Web3 game studio Jungle completed $6 million seed round financing
It is reported that Brazil’s Web3 game studio Jungle has completed a seed round financing of US $6 million. Bitkraft and Framework Ventures jointly led the investment, and Delphi Digital, Karatage, Fourth Revolution Capital, Monoceros, 32bit Ventures, Stateless Ventures, Snackclub and Norte Ventures participated in the investment. （The Block）
Interpretation of this information:
Brazilian game studio, Jungle, has received a whopping seed round financing of $6 million. Bitkraft and Framework Ventures joined hands and led the investment. Other investors include Delphi Digital, Karatage, Fourth Revolution Capital, Monoceros, 32bit Ventures, Stateless Ventures, Snackclub, and Norte Ventures.
Jungle is a Web3 game studio that intends to bring blockchain and NFTs to traditional gaming. The company plans to create immersive gaming experiences with dynamic and customizable assets powered by NFTs. The recent funding will aid Jungle in achieving its dream of becoming a frontrunner in the gaming industry.
Bitkraft has already invested in several blockchain gaming companies such as Immutable X, Sorare, and Animoca Brands. Jungle fits perfectly into Bitkraft’s mission to invest in groundbreaking technologies. Framework Ventures, on the other hand, is a prominent player in the DeFi sector. The joint investment signifies the growing interest of traditional investors in the potential of blockchain-based gaming.
Delphi Digital, a blockchain research firm, has recently been active in the DeFi space. Delphi’s investment in Jungle is a sign that the company sees the potential in the emerging field of NFT-based gaming. Karatage is a venture capital firm that focuses on early-stage startups. Fourth Revolution Capital is a growth equity firm. Monoceros and 32bit Ventures are early-stage venture capital firms, while Stateless Ventures focuses on blockchain projects. Snackclub is an NFT marketplace, and Norte Ventures is an early-stage venture capital firm in Latin America.
The significance of this funding round goes beyond just Jungle’s success. It is a signal that blockchain-based gaming is gaining traction and traditional investors are willing to put their money into it. Besides, Jungle is a Latin American company, and the fact that it attracted such prominent global investors showcases the growing attention towards the region’s gaming and tech industry.
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