The funding aims to advance the development of Layer 2 gaming ecosystems and boost the overall adoption of Web 3 gaming.
Moonveil Studios, a Web 3 gaming platform designed for interoperable games, announced a series A funding round, this Thursday. The latest funding round extends its Series A fundraising to $9 million featuring some of the top blockchain/crypto and Web 3 gaming VCs.
Moonveil Studios launched in 2023 offering a gamer-first gaming platform that is scalable and provides easy-to-build toolkits for its developers. The platform designs authentic Web 3 game-centric experiences that aim to drive the next cohort of gamers to blockchain gaming and metaverses tailored for the next generation of gamers.
The latest fundraising efforts aim to push for the development of a layer 2 ecosystem for Web 3 gaming, the press statement reads. Some of the notable investors in the latest Series A funding round, include Spartan Group (who also participated in the previous round), Gumi Cryptos Capital, HashKey Capital, Animoca Ventures, Hivemind, and Mask Network. This brings the total number of investors in Moonveil Studios to 26, following a seed funding round that was led by P2 Ventures.
Better Infrastructure and Expanding User Acquisition
According to the team, the fresh capital will be utilized in the development of Moonveil infrastructure, community building, and marketing efforts. It will be used to expand the user acquisition strategies with a focus on Web 3 users and onboarding new and seasoned GameFi players.
Earlier this year, Moonveil announced plans to build a dedicated ecological gaming ecosystem using Polygon CDK. This game ecosystem leverages aggregation and cross-game interoperability to redefine Web3 gaming. Players and game developers alike will be able to capture more of the value they create by building reputable, on-chain identities—and, crucially, be able to interoperate across a robust, aggregated gaming ecosystem.
The team of seasoned veterans in the gaming market drive forward the project, with its founders having previous experience in several top gaming studios. The team has members who have previously worked at Riot Games, Tencent, Netease, Funplus, and CARV – building top gaming titles such as League of Legends, Valorant, Minecraft, and EVE Online. With the latest capital injections, the team plans to bring more gaming titles to Moonveil while enhancing their first two titles – AstrArk and Bushwhack.
Moreover, Moonveil will use the funds to build a new standard for Web 3 gaming, with self-developed, top-tier products on a ZK-powered Layer 2 chain. Finally, the team will ‘work on revolutionizing gamer-focused titles through rapid delivery, community-driven development, and agile iteration, as well as fostering a vibrant ecosystem for game developers and building highly engaging titles for their users.
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