Grand Cayman Cayman Islands , Aug. 26, 2022 (GLOBE NEWSWIRE) --
LootMogul 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, 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 with 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. Land owners 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.
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://lootmogul.com. Create and own your sports metaverse with real-world professional athletes from NBA, WNBA, NFL, MLB, Soccer, etc. LootMogul 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.
Media contact:
Raj Rajkotia
raj@lootmogul.com
Media contact az@kisspr.com via KISS PR Crypto Press Release Distribution
