EMURGO Africa’s to Advance Cardano Web3 Adoption.
Adaverse accelerator, formed by EMURGO (parent company of the Cardano foundation) and Everest Ventures Group, a Hong Kong-based venture studio, has announced an investment in Diagon Studios, a Nigerian gaming technology company. The deal will see EMURGO support developing and distributing hyper-casual games, utility, and NFTs (non-fungible tokens) through simple play-to-earn (P2E) models.
This move is part of EMURGO’s more considerable effort to support and grow the African blockchain ecosystem by nurturing local talent and providing them with the resources they need to succeed. Adaverse was established last year to identify and back early-stage blockchain startups in Africa with high potential. So far, they have supported several projects in various industries, such as NFTs, DeFi, and gaming.
Diagon Studios was founded in 2019 by Jeremiah Onojah, a Nigerian engineer with experience in both the Web2 and Web3 spaces. The company is focused on deploying P2E hyper-casual games on the blockchain to help break barriers in the Web3 gaming industry.
With the support of EMURGO, Diagon Studios will develop and distribute its games to a broader audience and explore new use cases for the Cardano blockchain. In addition, EMURGO will provide mentorship and resources to help the company scale its operations.
Shogo Ishida, co-CEO at EMURGO Africa, said, “Focused on hyper-casual gaming that takes out complexity from the gameplay, Diagon Studios is one of the game publishers that stands on the cusp of opening the African space to the realities of play-to-earn, and we are glad to be offering the startup a launchpad and the opportunity to build on Cardano.”
This is a significant move for EMURGO as they continue to push for the adoption of Cardano in Africa. The continent has been identified as a key growth market for blockchain technology due to its large population and underdeveloped financial infrastructure.
With the support of EMURGO, Diagon Studios will be able to accelerate the adoption of Cardano in Africa and help bring blockchain-based gaming to the mainstream.