Shima Capital is delighted to have invested in Magna, the leading token cap table, on-chain vesting token distribution, and token fund admin platform. Magna raised a $15 million seed round at a $70 million valuation led by Tiger Global and Tusk Venture Partners.

Why Shima Capital Invested in Magna

Magna helps to track your fundraising, execute your TGE, and manage your token unlocks in one compliant cap table platform.

Shima Capital incubated Magna under the thesis that tokens are the primitive core of Web3. An atomic unit of programmatically transferable value. ​​While many resources have sprung up for managing the token spend. There are surprisingly few platforms for managing tokens as programmable value capsules and securely distributing them to key stakeholders. It is rare to come across a team as strong as Magna’s with a project that directly addresses such a pressing, significant industry-wide issue.

Introduction to Magna

Before Magna, crypto companies would manage the planning, distribution, and maintenance of tokens through a mix of Excel spreadsheets, manual work to verify wallets and transactions, and custom contracts for the actual token delivery. If we wish to accelerate the pace at which tokens become the world’s unit of capital, inefficient and problematic industry standards like this must be abandoned.

Through their veteran experience and stellar abilities. The Magna team is well-positioned to build the system of record for token ownership and the main platform through which teams manage their token distribution. Beyond token vesting, Magna will expand to cover other workflows adjacent to token distribution such as tokenomics benchmarking, tax tracking, lending based on vesting token positions, and mirrotable tokens (tokens that represent a future token position).

At Shima, they have hundreds of portfolio companies and several have tried to build token distribution mechanisms in-house to no avail. These tools should exist as a primitive core and require battle-tested smart contract code, extensive security audits, and a usable interface to get right.

Magna is currently live on Solana and is launching on Ethereum in the coming months.

The overall crypto market cap can be expect to once again surpass $1 trillion dollars in the near future. (if it hasn’t already by the time this is publish). An estimated 20–40% of all tokens in reputable projects will need to be transfer according to vesting schedules. Shima Capital intends to be at the forefront of this through their investment in Magna. As they participate in every step of the process with them. From working with their team to thinking through the problem space, giving tokenomics recommendations.  Introducing them to other top-tier investors, and working alongside them as part of their team, we will be there.

About Shima Capital

Shima Capital is a leading early stage VC firm investing in disruptive blockchain companies. The fund is deeply focus on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation. Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is compose of seasoned investors, accomplished operators, and former founders. Who align on a mission to support all-star teams with building and scaling generational companies.

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About Magna

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Jungo Brief

Jungo is the ONLY Strategy Shooter (physics-puzzle) game on the GameFi market. Based on Blockchain technology, you can earn NFT and currency by shooting off your opponents with all your 50+ animal companions just like what you’ve done in Angry Birds before.

Like what happened in other Blockchain Game, you can EVOLVE and TRADE your animals. You can build up your dedicated team to defeat all opponents in Dual or Tournament (coming soon).

Train your skills to earn more bonuses including NFT & $BLG (gas to evolve animals), and blow off everything stacked in your way to the treasures!

Various game modes including Tournaments, Grand Prize, Streaming Games and even on-site events will be launched every month. You can also be expecting the multiplayer mode for 4 or more players very soon.

It took the team 3 years to bring JunGo before all you players. They are delighted to create products that contribute to the joy of people all over the world. They are all gamers‌, and know what you want from a game. The game has to be fun so that everyone can enjoy playing.

The advent of blockchain technology helps the development of the game to a new level. With the outstanding features of blockchain such as decentralization, security, transparency, freedom, etc, blockchain can help traditional games do things that were not possible before. ‌

They have decided to bring our already very successful project, JunGo, with over 4,000,000 downloads to the blockchain for the above reasons.

JunGo is a game that they have spent a lot of time on over the last three years. With 30+ members, they spent all of our time to bring the exciting experiences to you.

They made a game more exciting than Angry Birds. And they believe that from now on, JUNGO will be the best Strategy Shooter game on the blockchain and is a place where gamers, digital asset owners, and streamers connect to create a world of fun.

VISION

It took the team 3 years to bring JunGo before all you players. They are delighted to create products that contribute to the joy of people all over the world. They are all gamers‌, and know what you want from a game. The game has to be fun so that everyone can enjoy playing.

The advent of blockchain technology helps the development of the game to a new level. With the outstanding features of blockchain such as decentralization, security, transparency, freedom, etc, blockchain can help traditional games do things that were not possible before. ‌

They have decided to bring our already very successful project, JunGo, with over 4,000,000 downloads to the blockchain for the above reasons.

JunGo is a game that they have spent a lot of time on over the last three years. With 30+ members, they spent all of their time to bring the exciting experiences to you.

They made a game more exciting than Angry Birds. And they believe that from now on, JUNGO will be the best Strategy Shooter game on the blockchain and is a place where gamers, digital asset owners, and streamers connect to create a world of fun.

MISSION

JUNGO’s mission is not just to create an excellent game but a game platform that connects crypto and NFT owners with gamers and streamers. These three components will create a sustainable ecosystem that makes gaming, sharing, and in-game peer-to-peer exchange famous worldwide.

They must do the following 3 things to ensure this happens:

Gameplay: It must be really attractive and entertaining, keeping players interested in participating in the game every day for many years.

Social: The game must have great features that help link players together, like the Guild feature which they will upgrade in-game soon, and more to come. Also, the streaming system supports streamers directly to popular platforms such as Facebook/Twitch/YouTube and our future in-game streaming system.

Circulate: In the future, players can use Bananas ($BLG) or Diamonds ($JUNGO) to reward streamers. Digital asset owners will connect with the players, can be a player, and can also work with other players to play the perfect game. They will provide a blockchain-based platform to make it convenient and transparent.

About JunGo

JunGo is a blockchain-based online Play-to-Earn game, featured with diverse NFT items. You can go solo, gather your friends, form a team, battle with others and earn money with just your skills.

Website | Twitter

About Shima Capital

Shima Capital is an investment fund that focuses on supporting cutting-edge blockchain startups. The firm is headquartered in San Francisco, California, United States.

Website | Twitter

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