Diagon Studios, a Nigerian gaming technology company has received an undisclosed investment from Adaverse, a Cardano-focused joint accelerator venture.
Founded by Jeremiah Onojah, Diagon Studios is a Nigerian blockchain GameFi platform focused on deploying P2E hyper-casual games on the blockchain to help break barriers in the Web3 gaming industry. It bridges the gap between work and play by introducing the unique value of blockchain and digital assets with a multifunctional dApp (decentralized application).
Adaverse was launched in September 2021 as a joint venture partnership between EMURGO Africa and Everest Ventures, to identify and provide valuable support resources to promising African founders building the next wave of Web3 dApps in DeFi, NFTs, gaming, metaverse, and more on Cardano’s environmentally-sustainable blockchain.
Diagon Studios intends to scale its platform and issue digital tokens on the Cardano blockchain, one of the largest blockchain networks by market capitalization.
The startup is currently rebranding its model with the deployment of some additional features to bring users a complete blockchain experience. Having launched the first version of the product which scaled up to 3,000 active users, the product is looking to serve as a mainstream collection of casual games, creating a platform where gamers can play casual games in all their glory. One of the key offerings at Diagon Studios will be the instant reward system through the Diagon Tokens (DGN), redeemable at every milestone completed and made accessible to all users, including novice gamers and experts.
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.”
Commenting on the partnership with Adaverse, Diagon Studios Founder and CEO, Jeremiah Onojah stated that, “The Cardano blockchain will offer a better approach to securing transactions for the Diagon project with its eco-friendly platform and large global community. Diagon intends to issue tokens on the Cardano blockchain in the future development stage. With the support of EMURGO Africa and Adaverse, we will be able to do more with the Cardano blockchain. The Diagon studios team will work intensely with Adaverse to be in the best possible shape, hitting the perfect market fit and scaling her products.”
Beyond play-to-earn (P2E) games, the Diagon platform will connect a virtual community of global casual gamers to develop their skills, network, and access more opportunities in Web3 through partnership programs, especially for DGN token holders who will also have staking and governance rights in the platform.
“This startup is all about demystifying the Web3 gaming system in Africa by reaching the grassroots level and providing affordable options targeting low-income earners, to ensure more people find something that interests and pays them while building on a reliable infrastructure. Diagon will be one of the pillars of Africa’s digital future and Adaverse is glad to support this project,” said Vincent Li, founding partner at Adaverse.
