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LootMogul Secures $200M Investment Commitment from Gem Global Yield

September 19, 2022 Add Comment
Prague Gaming & TECH Summit 2025 (25-26 March)

 

Sports Metaverse company LootMogul has secured a $200 million investment commitment from Gem Global Yield LLC SCS (GGY), part of GEM, that will expedite the adoption of blockchain gaming for sports organizations and athletes and truly deliver an immersive sports fans experience.

GEM will provide LootMogul with a share subscription facility of up to $200 million for a 36-month term following an equity exchange listing, which will allow LootMogul to draw down funds by issuing equity shares to GEM. LootMogul will control the timing and the maximum size of such drawdowns and has no minimum drawdown obligation.

The funding is expected to help in provide the financial flexibility to help in strategic development plans for LootMogul’s metaverse which includes building meta (virtual) sports cities around the world with real world benefits, brands & professional athletes on a true cross metaverse & blockchain (multi-chain) platform on multiple devices such as Oculus, HoloLens, Web, Mobile & Console.

“LootMogul is super excited about this investment commitment from GEM as it empowers athletes, fans and brands to provide an immersive engagement and tools to bridge experiences between web 3 metaverses and real world,” Raj Rajkotia, CEO of LootMogul, said.

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Zoltan Tundik
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Zoltán is a self-taught publisher and events organizer who has developed several brands and services that have increased the notoriety of his company within multi-billion dollar industries. In 2018, he has become a TEDx speaker and talked about reputation management in the digital era. As Co-Founder of HIPTHER Agency, Zoltan has helped develop highly respected online news portals, virtual and in-person conferences that cater to multiple industries on 5 continents. Among the developed brands and services you can find online news portals that cover several tech industries, gaming, blockchain, fintech, artificial intelligence, and more. In parallel, the company has built a portfolio of annually organized boutique-style conferences in Europe and North America. All the events organized by his company focus on bringing a wealth of information about the latest innovation in several industries such as Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports and many more. Zoltan enjoys writing articles on all portals owned by the HIPTHER Agency, talking at conferences, hosting the weekly HIPTHER Talks Podcast, and loves spending time with his family. Zoltan is a duathlete who enjoys training for different international competitions which include running and cycling.