Wemade, a company that develops online video games, has invested in Africa’s P2E guild initiative, MVM (Metaverse Magna). This investment aims to expand the continent’s WEMIX ecosystem and virtual gaming community.
MVM Working To Expand Virtual Gaming In Africa
Nestcoin, the parent firm of MVM, has invested in several crypto initiatives in Africa. Yele Bademosi, Binance Labs Africa’s former director, is the founder of Nestcoin.
Before now, Bademosi helped Binance Labs to oversee investments for startup firms. Nestcoin supports the entire play-to-earn lifecycle of various play-to-earn games.
The company has provided support during game operation, NFT/token public sales, launchpad support, and incubation.
Meanwhile, MVM is the biggest and first gaming DAO in Africa. The initiative is helping African gamers through Hyper, a self-developed application.
Additionally, it has a gaming community where gamers are offered assistance. The company’s latest goal is to expand its operations and provide gaming guild management tools.
As a result, the company is developing an OS and P2E gaming software design tool for gaming DeFi services, games developers, and others. According to Bademosi, Africa’s youth population is among the largest globally.
Furthermore, the video game company, Wemade, hopes to expand the community of WEMIX3.0 in Africa. Also, the company has plans to start providing gaming services in Africa.
Africa Has Huge Potential For Virtual Gaming Projects
Currently, statistics reveal that Africa has more than 186 million gamers. The goal of MVM is to tap into this huge user base and create a massive gaming community on the continent.
The P2E guild initiative will offer gaming tools to developers, guild operators, users, and investors through this community. Henry Chang, Wemade’s CEO, stated that gaming guilds have a major part to play in game tokenomics.
Additionally, it would be one of the mainstream DAOs. Chang noted that the company is happy to partner with MVM.
The CEO stated that the partnership would broaden the WEMIX ecosystem in Africa. He also mentioned that Africa is a growing market with a large population of youths interested in gaming.
Recently, virtual gaming began gaining traction in Africa, with various companies investing in startups. Last month, Meta opened the African version of the AR/VR Metathon in partnership with BlackRhino VR and Imisi 3D.
The initiative is part of the company’s XR fund to build the XR skills of African individuals. This is part of the company’s move to accelerate the adoption of the metaverse.
Meanwhile, various reports have stated that gaming would make a huge part of the metaverse. Hence, gaming companies are integrating virtual reality tools and experiences into their gaming projects.