Web3 studio Jungle has raised $6 million in investment to develop its first mobile shooter. The round was led by Bitkraft and Framework Ventures.

A side note: Redemption Games has raised $7 million investment

We aim to create hybrid games that focus on mobile devices and blockchain. For Web 3 games to reach their full potential, developers must create games where players come for the product experience and stay for the open economy. The reverse model is the current state of the industry – it won’t take us to mass adoption. To reach new audiences and expand the market, we will need to do a better job.

Joan Beraldo, co-founder of Jungle
Web3 studio Jungle has raised
The founders of Jungle Studios

The São Paulo-based company will use the funds to grow its team ahead of its first mobile game, expected in late 2023. The name of the first Jungle game has yet to be revealed, but the mobile shooter will allow players to sell items they find in the game as NFT.