SANTA MONICA, Calif. , /PRNewswire/ -- LootMogul partners with Six Sport Sports Metaverse company is partnering with a le...
Problem
Web3 is complicated
and has a sports gap
- There are no sports-centric metaverses with real-world benefits that focus on fan engagement with all tiers of college and professional athletes.
- Most current generic metaverses have complicated onboarding and questionable trust for both brands and athletes.
- Digital Assets (NFTs) have limited or no real-world usage, and collectibles do not address 99% of the athlete's population and brands.
- Athletes & Brands cannot easily convert their current followers on Web2 online channels (Instagram, TikTok etc.) to Web3 customers.
Solution
Bringing the power of Web3 to athletes, brands and fans
in a new era of sports metaverses & gaming.
Powered by multi-player blockchain games, meta shops for brands and athletes, virtual real estate, training academies, & digital collectibles with In-Real-Life (IRL) rewards.
LootMogul sports city with stadiums, multi-player mini games,
real-world meta shops, experience centers,
and in-real-life connections with athletes and brands.
- Customer aligned omni channel for immersive sports metaverse
- Focus on real utility for real customers at scale
- Artificial Intelligence driven & leverage trusted Web3 infrastructure components
- Revenue-first approach for athletes, fans and brands drives engagement
LootMogul has multiple levers to scale, current traction, and a retention-oriented business model.
Product
The LootMogul
metaverse experience
Athlete-led fan engagement
- LootMogul is an athlete-led Web3 sports metaverse platform that converts athlete & brand Web2 social media followers to Web3 consumers using AI driven behavioral analysis.
- LootMogul builds virtual sports cities with real-world utilities & merchandises. LootMogul produces & publishes Web3 sports games for athletes and fan to engage.
- LootMogul offers SaaS meta-shops solutions to sports brands for converting and/or integrating their online Web2 stores to a Web3 store.
- Merchandise not only can be put on your avatar to unlock metaverse experiences & game levels, but also can be physically delivered to your home.
- LootMogul focuses on new revenue streams & experiences for athletes, sports brands, and fans using their real-world influence.
- LootMogul’s target customers are athletes that have a strong online presence and/or inspiring real-world story.
LootMogul takes a pragmatic approach of bringing athletes, brands, and fans into a sports-centric metaverse using open standards, single-click onboarding, and full transparency.
Traction
Cashflow positive,
generating ~$80k revenue per month.
- 253 Brand Ambassadors / Athletes
- 104 Million platform reach through athletes
- 84K Active Users
- 24K Games played per day
- 576 months of engineering resources
Industry Accolades
- LootMogul venture is accelerated (1 of 5 ventures) by National Basketball Player Association in collaboration with Andreessen Horowitz (a16z)’s Cultural Leadership Fund and Patricof Co.
- Web3 Studios reports LootMogul as one of the top sports metaverse experience platform in December 2022.
- LootMogul is competitively selected (1 of 6 ventures) by National Football League Player Association (NFLPA) to participate in their 2023 NFLPA Pitch Day Competition during the 2023 NFL Superbowl LVII Week.
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LootMogul brand ambassadors
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- 253 professional & collegiate athletes (NBA, WNBA, NFL etc.)
- Multi-year agreements
- Expect to secure over 1000+ college and professional brand ambassadors by Q4 2023
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Metaverse ecosystem partners
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LootMogul is leveraging industry standard Web2 & Web3 components to scale and secure the platform globally.
Business model
Highly scalable revenue model through two main streams of revenue
1. Sports commerce-driven
Meta-commerce and brand ad revenue
LootMogul is building one-click solution that will convert and integrate brands Web2 online stores to Web3 meta shops — where metaverse avatars can get dressed up with real-world products, while having an option to ship these physical items to their home.
This will be offered as a SaaS solution to brands, just like Web2 Shopify Stores.
Web2 companies (online/retail stores such as Nike, Under Armor, Wrangler, Lululemon, HoopCulture, etc.) can partner with sports-centric metaverse companies like us to create/extend their web3 presence, with digital collectibles that ship in-real-life goods (clothing, shoes, etc.) to the consumer.
This is a highly scalable model (trillion+ USD), like internet sales in early 2000. Most companies in the space are looking to perform this activity, while boosting their current physical item sales — as predicted by McKinsey/Goldman Sachs, etc.
2. Athlete-driven
Mini Blockchain Games | Learn&Earn + Play&Earn
Sports fans can play mini games to learn or compete using AI-driven characters that mimic each real-world athlete’s capabilities.
Fans can create fantasy teams & leagues to compete globally in LootMogul’s multi-player tournament model.
This is another highly scalable model; the total addressable market of professional, college, & high-school athletes (active & retired players) across all sports genres is in the millions.
There are opportunities to expand across many sports genres such as Basketball, Football, Soccer, Hockey, Baseball, Cricket, Pickleball, Bull Riding, Fitness and Bodybuilding Federation, etc.
Market
The metaverse is too big for companies to ignore
- McKinsey & Company: Businesses and consumers annual global metaverse spending could reach $5T by 2030
- Goldman Sachs / Morgan Stanley: Goldman Sachs backs Morgan Stanley’s $8T metaverse prediction
- Citi: Says 2030 metaverse economy could be worth $13T
Vision and strategy
Simple & innovative engagement platform for athletes and brands
in a new Web3 sports economy.
Athletes engage with fans using multi-player blockchain games, training academies & meta shops.
Brands engage with athletes and fans through sports focused meta commerce.
Sports fans generate content, own and monetize with athletes and brands.
Mission: Expanding Web3 community by bringing Web2 sports fanatics & gamers into the metaverse.
Funding
$8.25M raised
from seed investors
at $41M pre-money equity valuation
Secured $200M equity line subscription facility commitment from GEM which can be pulled down if/once company is publicly traded.
Founders
Raj Rajkotia
Founder & CEO
Raj Rajkotia is an inspiring executive with extensive expertise in the gaming, technology, and blockchain industries. With over 18+ years of experience in these fields, he has demonstrated exceptional leadership skills and a deep understanding of the latest technologies and trends. He has previously worked with Riot Games and WB Games. His unique combination of knowledge and experience makes him a valuable asset to any team.
Kuntal Sampat
Co-Founder & COO
With close to 30 years in industry, Kuntal Sampat brings a wealth of experience and expertise to the team. With a background in both technology and gaming, he has spent decades working in these domains, leading well-known companies such as Sugal & Damani Group of Companies and Poker Stars. His exceptional understanding of both technology and gaming, combined with his strong leadership skills and motivation, make him a valuable asset to the team and contribute to the overall success of the company.