Metaverse Magna (MVM) appoints Yemi Johnson as its new CEO, succeeding Yele Bademosi, the founder of MVM, who will now serve on the company’s board. Johnson, previously General Manager (GM) of MVM, joined the company after serving as SVP of Consumer Business at Reliance and COO of Hotels.ng. During his tenure as GM, he oversaw a successful pivot and drove the company’s highest revenue months. With his new role, Johnson is set to lead MVM towards a brighter future.
In 2021, during the booming crypto market, Metaverse Magna (MVM) established itself as a prominent play-to-earn (P2E) gaming guild, attracting 1,200 scholars and generating monthly revenues of $60,000. The African gaming community, which provides players with the opportunity to earn and receive rewards in cryptocurrency, was incubated by Nestcoin and has successfully raised $3.2M in funding.
However, as the crypto market took a negative turn, MVM restructured its business model to address the issues prevalent in many P2E games. The company also engaged its users to gather feedback on their P2E gaming experience, leading to the rebranding of the company to a social gaming and esports platform, Hyper. The company’s CEO, Yemi Johnson, is spearheading this transformation. With these changes, MVM is poised to thrive in the evolving gaming industry.
Hyper is an innovative social gaming and esports tournament application that provides a platform for players to engage in skill-based games and win real money rewards. Although still in beta, the platform has already garnered over 6,000 sign-ups with an impressive 50% stickiness rate. With Hyper, gamers can challenge friends and other competitors in both free and competitive matches, offering a diverse and engaging gaming experience. The platform features a range of fun, casual games and a streamlined interface, making it easy for users to earn cash while having fun.
Speaking about Hyper Johnson said, “If Messi was born in the 1900s, he would never have made any money from football or be known for his talent. Fast forward 100 years, and Messi and many people earn a living from football. This same dynamic happened in console and PC gaming with no one caring about the top pro players in core games like FIFA and Call of Duty, and now millions of people care and thousands of gamers make a living from these games via esports.”
The MVM CEO further stated, “Playing fun games on your mobile phone is work, and people build skills in these games, so they deserve to be able to monetize their skills. Scholars from our gaming guild felt this way and wanted a solution that was long-term and sustainable, so we built Hyper to solve their problem. Mobile gaming is a billion-person activity, and we’re innovating in a new era in social gaming.”
Metaverse Magna (MVM) has maintained its gaming guild operations with minimal overhead while focusing on Hyper. The platform has already established a presence in Nigeria, Indonesia, and Brazil through a joint venture partnership with OFR, a prominent VC fund, and DUX, a leading Brazilian gaming guild. By leveraging these strategic partnerships, MVM is well-positioned to expand its reach and appeal to a global audience of gamers seeking competitive gameplay and real-world rewards.