Brazil’s Jungle raises $6M for Web3 mobile shooter

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Jungle has raised $6 million for its Web3 mobile shooter. The funding shows that the Web3 game development virus has spread to Brazil.

This investment will enable the Sao Paolo company to expand its team of game developers, designers, artists, and engineers to bring the first title in its portfolio to market later this year.

Bitkraft co-led the round with Framework Ventures. Additional participants include Delphi Digital, Karatage, Fourth Revolution Capital, Monoceros, 32bit Ventures, Stateless Ventures, Snackclub and Norte Ventures.

Founded by Joao Beraldo, Giulio Ferraro, and Lucas Kertzman, Jungle aims to be at the forefront of the blockchain gaming revolution, seeking to develop and publish games that onboard the next generation of players to web3.

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“We are committed to creating fun-first hybrid games that are mobile-first and blockchain-enabled,” said Joao Beraldo, Jungle CEO, in a statement. “For web3 gaming to reach its full potential, developers must create games where players come for the product experience and stay for the open economy. The inverse model – the current state of the industry – will not get us to mass adoption. To reach new audiences and expand the market, we’ll need to do better as an industry.”

With a unique approach to game publishing, Jungle sources and acquires underutilized intellectual properties from established game companies. It develops the product vision and go-to-market strategy, and then