LootMogul Selects DigitalBits for Its Multi-chain Sports Metaverse
LootMogul, a multi-chain gaming platform for sports influencers, fans, and
brands to engage in metaverse with real-world utilities, announced today that
it has selected DigitalBits as the first blockchain for the creation of the
MOGUL tokens are the native utility token and in-game currency for the LootMogul ecosystem. MOGUL tokens are used for creating land, wearables, collectibles, game power items, participating in contests, exclusive NFTs, VIP events and premieres, experiencing meet and greets, DAO voting, royalties, and nominations. The MOGUL token will also be added with an XDB/MOGUL liquidity pool on NicoSwap, the decentralized exchange (DEX) and open-source platform being built on the DigitalBits blockchain.
The DigitalBits blockchain powers a wide range of digital assets, including
NFTs and fungible tokens, and is fast, eco-friendly, user-friendly, and was
built for brands. It is fully open-sourced and designed for enterprise
scalability needs the capacity to process up to 10,000 transactions per
second. DigitalBits has fast, cost-effective, and highly performant infrastructure and services needed to support the highly innovative solutions
and offerings that blockchain organizations need. DigitalBits Foundation and
LootMogul will collaborate to build further applications and functionality for
sports influencers and fans to engage and bring the existing 181 athletes
ambassadors of LootMogul with a total reach of 80 Million people to the
blockchain.
“We are excited to add the DigitalBits blockchain to our multi-chain metaverse
strategy, which is extremely fast, efficient, and attracting worldwide
interest by sports brands. This partnership is expected to bring millions of
fans into the metaverse engaging with celebrities, athletes, and brands on
LootMogul. This will be a very exciting journey for both ecosystems to cross
interact and grow together!” said CEO of LootMogul Raj Rajkotia.
Daniele Mensi, Managing Director of DigitalBits Foundation commented, “We are looking forward to collaborating with LootMogul and their innovative platform that has aggregated sports brands and iconic sports ambassadors. It is exciting to see LootMogul’s MOGUL token created on the DigitalBits blockchain and the upcoming on-chain utility that this will bring.”
On LootMogul athletes and other influencers engage with their fans in local
stadiums, arenas, playgrounds, through multiplayer blockchain sports games
including basketball, football, soccer, baseball, pickleball, etc. Users can
receive real-life rewards from brands such as shoes, fitness wear, event
tickets & passes, etc. Fans can enjoy an immersive experience with influencers
by playing games with sports athletes’ avatars, forming dream teams (for
example, Larry Bird playing against Shaq), and competing at a global level.
Landowners earn revenue from ticket sales, game revenue, NFT revenue, and
brand sponsorship.
LootMogul has first mover advantage in this fast-growing
$800B industry and has partnered with more than 181 professional athletes from NBA, WNBA, and NFL, including Lisa Leslie, Carlos Boozer, Rick Barry, Mario Chalmers, and legendary basketball player/coach Michael Cooper, and in process of onboarding 1.5M+ high-school and college athletes.
Learn about the LootMogul multiverse, and read about how the project is
disrupting the entertainment market on the project’s website: metaverse.lootmogul.com
About LootMogul
LootMogul is an athlete-led sports metaverse (web3 platform) that is powered
by virtual real estate, training academies, blockchain games, meta shops for
brands and influencers with in-real-life (IRL) rewards. LootMogul is expanding
the web3 community by bringing web2 gamers and sports fanatics to the
metaverse. For more details, visit https://metaverse.lootmogul.com/
Create and own your sports metaverse with real-world professional athletes from NBA, WNBA, NFL, MLB, Soccer, etc. LootMogul's venture is accelerated by National Basketball Player Association in collaboration with Andreessen Horowitz (a16z) cultural leadership fund and Patricof co. In August 2022, LootMogul received $1M funding from LTAM Holdings, raising the total recent funding to $4M.
About DigitalBits Blockchain
DigitalBits is a layer-one blockchain protocol that prioritizes security,
speed, and cost-savings. Any asset can be tokenized on the DigitalBits
blockchain, including NFTs and fungible tokens. By making micropayments
efficient and cost-effective, DigitalBits provides the foundation for
real-world mass adoption of blockchain technology and cryptocurrency.
