• Loading stock data...
Thursday, August 28, 2025
Front Office Sports Honors winners are here! View the 2025 winners

Sports Metaverse Platform Gets $200M Injection

  • LootMogul has partnered with more than 180 professional athletes in the U.S.
  • The platform will build more than 200 virtual cities with the investment.
LootMogul

Sports-focused blockchain gaming platform LootMogul has secured a $200 million investment from alternative investment firm Global Emerging Markets. 

LootMogul will use the capital to build metaverse gaming environments allowing fans to engage with athletes, teams, and brands via virtual “sport cities.” 

  • LootMogul has partnered with more than 180 professional athletes in the U.S.
  • It is currently onboarding over 1.5 million high school and college athletes.
  • The platform will build more than 200 virtual cities with the investment from GEM.
  • It plans to have those cities available across multiple platforms, including Meta’s Oculus

As part of the investment, GEM will give the California-based platform a share subscription facility of up to $200 million for 36 months following an equity exchange listing. 

The transaction allows LootMogul to withdraw funds by issuing equity shares to GEM. 

Blockchain and Metaverse Deals 

Software and venture firm Animoca Brands recently raised $110 million, valuing the NBA Top Shot and blockchain gaming investor at more than $5 billion.

In July, metaverse builder Infinite Reality closed its deal to acquire esports and entertainment conglomerate ReKTGlobal, Inc. for $470 million, valuing the combined entity at $2.47 billion.

That same month, gaming-focused VC firm Konvoy Ventures raised $150 million for Konvoy Fund III, which will have 20% to 30% of its funds allocated toward blockchain-related games.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Oregon State Beavers quarterback Gevani McCoy (4) scrambles out of the pocket during an NCAA football game against UNLV at Reser Stadium on Saturday, Oct. 19, 2024, in Corvallis, Ore.

Pac-12 Strikes New Football, Basketball Deal With The CW

The latest step in its resurrection after being picked apart in 2023.

Annual Football Season Tradition: A High-Stakes Media Blackout Fight

The ongoing Fox–YouTube TV dispute marks an annual media tradition.

YouTube TV, Fox Standoff Puts CFB Viewers in Jeopardy

Subscribers could find themselves without access to marquee matchups.

Featured Today

‘You’re Going to Get Beat Up’: The Liberty’s All-Male Practice Squad

A select group suits up weekly to take on the defending champs.
August 24, 2025

The Honey Deuce Effect: How Tennis Perfected the Signature Cocktail

Sold every 1.5 seconds, they total more than $12 million in sales.
Dec 21, 2024; Austin, Texas, USA; Texas Longhorns quarterback Arch Manning (16) warms up as the Texas Longhorns prepare to play the Clemson Tigers in the first round of the College Football Playoffs at Darrell K Royal Texas Memorial Stadium.
August 23, 2025

Schools Are Hesitant to Allow PE Into Their Athletic Departments

Regardless of budget, schools don’t believe the risk is worth the reward.
Oct 2, 2024; Rosemont, IL, USA; Big Ten commissioner Tony Petitti speaks with the media during the 2024 Big Ten Women’s Basketball media day at Donald E. Stephens Convention Center.
August 22, 2025

‘Not Ready to Jump In’: Power 4 Commissioners Aren’t Sold on PE

Top leaders in college sports have yet to see a satisfactory proposal.

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
June 24, 2025

Timberwolves’ 4-Year Ownership Saga Ends As A-Rod, Lore Take Over

The unanimous approval brought a clean end to a long-disputed transaction.
Apr 26, 2025; San Francisco, California, USA; Houston Rockets guard Fred VanVleet (5) before game three of first round for the 2024 NBA Playoffs against the Golden State Warriors at Chase Center.
June 25, 2025

Rockets Get $20 Million in Wiggle Room From New VanVleet Deal

VanVleet first signed with the Rockets in 2023.
Sponsored

Gareth Bale on MLS vs EPL, Retirement & Buying Cardiff City

Gareth Bale shares his post-soccer business playbook.
April 20, 2025

Max Verstappen Linked to $300M Aston Martin Deal Ahead of Miami GP

Aston Martin is currently seventh in the constructors championship.
March 27, 2025

Peyton Manning’s Omaha Productions Gets PE Boost

The Hall of Famer’s company gains another prominent backer.
March 20, 2025

High School Sports Power Signs Eight-Figure Rights Deal in First

The deal pays roughly $1 million annually, FOS has learned.
March 20, 2025

Maxx Crosby’s Agent: Edge Rushers Set to Dominate NFL’s Non-QB Market

Maxx Crosby just signed a three-year, $106.5 million extension.