<a href="https://www.itsjungle.xyz/">Jungle</a>, a Brazilian web3 game publisher, has raised <a href="https://venturebeat.com/games/brazils-jungle-raises-6m-for-web3-mobile-shooter/">$6 million</a> in a seed round. The round was co-led by web3-focused VC firms <a href="https://www.bitkraft.vc/">BITKRAFT Ventures</a> and <a href="https://framework.ventures/">Framework Ventures</a>. Other notable investors include Delphi Digital, 32bit Ventures, Karatage, and Stateless Ventures. 

The funding will be used to develop Jungle's first web3 mobile shooter game. Additionally, the company plans to use the grant to expand its development team to create a premier gaming experience.

<a href="https://www.linkedin.com/in/carlos-g-pereira-40780131/">Carlos Pereira</a>, a partner at BITKRAFT Ventures, expressed enthusiasm for leading the round. He believes Jungle can disrupt the current web3 gaming model by utilizing IP from established games companies and rapidly distributing content. The Jungle team has worked with some of the largest mobile game companies in Latin America, and they are looking forward to launching a user-friendly mobile shooter later this year. This could put web3 on the map in Latin America.

<a href="https://www.linkedin.com/in/brandonpotts/">Brandon Potts</a>, Director at Framework Ventures noted the competitive nature of the video game industry and emphasized the importance of timing for market penetration. He believes Jungle is taking an innovative approach by acquiring and optimizing existing games rather than creating new ones from scratch.

Potts commented, "By leveraging underutilized intellectual property, we believe Jungle can avoid reinventing the wheel when it comes to web3 game development, allowing it to quickly deploy and adapt in this new, fast-growing ecosystem."

Jungle's first web3 mobile shooter game is set to launch this year. The game will enable players to trade in-game items for NFTs. It will also feature an "opt-in by default open market economy." According to Jungle's CEO <a href="https://www.linkedin.com/in/joao-beraldo/">Joao Beraldo</a>, mobile has the most users overall, making it the only one with the potential to onboard a mass audience to Web3. The name of the game is yet to be announced.

Jungle is a new web3 gaming publisher based in Brazil. In a statement published Monday, Beraldo said his company is focused on creating hybrid games that are "mobile-first and blockchain-enabled."

Stay tuned for more updates.

The Brazilian game publisher will use the funds to launch its first web3 mobile shooter game.

Jungle Secures $6M Seed Funding to Develop its First Web3 Title

The Brazilian game publisher will use the funds to launch its first web3 mobile shooter game.

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