Gaming Start-up Jungle Secures $6 Million Funding to Launch First Web3 Mobile Shooter Game
Jungle, a Brazilian Web3 game publisher, just secured $6 million in a seed fundraising round led by Framework and Bitkraft Ventures. The funding will be used for developing a mobile shooter Web3 game.
Fourth Revolution Capital, Monoceros, Delphi Digital, Karatage, 32bit Ventures, Stateless Ventures, Snackclub, and Norte Ventures are among the other investors in the round.
Jungle, a company founded by João Beraldo, Giulio Ferraro, and Lucas Kertzman, wants to lead the blockchain gaming revolution by creating and releasing games that attract the new generation of gamers to web3.
The Brazilian firm considers mobile the greatest platform for developing their Web3 game because it has the most users overall. In order to further the development of its Web3 mobile shooter game and other games, it plans to use the funds to expand its gaming studio's development staff.
“We are committed to creating fun-first hybrid games that are mobile-first and blockchain-enabled,” said Joao Beraldo, Jungle CEO. “For web3 gaming to reach its full potential, developers must create games where players come for the product experience and stay for the open economy. The inverse model – the current state of the industry – will not get us to mass adoption. To reach new audiences and expand the market, we’ll need to do better as an industry.”
With a distinctive strategy for game publishing, Jungle identifies and acquires unused intellectual rights from well-known gaming studios. Then, it designs the go-to-market plan and product vision before launching the game with an emphasis on Web3 growth, distribution, and monetization. Using this strategy, the firm can release its games more quickly while still offering gamers top-notch experiences.
“We are excited to grow our investment portfolio in Latin America, a region full of some of the world’s most avid and passionate gamers. Jungle is disrupting the current model for building Web3 games by acquiring IP from established game companies, ultimately shipping games at accelerated rates,” said Carlos Pereira, partner at Bitkraft Ventures.
Jungle has secured a $6 million funding round, which is great news as it will provide the necessary funds to launch its first Web3 mobile shooter game. Even though there are critics who doubt the success of Web3 gaming, the recent spate of successful funding rounds suggests otherwise. Jungle's fans will need to wait for the launch of its first Web3 mobile shooter game. Here at NFT Drops Calendar, we will keep an eye out for any development in the project.