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Moonveil Entertainment Raises $5.4 M in Seed Funding Lead by Gumi Cryptos and Arcane Group

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Moonveil Entertainment Raises $5.4 M in Seed Funding Lead by Gumi Cryptos and Arcane Group

Moonveil Entertainment merges multiplayer fun with Web3 tech, led by ex-Riot Games leader MJ Wong for a new era of crypto and NFT gaming

Moonveil Entertainment has successfully raised $5.4 million in funding for its ambitious project, which merges multiplayer mobile games with cutting-edge Web3 technology. Led by CEO MJ Wong, a former senior leader at Riot Games in China, Moonveil Entertainment aims to set a new standard for gaming experiences by combining casual flexibility with profound depth. This vision, coupled with their dedication to the gaming community, has attracted notable investors like Gumi Cryptos Capital and Arcane Group.

Moonveil Entertainment was founded by MJ Wong and several other seasoned game veterans. MJ Wong, the CEO, brings a unique background to the table. He initially ventured into investment banking but quickly realized that it wasn’t his passion. A dedicated gamer himself, he transitioned into the gaming industry, joining Riot Games in China. During his seven-year tenure, he started as a junior publishing associate and eventually rose to the position of general manager in China, playing a crucial role in incubating titles like Wild Rift and Teamfight Tactics. Wong left Riot Games in 2019 to explore his startup aspirations.

Games Under Development

Moonveil Entertainment is actively developing two multiplayer mobile games, Astrark: Stage One and Project B. Astrark: Stage One is an immersive tower defense game that revolves around player-versus-player (PvP) and player-versus-environment (PvE) battles, as well as cooperative multiplayer experiences. In this game, players have the freedom to choose their commander character, assemble their team members, and customize their development system to create formations on the tactical squad interface. They can opt for various battle modes, challenge opponents, and immerse themselves in the gameplay.

On the other hand, Project B, the second game in development, remains a well-kept secret at the moment. The company promises to unveil this intriguing project in November. Moonveil aims to create a mid-core game that’s easy to pick up, offering a deep and immersive gaming experience. Each game session is designed to last around five minutes on average, ensuring that it takes less than three minutes to learn and enjoy. Despite its simplicity, Project B is projected to provide hundreds of hours of immersion and exploration.

Web3 Integration and Empowering Gamers

Moonveil Entertainment’s approach to the gaming industry extends beyond traditional game development. They firmly believe that gamers deserve better recognition and compensation for their investments, whether it’s time, money, or ideas, in their favorite games. The company is dedicated to building an open ecosystem that continuously engages players and offers ongoing rewards and recognition. The goal is to ensure that players receive recognition that reflects their contributions to the gaming world.

Web3 technology plays a central role in Moonveil’s vision. They view Web3 as a potent tool that empowers games in three fundamental ways:

  • Connection: Web3 bridges the gap between a gamer’s achievements and their compensation.
  • Validation: It reaffirms the company’s commitment to players who actively contribute.
  • Legitimization: Web3 legitimizes players’ ownership of in-game assets and achievements throughout their lifetimes.

Moonveil’s approach is player-centric, emphasizing the need for gamers to have the freedom to choose the games they love without being restricted by platforms, channels, or equipment requirements. Players are encouraged to participate in the gaming world on their own terms.

Community Building and Financing

A key aspect of Moonveil’s philosophy is the emphasis on building strong player communities throughout a game’s life cycle. The company values community synergy and collaboration, fostering a sense of togetherness among gamers.

MJ Wong, CEO of Moonveil Entertainment, believes in the potential of financing in gaming but warns against speculators and those who might abuse the system. He draws historical parallels with the days of J.P. Morgan in the late 19th century and the dot-com bubble in 2000, where early adopters often included speculators. However, Wong sees financing as a positive development when it is used to support companies, products, and games. The key, he emphasizes, is to build a community with good intentions and to reward members with meaningful incentives that reflect their contributions.

Wong acknowledges the challenges in the larger cryptocurrency environment and mentions that Moonveil Entertainment has temporarily postponed its plans to roll out non-fungible tokens (NFTs). “We also know that a bunch of gaming studios are running out of money. So, they’re all in their NFT launches and PR and campaigns in Q4, as either blockbuster or die,” Wong said. Explore Our Worldwide Gaming Adventure

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Moonveil Entertainment Raises $5.4 M in Seed Funding Lead by Gumi Cryptos and Arcane Group

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P2E News, short for “Play-to-Earn News,” is a category of updates and information within the broader spectrum of Crypto News, Web3 News, NFT News, and Blockchain News. These terms are all interconnected and represent various facets of the rapidly evolving digital landscape.

Play-to-Earn (P2E) is a gaming model that has gained immense popularity within the crypto and blockchain communities. In P2E games, players can earn cryptocurrencies or NFTs by participating in the game, often through activities like completing quests, collecting items, or trading assets. P2E News covers developments, announcements, and trends related to these innovative gaming experiences that allow players to monetize their in-game efforts.

Crypto News, on the other hand, focuses on the broader world of cryptocurrencies, including Bitcoin, Ethereum, and a multitude of altcoins. This category encompasses news about market trends, regulatory changes, new blockchain technologies, and updates related to various tokens. Crypto News is a fundamental aspect of the blockchain ecosystem, as cryptocurrencies serve as the primary means of value transfer and exchange within the Web3 space.

Web3 News is an umbrella term that refers to the next-generation internet, often characterized by decentralized applications, blockchain technology, and smart contracts. The Web3 ecosystem seeks to provide a more user-centric and decentralized internet experience. This category of news covers developments in decentralized finance (DeFi), non-fungible tokens (NFTs), and various other applications built on blockchain technology. For the ultimate and best play to earn games list, check our friends of

NFT News focuses on Non-Fungible Tokens, unique digital assets that are indivisible and represent ownership of a specific item, artwork, or collectible. NFTs have gained prominence in the art world, gaming industry, and entertainment sector. NFT News keeps enthusiasts informed about NFT sales, new projects, and partnerships within the NFT space.

Blockchain News pertains to the foundational technology behind cryptocurrencies and Web3 applications. Blockchains are decentralized ledgers that record transactions across a network of computers, ensuring transparency and security. Updates in this category might include innovations in blockchain consensus mechanisms, interoperability between different blockchain networks, and industry applications beyond cryptocurrencies.

In summary, P2E News is a niche subset of Crypto News, Web3 News, NFT News, and Blockchain News. It focuses on gaming experiences where players can earn cryptocurrencies or NFTs, while the other categories encompass a broader range of topics within the decentralized digital landscape, including cryptocurrencies, web3 technologies, NFTs, and blockchain advancements. Collectively, these categories shape the landscape of the digital economy, offering insights into how technology is revolutionizing various aspects of our lives.