Web3 mobile multiplayer games are in the works at Moonveil Entertainment, as the company raises $5.4 million from a two-part round led by Gumi Cryptos Capital and Arcane Group.

Other supporters in the round included Longhash, IOSG and Infinity Venture Crypto, joining existing partners and investors from Fir Crypto to Double Peak to Krafton.

As reported by GamesBeat, Moonveil’s round began in September 2022 and concluded only recently, with $3 million raised at the start and another $2.4 million at its closing.

Web3 for the players

Moonveil is currently working on two games - tower defence strategy title AstrArk being the primary among them and teased with a "See you in Q4". When it launches, players will choose a commander, assemble a team and enter a range of PvP and PvE battle modes.

A multiplayer game known as Codename Project B is also in the works. Further details are expected to be revealed next month.

Moonveil was founded by an ex-Riot leader in China, MJ Wong, together with other industry veterans. He was involved in titles including Wild Rift and Teamfight Tactics, and prior to his time at Riot, Wong was an investment banker. He remains intrigued by the potential of Web3.

In fact, Web3 marks an integral tool in empowering Moonveil’s games, bridging gamers’ accomplishments with decentralised rewards and demonstrating the company’s "commitment to players who dedicate themselves to contributing".

Wong said: "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 achievement and out-of-game accomplishments in a more effective way. And I personally truly believe gamers need to be and should be better treated right now."

Last month, Zynga, FunPlus and NetEase veterans received an investment for an NFT dinosaur game.