Read

Moonveil Entertainment, a web3 gaming studio, has unveiled a $5.4 million seed investment round, co-headed by Gumi Cryptos Capital and Arcane Group.
The investment was spearheaded by Gumi Cryptos Capital and Arcane Group, with additional contributions from Longhash, IOSG, and Infinity Ventures Crypto.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We are thrilled to announce the closing of our $5.4M seed round of fundraising, led by <a href="https://twitter.com/GumiCryptos?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@GumiCryptos</a> and <a href="https://twitter.com/ArcaneGrp?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@ArcaneGrp</a> attracting substantial support from other renowned investors such as <a href="https://twitter.com/LongHashVC?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@LongHashVC</a> <a href="https://twitter.com/IOSGVC?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@IOSGVC</a> <a href="https://twitter.com/ivcryptofund?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@ivcryptofund</a>, etc. More details👇<a href="https://t.co/0ZJENQr1ya" target="_blank" rel="noopener noreferrer nofollow">https://t.co/0ZJENQr1ya</a>— Moonveil Entertainment (@Moonveil_Studio) <a href="https://twitter.com/Moonveil_Studio/status/1717738016134066624?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 27, 2023</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
Established in the final quarter of 2022, Moonveil has been operating under the radar until its recent announcement. The studio’s leadership comprises industry experts who have previously worked with renowned companies such as Riot Games and <a href="https://crypto.news/tencent-cloud-enters-web3-strikes-deals-with-avalanche-ankr/" rel="noopener noreferrer nofollow">Tencent</a>.
You might also like: <a href="https://crypto.news/web3-games-raised-600m-in-q3-50-less-than-in-2022/" rel="noopener noreferrer nofollow"> Web3 games raised $600m in Q3, 50% less than in 2022 </a>
Moonveil is presently focused on developing two major projects: Astrark, a tower defense mobile game, and Project B, a multiplayer strategy game.
The company aims to create a gaming environment that champions meritocracy. Moonveil believes gamers should be free to select the games they wish to play, unrestricted by platforms, channels, or hardware. The studio emphasized this ethos in its official statement, advocating for a player-centric approach.
Moonveil also touched upon the role of tokenomics and NFTs in modern gaming. According to the company, these technologies will be crucial in tracking players’ contributions to the gaming ecosystem. Moonveil aims to offer compensation that accurately reflects these contributions, which will be recorded in a manner that is both flexible and immutable.
The company has opted not to disclose its current valuation following the funding round.
Read more: <a href="https://crypto.news/non-genuine-players-disrupt-stability-of-web3-games-research-shows/" rel="noopener noreferrer nofollow"> Non-genuine players disrupt stability of web3 games, research shows </a>

Moonveil raises $5.4m in seed funding for web3 gaming

crypto.news

Other articles published on Oct 27, 2023

SBF trial day 13: FTX founder claims ignorance in mock testimony

Aviation’s $1 trillion fake parts problem: Can crypto bros provide a solution?

Over $4.5B Worth of Bitcoin and Ethereum Options Set to Expire

Bitcoin price reaches all-time high against the Nigerian Naira, Peso and Lira

Bitcoin restarting 2023 uptrend after 26% Uptober BTC price gains — research

Bitcoin Price to Rocket to $125K by 2024: Is It Time to Invest?

Join our free newsletter for daily crypto updates!