Jungle Raise $6 Million for Mobile NFT Shooter on Web3, Jungle, the company that made the hit mobile game Juice Jam, has now raised $6 million to make their next game, an NFT shooter based on Web3. In this round of fundraising, Paradigm was the main investor. Coinbase Ventures, Polychain Capital, and Digital Currency Group also put money in. You can also get more information about (Web3, NFTS Players…) now on gamendly.com, a studio that has produced other hit games including Mobile Legends and Free Fire.
Jungle’s and Web3
For many years, Jungle has been one of the most prominent developers of mobile games, with hits including Juice Jam and Panda Pop. Their most recent step into the exciting world of blockchain-based video games is a mobile NFT shooter on Web3. The Jungle is becoming an industry leader by making a game that combines Web3 and the growing popularity of NFTs.
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There is still a lot of interest from financiers in the Web3 gaming sector. Jungle, a Brazilian company, announced today that it has received $6 million in seed funding from Bitkraft Ventures and Framework Ventures. The money will be used to make a Web3 mobile shooter.
Also, the round included investments from Delphi Digital, 32bit Ventures, Karatage, Stateless Ventures, and others. These funds will be used to make Jungle’s first game and add more people to the development team.
Jungle co-founder and CEO Joao Beraldo told Decrypt
“Our strategy is to identify mobile games, either already live or in the process of being launched, that has the potential to be successfully converted to Web3-first titles and become dominant titles within their genre in the blockchain gaming space”
The blue specks in what will soon be a red ocean, Beraldo said. “We aim to stay away from the current concentrations of competition and instead take a leadership role in the genres where we have a chance to win,”
Carlos Pereira, a partner at Bitkraft Ventures, talked to Decrypt about why the company backed Jungle and their plans for Web3 gaming.
Pereira says that Bitkraft is “inch wide and mile deep” in the interactive entertainment sector. Its decisions are also influenced by its past investment experience in the Web2 gaming area. Ultimately, we believe that our prior work provides us a leg up on the competition when it comes to our primary goals for Web3.
What is Jungle’s NFT Shooter?
Participants in Jungle’s mobile game fight each other virtually in an online arena using NFTs. To get an advantage in combat, players can spend real money on NFTs that are representations of weapons, armor, and other game equipment. The NFTs are kept in a distributed ledger, making each one impossible to forge or hack.
Jungle’s first mobile shooter will let players trade in-game items for non-fungible cash. The creators announced a “opt-in by default open market economy” for the game.
Mobile, with its large user base, is
“The only one with the capacity to onboard a mass audience to Web3,”
As Beraldo put it, leading the Jungle team to conclude that it is the greatest platform for Web3 games at the present time.
NFTs have grown in popularity in recent years for numerous reasons. These unique digital assets may be used as artworks or game components.
Jungle uses NFTs to increase player investment and reputation. Players may purchase, sell, and trade NFTs.
What is Web3?
Decentralized apps (dApps) power Web3, the blockchain-based third internet.
Web3 lets users control their data without Facebook or Google’s monopoly. Jungle’s Web3-based game is safer and more transparent than other platforms.
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What are the benefits of Web3 gaming?
Web3 gaming has numerous advantages over older methods. First, the blockchain’s decentralization makes it safer than game servers.
Hackers will have a tougher time entering the game or stealing user data. Second, it’s more transparent regarding game mechanics and awards.
Finally, it’s more accessible since players don’t have to pay to grow and get the rewards.