LootMogul, Sports Metaverse announces first naming rights deal to Hoop Culture

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Sep 26, 2022, 09:52 ET

SANTA MONICA, Calif. and NEW YORK, Sept. 26, 2022 /PRNewswire/ -- LootMogul announced that an agreement has been made for Hoop Culture Inc. to acquire the naming rights for the Metaverse Arena in Orlando.

The terms of the deal also include an agreement for Hoop Culture to place five retail/experiential stores in five Arenas within the LootMogul Metaverse.

LootMogul, Sports Metaverse announces first naming rights deal to Hoop Culture

"We have been receiving a high number of inquiries for naming rights in our Sports Metaverse, and penning this agreement with Hoop Culture, one of the fastest growing apparel brands, is phenomenal.

Our goal is to onboard all major brands in our sports metaverse, convert their web 2 consumers to web 3 and vice-versa; essentially create a whole new revenue stream in the metaverse for all brands," stated Raj Rajkotia, LootMogul CEO.

"To obtain the naming rights for the Orlando Arena is a tremendous day in the continued growth of Hoop Culture," said Mike Brown, President of Hoop Culture.

"Having Hoop Culture stores in five LootMogul Metaverse Arenas will continue to expand our brand and place us in front of hundreds of millions of potential customers. Game players will be able to represent the Hoop Culture brand within the Metaverse and purchase physical products that will be sent directly to the customer. Truly a game changer," added Brown.

About LootMogul

LootMogul is an athlete-led sports metaverse (web3 platform) that is powered by virtual real estate, training academies, blockchain games, metashops for brands and athletes with in-real-life (IRL) rewards. LootMogul is expanding the web3 community by bringing web2 gamers and sports fanatics to the metaverse. LootMogul is building more than 180 sports cities across the globe with real-world utilities and benefits.

LootMogul recently secured a $200 million investment commitment from Gem Global Yield LLC SCS (GGY), part of GEM, that will expedite the adoption of blockchain gaming for sports organizations and athletes and truly deliver an immersive sports fans experience.

More investment news: https://www.thecoinrepublic.com/2022/09/17/lootmogul-sport-metaverse-company-secured-200-million-in-funding/

For more details visit: https://lootmogul.com

LootMogul Community - https://www.instagram.com/lootmogul/

About Hoop Culture

Hoop Culture is the premier, one-stop store for copping unique basketball accessories; the forerunner of the independent street and lifestyle apparel, setting trends with each and every new arrival. Hoop Culture currently sells products in 38 countries around the world, and maintains a vast social media network of over 150 million impressions a month.

For more information: https://hoopculture.com

Photo: https://mma.prnewswire.com/media/1907500/LootMogul_Hoop_Culture.jpg
Logo: https://mma.prnewswire.com/media/1900970/LootMogul_New_Logo.jpg

SOURCE LootMogul