Ajuna Raises $5M to Power Web3 Gaming on Polkadot
• Ajuna Network, a decentralized gaming platform, has raised $5 million in a new private funding round.
• The startup will use the new capital and its previous seed round to fund its expansion.
• Ajuna offers a product suite that makes it possible for developers to use leading game development engines – Unreal and Unity – to create decentralized games.
Ajuna Raises $5M in New Private Financing
Ajuna Network, a decentralized gaming platform, has raised $5 million in a new private funding round led by blockchain-focused venture capital firm CMCC Global. This announcement coincides 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. The funding will help Ajuna add support for additional game engines, build out trusted execution environments (TEEs), and continue expanding on Polkadot, Ethereum and Polygon.
Previous Seed Round
The gaming platform previously raised $2 million in seed round led by Fundamental Labs back in February 2022. Other investors for that funding round included OKX Blockdream Ventures, Signum Capital and Animoca Brands – which investment in Ajuna’s parent company BloGa Tech AG.
Web3 Gaming
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.
Product Suite
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 landscape. These game engines are run in off-chain TEEs linked to the Polkadot blockchain to reduce latency according to the statement seen by CoinDesk on Friday.
Funding Goal
The funding will help Ajuna add support for additional game engines, build out TEEs and continue expanding on Polkadot, Ethereum and Polygon as well as helping support projects building launching on its network according to the company statement seen by CoinDesk Friday.