To enter into the play-to-earn crypto gaming world, players are typically required to purchase expensive gaming assets. These assets then unlock access to games like Axie Infinity, which give players cryptocurrency rewards they can exchange for real money. However, given Africa’s economic dynamics, the average individual cannot afford to purchase these gaming assets (which can cost up to $1,200 in the case of Axie Infinity). This is where MVM comes in.
Led by its General Manager, Onyinye Umeaka, alongside a team of operations, growth and community experts, MVM is working to break down gaming barriers in Africa by giving individuals the opportunity to play, earn and grow their wealth without having to purchase any gaming assets. Through its scholarship program, it bears the cost of investment by acquiring the assets and lending them to players. It also provides additional support through virtual training facilities, a strong community of star players across the globe, and a model that ensures that scholars retain the majority of their earnings.
But it goes beyond fun and games. Having identified Africa’s rapid progression towards becoming the largest workforce in the world by 2035 (source: Bloomberg), the organization is seeking to elevate the lower economic classes towards financial security and develop economies across the continent through crypto.
In a recent interview, Onyinye Umeaka stated: “The crypto play-to-earn revolution has been enriching communities in the Philippines and other countries across Asia, and we are excited about what it’s already doing in Africa. As further proof of our commitment to the cause, we’re also developing a free and easy-to-use guild management platform to give anyone else interested in building a similar gaming guild on the continent the tools and community they need to do it.”
Metaverse Magna is the second venture to be publicly announced by Nestcoin, a crypto-native Venture Collective aimed at unlocking the wealth-building potential of crypto, with a mission to democratise economic opportunities across Africa and other frontier economies. According to Nestcoin CEO Yele Bademosi: “Nestcoin has a broader vision of breaking down all the barriers for entry into crypto, and MVM really embodies this vision. We believe Play-to-Earn has the potential to drive mass adoption of crypto in Africa, approximately 40% of 1.2 Billion Africans are below the poverty line so the opportunity to help 250M gamers on the continent earn up to $1,000 a month is a worthy mission in our quest to drive economic transformation on the continent”
MVM was incubated in partnership with Old Fashion Research (OFR), a multi-strategy blockchain investment fund founded by executives from the world’s leading exchange. In the words of Ling Zhang, founding partner of Old Fashion Research and former VP of M&A at Binance: “***We at OFR are beyond excited to be building the MVM DAO with Nestcoin. Whether it is, play-to-earn, move-to-earn, or build-to-earn, the metaverse economy will empower a whole new generation of Africans. The DAO format of MVM will enable unprecedented financial access and wealth creation for our players and our community.***”
The DAO is partnering with investors who share its mission and will be unveiling more games in the coming months. Game developers are also invited to pitch new and innovative games for a chance to receive capital and an army of enthusiastic and free MVM players.
In the Metaverse Magna, everybody wins.
MVM is Africa’s first and largest crypto-gaming DAO that is unlocking access to lucrative play-to-earn opportunities, with a mission to revolutionalise the concept of work and enrich communities across the continent and beyond. Learn more at www.mvm.gg
Nestcoin is a Venture Collective that builds, operates and invests in simple products that make crypto accessible to everyone. Its mission is to democratise access to economic opportunity for everyday people in frontier markets. Learn more at www.nestcoin.com.
Old Fashion Research is a multi-strategy blockchain investment fund founded by executives from the world’s leading exchange. OFR covers from early-seed investment to merger and acquisition in the blockchain industry. https://ofr.asia/