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Moonveil Entertainment, a web3 gaming studio, has raised a $5.4 million seed investment round, co-led by Gumi Cryptos Capital and Arcane Group.
The investment was led by Gumi Cryptos Capital and Arcane Group, with additional contributions from Longhash, IOSG, and Infinity Ventures crypto.
Established in the last quarter of 2022, Moonveil has been operating under the radar until its recent announcement. The studio’s leadership is made up of industry experts who have previously worked with renowned companies such as Riot Games and Tencent.
Moonveil is currently focused on the development of two major projects: Astrark, a mobile tower defense game, and Project B, a multiplayer strategy game.
The company aims to create a gaming environment that upholds meritocracy. Moonveil believes that gamers should have the freedom to select the games they want to play, without restrictions from platforms, channels or hardware. The studio emphasized this ethos in its official statement, advocating for a player-centric approach.
Moonveil also touched on 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 flexible and immutable manner.
The company has chosen not to disclose its current valuation following the financing round.
