Swiss-based Web3 gaming platform Ajuna has raised $5 million in a new private funding round led by CMCC Global. The investment news resulted in a double-digit rally on Web3 coin.
Web3 gaming platform Ajuna raises $5M in private funding
Decentralized gaming platform Ajuna Network has raised $5 million in a new private funding round led by blockchain-focused venture capital firm CMCC Global. The announcement coincided with the Friday launch of the startup’s “Awesome Ajuna Avatars” NFT game collection, inspired by the company’s flagship game BattleMogs.
The gaming platform had previously raised $2 million in a kickoff round led by Fundamental Labs in February 2022. Other investors for this funding round include OKX Blockdream Ventures, Signum Capital and Animoca Brands, which have invested in Ajuna’s parent company, BloGa Tech AG.
Ajuna offers a suite of products that enables developers to use leading game development engines (Unreal and Unity) to create decentralized games, making it easy for both traditional developers and gamers to get into Web3 games.
The company says that by allowing developers to create Web3 games using existing and common game engines, this will help accelerate lag-prone blockchain games.
Web3 coin price rises in double digits
Running on the Kusama parachain, the Bajun Network (BAJU) acts as the canary network for Ajuna and is backed by the BAJU token. The BAJU token is mainly used to test and promote new Ajuna features, services and functions. BAJU, the Web3 coin of Ajuna Network, gained over 30% after the investment news.
In which areas will the financing be used?
$5 million in funding from CMCC Global will help Ajuna add support for additional game engines, build TEEs, and continue expanding across Polkadot, Ethereum, and Polygon. According to the press release, Ajuna will also help support projects being built and launched on its network.
Charlie Morris, co-founder of CMCC Global, said in a press release, “We are excited to direct this funding round to Ajuna. The platform gives studios the power to engage NFT games, providing powerful new experiences for gamers.
Investing in Web3-related projects has gained momentum this year, although the volume of investment in crypto companies in January fell 91% compared to a year ago. The analysis showed that the Web3 coin market was the second most invested sector after infrastructure projects last month. Last month, crypto gaming platform Oh Baby Games raised $6 million in initial funding, as we reported as Kriptokoin.com.
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