TL:DR
- Web3 gaming is a rapidly-growing industry that has attracted many investors.
- Jungle, a Brazil-based start-up, has raised $6 million in seed funding to develop a Web3 mobile shooter game. The game will allow players to sell the items they find in the game as NFTs and will have an open market economy by default.
- Matchday, a soccer-centric Web3 gaming start-up, recently raised $21 million in seed funding to develop a suite of games, with Lionel Messi’s venture capital firm onboard.
Its a jungle out there!
Web3 gaming has emerged as a rapidly-growing industry, and many investors are showing interest in it. Jungle, a Brazil-based start-up, has recently raised $6 million in seed funding for the development of a Web3 mobile shooter game [1]. The funding round was co-led by Bitkraft Ventures and Framework Ventures, and also included investments from Delphi Digital, 32bit Ventures, Karatage, and Stateless Ventures. Jungle plans to buy up intellectual property from existing game studios and adapt them into Web3 mobile games. The company believes that mobile is currently the best platform for Web3 games because it has the most overall users, making it “the only one with the potential to onboard a mass audience to Web3”.
The Jungle Team
The Jungle team has not yet revealed the name of its first title, but players will be able to sell the items they find in the game as NFTs, and the game will have an “opt-in by default open market economy,” according to a statement. Jungle co-founder and CEO Joao Beraldo said, “Our strategy is to identify mobile games, either already live or in the process of being launched, which have the potential to be successfully converted to Web3-first titles and become dominant titles within their genre in the blockchain gaming space”. The team is looking for genres where they can win and plans to avoid current clusters of competition.
More funds raised
Jungle is not the only start-up in the Web3 gaming industry that has attracted investment. Matchday, a soccer-centric Web3 gaming start-up, recently raised $21 million in seed funding to develop a suite of games, with legendary soccer player Lionel Messi’s venture capital firm onboard [2].
In summary, Web3 gaming has emerged as a rapidly-growing industry with many investors showing interest. Jungle, a Brazil-based start-up, has recently raised $6 million in seed funding for the development of a Web3 mobile shooter game. The funding round was co-led by Bitkraft Ventures and Framework Ventures, and also included investments from Delphi Digital, 32bit Ventures, Karatage, and Stateless Ventures. Jungle plans to buy up intellectual property from existing game studios and adapt them into Web3 mobile games. Meanwhile, Matchday, a soccer-centric Web3 gaming start-up, recently raised $21 million in seed funding to develop a suite of games.
