Sports Metaverse startup LootMogul has secured a $200 million investment commitment from Gem Global Yield, providing the company with up to $200 million of stock subscription facility for a period of 36 months following a stock listing.

The company said the funding is expected to fuel the development of LootMogul’s metaverse focused on sports games, including “building (virtual) sports metacities around the world with real-world benefits, brands, and professional athletes in a true metaverse.” cross and blockchain (multichain) on multiple devices such as Oculus, HoloLens, Web, Mobile & Console”, explained the company in a statement.

The deal will allow LootMogul to withdraw funds by issuing equity shares to GEM with no minimum withdrawal obligation, allowing the startup…