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- 1 Moonveil Entertainment, a web3 game studio, rakes around $5.4 Million in seed funding from investors.
- 2 The round was led by Arcane Group and Gumi Cryptos Capital and involved other investors including Infinity Ventures Crypto, Longhash, and IOSG.
Seed funding, the first official equity funding stage, vitrines the first official money an enterprise or business venture raises. The process of funding is gaining pace in the Web3 gaming sector and studios. Moonveil Entertainment, a Cayman Island-based Web3 game studio, announced the financing round today, raising around $5.4 Million.
The Seed Funding Round
Moonveil Entertainment, a new Web3 game studio is accountable for delivering the most player-devoted game by leveraging Web3 features. The studio is currently working with Project B, a multiplayer strategy game, and Astrack, an immersive tower defense mobile game.
The company revealed the raise in a statement today, securing approximately $5.4 Million from investors. The seed funding round was led by Arcane Group and Gumi Cryptos Capital and involved many investors including Infinity Ventures Crypto, Longhash, and IOSG.
The Web3 game studio was introduced to the crypto world in the second quarter of 2022 and teamed up with industry veterans mainly with Tencent and Riot Games. Web3 is a concept used to define the next advancement of the internet, constructed over the blockchain technology and is controlled by the users. The concept offers an open-source and interlinked decentralized application created using the blockchain architecture.
“We are focused on the approach which offers freedom to the gamers to choose the games they want to play without any restrictions”, stated Moonveil Entertainment in an interview with The Block. The purpose of the studio is to make gamers fearless and play games without being restricted by equipment, channels, platforms, or any other requirement, added Moonveil Entertainment.
The gaming studio is a top-tier game creator with a solid positioning in the gaming industry. Experiences including Minecraft, Team Fight Tactics, and League of Legends made Moonveil Entertainment more powerful in the gaming world. Securing huge seed funding from investors added support to Moonveil Entertainment’s vision. While disclosing the funding statement today, the studio also focused on the contribution and value of gamers in Moonveil’s success story.
According to Moonveil’s team, gamers should receive compensation that showcases their contribution. The case will help in understanding the value of tokenomics and NFTs in the player’s journey. The gaming studio was introduced in 2022 and uses cutting-edge technology to carry out authentic and immersive gaming experiences. The company completed its first funding round on October 27, 2023, and is funded by 5 investors of which Infinity Ventures Crypto and LongHash Ventures are the main investors. Moonveil Entertainment is a leader in digital entertainment, gaming, and video games and is all set to spread the magic of games using Web3 technology.
Conclusion
Moonveil Entertainment, the Web3 gaming studio is all set to compensate gamers for their contribution in the gaming world. The studio raised $5.4 Million in a Seed Funding round led by Arcane Group and Gumi Cryptos Capital. The firm vision is to offer freedom to gamers without fear about the equipment, channels, platforms, or any other requirement.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
