The new funding will be used to develop the Brazilian company’s first blockchain title and expand its development team to enter the Web3 gaming scene.
Here’s all you need to know about Jungle’s foray into blockchain gaming
Brazilian Web3 game development studio Jungle has raised $6 million in seed funding in a round jointly led by Bitkraft Ventures and Framework Ventures.
The São Paulo-based company will use the new funding to develop its Web3 mobile shooter, expand its team of developers, engineers, artists and designers, and bring its first blockchain title to market this year.
Other investors in the round were Delphi Digital, Karatage, Fourth Revolution Capital, Monoceros, 32bit Ventures, Stateless Ventures, Snackclub, and Norte Ventures.
Jungle is a game publishing company founded by Joao Beraldo, Giulio Ferraro and Lucas Kertzman. Instead of developing its own lore and in-game characters, the company buys underutilized IP from established gaming companies and adapts them for blockchain games.
Jungle CEO Joao Beraldo said: “For Web3 games to reach their full potential, developers need to create games that encourage players to stay in the open economy for product experiences. We’re not going to get mass adoption, we need to do better as an industry to grow our audience and expand our market.”
Jungle’s first title, due out in 2023, is a gameplay-focused Web3 mobile shooter. Designed for casual gamers, it features an open market economy where players can own and trade assets acquired through gameplay. The company’s ultimate goal is to bring the power of digital ownership and the free market economy to mobile gaming.
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