Brazil-based web3 game publisher Jungle has raised $6m in a seed funding round co-led by Bitkraft and Framework venture capital firms.
Delphi Digital, 32bit Ventures, Karatage, and Stateless Ventures, among others, also participated in the round.
The funds raised will facilitate the San Paolo start-up's aim to develop its first title; a web3 mobile shooter, bring its first portfolio to market, and expand its scope of developers.
Although the name of the title has not been announced, the mobile shooter will grant players the opportunity to sell items as NFTs. Additionally, the game will provide an opt-in by default open market economy.
In a bid to save time spent developing a collection of in-house characters, Jungle plans to buy the intellectual property from existing game studios and adapt them into web3 mobile games.
“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”, said Jungle chief executive Joao Beraldo.
Bitkraft partner Carlos Pereira said he is confident in the firm's investment portfolio expansion across Latin America and believes Jungle will provide an experience that gives “an edge in what we’re focused on with web3″.
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