October 31, 2023

Web3 Gaming Studio Moonveil Entertainment Raises $5.4 Mln



Moonveil Entertainment, a web3 gaming studio, has raised $5.4 million in a seed investment round.

The company is funded by five investors, with Infinity Ventures Crypto and LongHash Ventures being the main investors. Moonveil Entertainment is a pioneer in using Web3 technology to spread the magic of games and entertainment.

Moonveil, established in the final quarter of 2022, has been operating quietly until its recent announcement. The studio is led by industry experts who have worked with renowned companies such as Riot Games and Tencent.

Moonveil is working on two major projects: Astrark, a tower defense mobile game, and Project B, a multiplayer strategy game.

The company aims to develop a gaming environment that bolsters meritocracy.

During an interview with The Block, Moonveil Entertainment pointed out that it focuses on giving gamers the freedom to choose the games they want to play without any restrictions. The studio aims to enable gamers to play games without any limitations or requirements, such as equipment, channels, or platforms. Moonveil Entertainment aims to make gaming a more fearless experience for all.

Moonveil also believes in the necessity of tokenomics and NFTs in modern gaming, considering these technologies will be highly important in tracking players’ contributions to the gaming ecosystem.

Moonveil eyes offer compensation that accurately reflects these contributions, which will be recorded in a flexible and immutable manner.

The company has not revealed its current valuation after the funding round.

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