Recently, Jambo announced that it had raised $7.5 million from a funding round. The project called superapp is aimed to increase the play-to-earn and revenue opportunities, especially for African youth.
Jambo has already reached 12,000 students from 15 different countries within the project’s scope. These students will be given training on ways to generate income from play-to-earn games and the decentralized finance system.
James Zhang, the Co-Founder and CEO of Jambo, explained the purpose of the app as follows:
“Jambo aims to empower and bootstrap the continent by offering education and earning opportunities. We have the long-term vision of realizing financial prosperity for billions across the continent and are committed to fostering the next generation of Web3 innovators, builders, and creators. Jambo serves as the gateway to Web3, but it is so much more than that. By aggregating these critical services in one ‘superapp,’ we aim to change the lives of billions.”
As it turns out, Jambo will include many training and services for Web3 systems. Services available to gamers and developers will increase Africa’s revenue from the game industry.
Among the participants of the investment tour were names such as Coinbase, Three Arrows Capital, Alameda Research, Tiger Global, Delphi Digital, DeFiance Capital, Hashed, Polygon Studios. Kyle Davis, Co-Founder and President of Three Arrows Capital, stated the following regarding Jambo:
“We believe the Jambo ecosystem will create a net positive inflow of value to local economies and leapfrog the future of innovation in Africa and we couldn’t be more excited to support Jambo along their journey!”