Quick take:
- Ajuna Network has announced a $5 million round led by CMCC Global.
- The company also announced its non-fungible token (NFT) game collection “Awesome Ajuna Avatars”.
- In February 2022, Ajuna’s parent company BloGa Tech AG raised $2M in a seed round backed by Fundamental Labs.
Ajuna Network has announced a $5 million private round led by CMCC Global, CoinDesk reported. The web3 gaming platform’s parent Bloga Tech AG previously raised $2 million in a seed round led by Fundamental Labs, with participation from OKX Blockdream Ventures, Signum Capital and Animoca Brands.
Ajuna said it will use the capital raised from two rounds to ramp up the development of its gaming ecosystem, including adding new game engines to continue expanding on the Polkadot Network.
The company offers a gaming stack that enables traditional game developers to leverage leading game engines from Unreal and Unity to build blockchain-enabled games, making it easier to onboard mainstream gamers to web3.
Ajuna also announced the launch of its non-fungible token (NFT) game collection “Awesome Ajuna Avatars”, which draws inspiration from its flagship game BattleMogs.
Commenting on his company’s leading role in the private round, CMCC Global founding partner Charlie Morris said: “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.”
Although web3 funding has slowed overall over the past six months, gaming activity in web3 continued to grow in January increasing to 48% of all blockchain activity up from 45%, according to a DappRadar report.
This comes at a time when crypto winter still looms at large following last year’s FTX, 3AC and Voyager bankruptcies.
Although adding web3 gaming elements to traditional games faced criticism in the initial stages, blockchain gaming platforms like Ajuna have established a better way of integrating traditional games.
According to Ajuna Network, its game engines “run in off-chain, trusted execution environments (TEEs) linked to the Polkadot blockchain to reduce latency.” Traditional game developers can leverage such platforms to offer blockchain-based incentives to players without affecting the quality of their games.
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