Moonveil Entertainment Raises $5.4million for Web3 Games
The Web3 gaming studio is led by industry veterans from Tencent and Riot Games.
Moonveil Entertainment, under the leadership of CEO MJ Wong, has secured $5.4 million in funding. This substantial financial backing is poised to catapult the company into the vanguard of web3 mobile game development. The aim of this fundraising is to create games that strike the delicate balance between accessibility and depth, poised to redefine the mobile gaming landscape.
Led by industry stalwart CEO MJ Wong and a team of experienced gaming giants, Moonveil Entertainment has shown a remarkable dedication to delivering exquisite gaming experiences. Additionally, other founders of Moonveil Entertainment have also come from reputable gaming companies such as Riot Games, Tencent, and the wider crypto community.
Gumi Cryptos Capital and Arcane Group led the funding journey in a two-part round. Notable investors such as Longhash, IOSG, and Infinity Venture Crypto also provided support. An amount of $3 million was initially raised in September 2022, which was then followed by an additional $2.4 million.
Moonveil’s Projects: AstrArk and Project B
Moonveil Entertainment is also developing two projects, namely Astrark, an immersive tower defense mobile game, and Project B, a multiplayer strategy game. AstrArk features a player-versus-player (PvP) and player-versus-environment (PvE) battle. In this gaming project, players are given the power to select their commanders, build formidable teams, and engage in diverse battle modes.
MJ Wong said:
“We truly believe that there could be value that we can bring from the web3 features and community. A lot of other web3 games go about it the wrong way in my opinion. We see the value from web3 by providing connections that can help the players to connect your endgame achievements and out-of-game accomplishments in a more effective way.”
Meanwhile, the team has kept Project B shrouded in mystery, with interesting details set to be revealed in November 2023. The goal of this is to craft a mid-core game that combines accessibility with an immersive, unforgettable experience.