Moonveil Entertainment Rakes in $5.4 Million: A Leap for Web3 Gaming

by Nik Asti

Published: October 27, 2023 at 2:27 am Updated: October 27, 2023 at 2:27 am

by Victor Dey

Edited and fact-checked:

In Brief

Moonveil Entertainment unveiled its financing round, spearheaded by Gumi Cryptos Capital and the Arcane Group.

Moonveil Entertainment, a web3 game studio anchored in the Cayman Islands, has successfully locked in a robust $5.4 million during its latest seed funding round. The lead investors steering this venture were Gumi Cryptos Capital and the Arcane Group.

Although founded in the last quarter of 2022, Moonveil has kept its operations discreet, only emerging from its stealth phase with today’s funding announcement. The company’s pedigree shines with a leadership roster featuring industry stalwarts previously associated with giants like Riot Games and Tencent.

Currently, the studio is channeling its resources into two ambitious projects. One is ‘Astrark’, a captivating mobile game that promises an immersive tower defense experience. The second, known cryptically as ‘Project B’, tantalizes as a multiplayer strategy game.

We are thrilled to announce the closing of our $5.4M seed round of fundraising, led by @GumiCryptos and @ArcaneGrp attracting substantial support from other renowned investors such as @LongHashVC @IOSGVC @ivcryptofund, etc.

More details👇https://t.co/0ZJENQr1ya

— Moonveil Entertainment (@Moonveil_Studio) October 27, 2023

A Paradigm Shift in Gaming

Moonveil’s vision carves a distinct path in the gaming world. They champion a system where gamers, unbridled by platforms or equipment constraints, enjoy the autonomy to select their preferred games. This philosophy, as articulated in their statement, emphasizes a meritocratic ethos, reinforcing a gamer’s right to uninhibited choice.

Taking things a notch higher, Moonveil aspires to pioneer a gaming ecosystem where players reap rewards proportional to their input. By leveraging the transformative potential of tokenomics and NFTs, they aim to meticulously chronicle each player’s contribution, ensuring it mirrors their diverse activities, be it gameplay, promotions, or in-game purchases.

While this funding round amplifies Moonveil’s footprint in the web3 gaming arena, the studio remains tight-lipped about its current valuation. However, with such financial backing and a clear vision, Moonveil Entertainment is undoubtedly poised to make significant strides in the evolution of web3 gaming.

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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master’s degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti