With the goal to revolutionize gaming by seamlessly integrating blockchain technology and non-fungible tokens (NFTs), Ajuna Network secured a $7 million funding round led by investment firm CMCC Global. The company is the first gaming chain on Polkadot (DOT) and is poised to bring a new level of excitement and interaction to the gaming world.
To bring its vision to life, Ajuna Network invests in community products and supports teams deploying their games and products on its network.
The company’s efforts in the gaming industry have already received recognition, as it has won the recent parachain auction on the Polkadot network. The win solidified the company’s position as the Polkadot gaming chain and a driving force behind the revolution of the industry.
The Integration of Blockchain in Gaming
Integrating blockchain and NFTs has been a slow and technical process for game developers. The Ajuna Network aims to change that by offering a suite of fully integrated tools with the industry-leading development engines, Unreal and Unity.
This integration eliminates the barriers to entry for both traditional gamers and game developers, enabling the latter to create overall higher-quality decentralized games using these engines.
Off-chain game operators that utilize trusted execution environments (TEEs) will also be improved drastically. It will reduce latency and provide a smoother gaming experience, enhancing the potential of blockchain technology in the gaming world.
The Potential of NFTs in Gaming
NFTs are digital assets that are unique, scarce, and verifiable on the blockchain. Players can own and trade virtual assets with complete ownership and control, something not possible in traditional gaming.
Grand View Research estimates the global NFT market to reach $211.72 billion by 2030, registering significant growth from its current value of about $27 billion. Additionally, NFT-based games will account for a large chunk of that.
The Ajuna Network is already a recognized player in the GameFi industry, with its parachains, Bajun and Ajuna Network, live on Kusama and Polkadot, respectively.
With the Awesome Ajuna Avatars game already inspiring developers, this could be a taste of the future yet to come.
Challenges the GameFi Industry Faces
Despite the ability to manage virtual possessions, blockchain-based games often fall short in terms of visual appeal, user engagement, and overall gaming experience. Additionally, many of these games lack diversity in gameplay, often relying heavily on grinding to accumulate assets. Furthermore, players risk their hard-earned items losing value due to the decisions made by game companies.
Ajuna seeks to solve these pressing difficulties by offering a seamless experience to game developers. The company will develop its existing tools further, making blockchain technology integration into gaming effortless, resulting in a more enjoyable experience for both developers and players.
In addition to improving the gaming experience, the Ajuna Network also provides a new level of transparency and security that is not available in traditional gaming. Using blockchain technology, game developers can ensure that digital assets are immutable and that gameplay is fair and secure.
The vision is to make the use of blockchain technology in gaming an effortless experience for everyone involved, effectively establishing it as a fundamental infrastructure for the industry. The Ajuna Network will allow gamers to continue playing their favorite games and control the virtual goods associated with them as long as they want.
The Takeaway
In conclusion, as the first Polkadot gaming chain, the Ajuna Network will significantly impact the gaming industry in 2023 and beyond. Its ultimate goal of developing an interoperable, decentralized gaming ecosystem is ambitious and visionary.
The Ajuna Network is at the forefront of a revolution in the gaming world, bringing a new level of excitement, security, and transparency to the industry. With its recent funding round and its commitment to innovation, this development is something to pay attention to.
