EMURGO Africa’s Adaverse Invests in Blockchain Platform, Diagon Studios, to Promote Cardano Web3 Adoption

Adaverse, a Cardano-focused joint accelerator company, has announced a strategic investment in Diagon Studios, a Nigerian gaming technology company focused on the development and distribution of hyper-casual games, tools and NFTs through simple play-to-earn (P2E) models.

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. EMURGO Africa is one of the investment arms of EMURGO, a founding entity of the Cardano blockchain.

What is Diagon Studios?

Diagon Studios is a Nigerian blockchain GameFi platform focused on distributing P2E hyper-casual games on the blockchain to help break barriers in the Web3 gaming industry. Founded by Jeremiah Onojah, a seasoned engineer with years of experience building solutions in the Web2 and Web3 spaces, Diagon Studios bridges the gap between work and play by introducing the unique value of blockchain and digital assets with a multi-functional dApp (decentralized application). Diagon intends to scale its platform and issue digital tokens on the Cardano blockchain, one of the largest blockchain networks by market capitalization.

Diagon believes that video games should remain highly entertaining, less complex and easily accessible, while offering realistic income prospects for anyone with a mobile phone.

Currently, Diagon Studios is changing its model with the deployment of some additional features to provide users with a complete blockchain experience. After launching the first version of the product which scaled up to 3000 active users, the product looks set to act as a mainstream collection of casual games, creating a platform where players can play casual games in all their glory. One of the key offerings of Diagon Studios will be the instant reward system through Diagon Tokens (DGN), which can be redeemed at each completed milestone and made available to all users, including beginners and experts.

Additional features to be deployed in the Diagon ecosystem will include the Diagon Shop-and-Refill, a crypto-powered platform that will support the trading of gift cards, the purchase of data plans and gaming assets. Crypto payments for online courses, e-books, gadgets, etc. will also be supported. The rebranding process will also include the deployment of Diagon Ads Vista, a platform where users will be able to subscribe to ads of their choice. As the model scales, an NFT Marketplace will also be created where anyone can own a part of the metaverse as both creators and collectors of digital collectibles.

Why Diagon Studios?

The GameFi industry is one of the fastest growing sectors in blockchain and Web3 that is getting a lot of competition and pushing the crypto market volume. However, globally popular P2E games become quite expensive and complex to play for intermediate and novice players. By introducing a variety of casual games with a user-friendly interface, Diagon Studios is critically lowering the entry barrier to Web3 for everyone worldwide.

Unlike the traditional video game market with declining revenues, which is predicted to plunge further in the following years, blockchain P2E games have taken giant leaps in recent years, registering a significant growth of over 2000% in 2021. The revolutionary evolution of cryptocurrency enabled a unique in-game P2E economy where players can extract value from the entire gaming experience, converting it into a significant source of income. With this trajectory, the blockchain gaming market is projected to rise from an estimated $1.5 billion in 2021 to a staggering $50 billion by 2025, increasing worldwide gaming revenue and creating new economic opportunities for more people to access the Web3 economy.

Shogo Ishida, co-CEO of EMURGO Africa, said: “Focused on hyper-casual gameplay that takes complexity out of gameplay, Diagon Studios is one of the game publishers poised to open the African space to the realities of play-to-earn, and we are delighted to offer the launch of a starting platform and the opportunity to build on Cardano”.

Jeremiah Onojah (Founder and CEO)

Commenting on the partnership with Adaverse, Diagon Studios founder and CEO Jeremiah Onojah stated that “The Cardano blockchain will offer a better approach to secure 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 will we could do more with the Cardano blockchain Diagon studio team will work intensively with Adaverse to be in the best possible shape, hit the perfect market fit and scale her products.

Beyond play-to-earn (P2E) gaming, 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 input and management rights in the platform.

“This startup is about demystifying the Web3 gaming system in Africa by reaching the grassroots level and offering affordable options aimed at low-income earners, ensuring that more people find something that interests and pays them while building on a reliable infrastructure. Diagon will be one of the pillars in Africa’s digital future, and Adaverse is delighted to support this project”, said Vincent Li, founder of Adaverse.

About Adaverse

Adaverse is a catalyst for the Cardano ecosystem in Africa, dedicated to investing, mentoring and providing standardized technical support for organically grown startups building the next wave of Web3 decentralized applications, including NFTs, DeFi and others on Cardano’s third-generation blockchain.

Since its launch in 2021, through a joint venture partnership between EMURGO Africa and Everest Ventures, Adaverse has closed strategic investments in over fifteen (15) crypto-native startups and aims to support more promising game-changing solutions in the African ecosystem. Through periodic physical meetings and the 3-month intensive accelerator program for startup founders, Adaverse aims to be a launch pad for Cardano-focused projects emerging across Africa and the Middle East to usher in the rapidly growing digitally dependent global economy.

Adaverse is open for applications from entrepreneurs all year round. Apply for funding here.

To start making money on easy-to-play games, visit Diagon Studios website.