The new investment money will be used along with a previous seed round to continue to develop Web3 ambitions
Gaming platform Ajuna Network has raised $5 million in a private funding round led by blockchain-focused venture capital firm CMCC Global.
This is in addition to the $2 million the startup raised in a previous seed round back in February 2022, which contributed towards the platform’s growth. This new round of funding coincides with the launch of the startup’s NFT collection Awesome Ajuna Avatars, which is inspired by the company’s flagship game, BattleMogs.
The decentralized gaming platform will use the new funding to continue to build out on Polkadot, Ethereum and Polygon. Ajuna also intends to support projects that are being built and launched on its network.
Growth for blockchain
Founding partner of CMMC Global, Charlie Morris commented on the funding saying, “We are thrilled to be leading this funding round into Ajuna. The platform empowers studios to incorporate immutable digital assets into their games, resulting in powerful new experiences for gamers. We are excited about the upcoming releases on Ajuna and look forward to supporting the team as they take blockchain gaming mainstream.”
Ajuna offers a product suite making it possible for developers to use leading game development engines such as Unreal and Unity to create decentralized games. This is intended to make it easier for both experienced game developers and new to enter the space of Web3 gaming. The funding will help Ajuna create additional support for more game engines and continue to support its current projects.
One of the biggest challenges facing blockchain gaming is reaching mainstream audiences. Platforms that help streamline game design for blockchain titles could play a huge part in the growth and adoption of blockchain gaming. Last year the Web3 space managed to secure $7.1 billion in funding despite it being a turbulent year for the crypto market. The year 2023 is looking to be an important one for those working within blockchain.