Jungle Raises $6M to Develop Web3 Mobile Shooter

brazilian startup, dense foresthas secured $6 million in seed funding to develop a mobile shooter that will be transformed into its first title, the Web3 mobile game. The venture capital firm has received funding from Bitkraft Ventures and Framework Ventures, with a portion of the funding allocated to growing the company’s team of developers. Other companies participating in the funding round include Delphi Digital, 32bit Ventures, Karatage and Stateless Ventures.

📰 PSA 📰

started @jungle_xyz Accelerate the gaming frontier and define new standards by delivering the best Web3 gaming experience available on mobile.

Today we are announcing a $6 million seed round. @Bitcraft VC and @hiFramework 🎊🎉🎊 pic.twitter.com/mZArM5xRNa

— Joao 🔜 GDC (@0xJ010) March 13, 2023

Mobile games can be released much more quickly than console games, which take years to develop. To avoid direct competition, Jungle plans to acquire intellectual property (IP) from existing game studios and integrate it into Web3 mobile games. This strategy will help Jungle establish a more successful genre foothold.

Jungle CEO Joao Beraldo said the company’s aim is to identify mobile games that already exist or have been launched and turn them into Web3-first titles that have the potential to become major games in the blockchain gaming industry. said to convert to . “We are looking for blue spots that will soon become red oceans.” Berard added. “We want to avoid the current cluster of competition and move forward in a winning genre.”

Jungle Development Shows Improvements in Web3 Mobile Gaming Industry

Jungle’s first title has yet to be named, but players will be able to sell items they find in-game as NFTs. According to a statement, the game features an “open market economy with opt-in by default.” The growing popularity of NFTs and the potential of blockchain technology to revolutionize the gaming industry has seen a surge in investment in Web3 gaming startups.

As more and more investors continue to invest in the Web3 games industry, it will be interesting to see which startups emerge as leaders. Jungle’s unique strategy of incorporating his existing IP into his Web3 Mobile his game could give him an advantage over his competitors. Jungle’s $6 million seed funding round is a promising sign for the Web3 games industry, with much to look forward to in mobile game development.

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