McConaughey spoke at the event along with UT Athletics Director Chris del Conte, men's head basketball coach Chris Beard, and women's head basketball coach Vic Scahefer.
They all talked about the excitement of the new state-of-the-art venue but it was McConaughey's singing and urging of the crowd to "bless the mood" that got the crowd going.
The University of Texas Longhorns men's and women's basketball teams will be calling Moody Center home and some big-name musicians will be performing there including John Mayer, Justin Bieber, Shawn Mendes, and more.
The arena is located at 2001 Robert Dedman Drive. The 530,000 square-foot building cost an estimated $338 million to build and has more than 15,000 seats.
Moody Center replaces the 45-year-old Frank Erwin Center. It's named in honor of the $130 million gift from the Moody Foundation which is the largest gift the foundation has ever given to an organization and one of the largest gifts given to the University of Texas.
The venue's official grand opening will be April 29-30 and will feature George Strait whoi will be joined by Willie Nelson & Family and Randy Rogers Band for the "Strait from Moody Center" Grand Opening Celebration.
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