The world of gaming is rapidly evolving, and the latest development is the emergence of decentralized gaming platforms. One such platform, Ajuna Network, recently raised $5 million in a private funding round led by blockchain-focused venture capital firm CMCC Global. This funding will help Ajuna add support for additional game engines, build out the TEEs and continue expanding on Polkadot, Ethereum and Polygon.
The announcement coincided with the Friday launch of the startup’s “Awesome Ajuna Avatars” non-fungible token (NFT) game collection, which is inspired by the company’s flagship game, BattleMogs. Ajuna offers a product suite that makes it possible for developers to use leading game development engines – Unreal and Unity – to create decentralized games, making it easier for both traditional developers and gamers to enter Web 3 gaming. The game engines are run in off-chain, trusted execution environments (TEE) linked to the Polkadot blockchain to reduce latency.
Web3 gaming is an umbrella term to describe games that use cryptocurrency, non-fungible tokens (NFT) or blockchain technology to augment the user experience. The goal of these blockchain-based projects is to empower players and offer them more control over their digital identities and assets. Investing in Web3-related projects has gained traction this year, even as volume of investment in cryptocurrency companies plunged 91% in January from a year earlier.
Ajuna Network is leading the way in the decentralized gaming space, and its recent funding round is a testament to the potential of Web3 gaming. With the help of this funding, Ajuna will be able to continue to develop its platform and offer gamers a more secure and immersive gaming experience.