Moonveil Secures $9M in Extended Pre-Series A Funding

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Layer-2 gaming ecosystem Moonveil has completed a pre-Series A funding round, bringing its total funding to $9 million.

The round featured prominent blockchain VCs including Spartan Group, Gumi Cryptos Capital, HashKey Capital, Animoca Ventures, Hivemind and Mask Network.

According to Moonveil’s announcement, the funding will be used primarily for Moonveil’s infrastructure development and community building efforts. In addition, the company plans to improve its user acquisition strategies targeting Web3 users and GameFi players.

A recent report by DappRadar highlighted that the gaming ecosystem showed more than 4 million unique monthly active wallets in July. This is more than four times the activity recorded in July 2023 by the blockchain gaming sector.

However, it lost its position as the most active blockchain sector in the blockchain industry after more than a year of activity, as artificial intelligence applications increased in popularity last month.

The Moonveil platform, built using Polygon CDK, is fronted by industry veterans from Riot Games, Tencent, Netease, Funplus and CARV. The team currently develops games such as AstrArk and Bushwhack, aiming to set new standards in web3 games with rapid delivery and community-driven development.

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