Jungle Raises $6M to Develop Web3 Mobile Shooter

Jungle Raises M to Develop Web3 Mobile Shooter

brazilian startup, Jungle, has secured $6 million in seed funding to develop its first title, a mobile shooter that will be transformed into a Web3 mobile game. Funded by venture capital firms Bitkraft Ventures and Framework Ventures, a portion of the funds will be allocated to growing the company’s developer team. Other companies participating in the funding round include Delphi Digital, 32bit Ventures, Karatage and Stateless Ventures.

Mobile games can be launched much faster than console games, which can take years to develop. To avoid direct competition, Jungle plans to acquire intellectual property (IP) from existing game studios and integrate it into their Web3 mobile games. This strategy will help Jungle establish themselves in genres where they can do better.

Jungle CEO Joao Beraldo said the company aims to identify mobile games that already exist or are launching and convert them into Web3-first titles that can become leading games in the blockchain gaming industry . “Looking for the blue spots in a soon-to-be red ocean,” added Beraldo. “We want to avoid the current groups of competition and position ourselves ahead in genres where we can win.”

Jungle Developments signals improvements in the Web3 mobile gaming industry

The name of the first Jungle title has not yet been released, but it will allow players to sell the items they find in the game as NFTs. The game will feature “the default inclusion of an open market economy,” according to a statement. The growing popularity of NFTs and the potential of blockchain technology to revolutionize the gaming industry has led to a surge in investment in Web3 gaming startups.

As more and more investors continue to invest in web3 gaming industry, it will be interesting to see which startups emerge as leaders. Jungle’s unique strategy of incorporating existing IP into Web3 mobile games may give them an edge over their competitors. Jungle’s $6 million seed funding round is an encouraging sign for the Web3 gaming industry, and its future mobile game developments are highly anticipated.

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