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UnCaged Studio Raises $24M to Support Their MonkeyLeague and New Wave of Web3 Gaming
Summary: UnCaged Studios, a web3 gaming company, has raised $24 million in a Series A funding round with participation from Griffin Gaming Partners, Vgames, Maverick Ventures Israel and more to build out its Solana-based esports franchise MonkeyLeague, according to a blog post Thursday. “This round not only cements UnCaged, and MonkeyLeague, as the premier web3 game ...
UnCaged Studios, a web3 gaming company, has raised $24 million in a Series A funding round with participation from Griffin Gaming Partners, Vgames, Maverick Ventures Israel and more to build out its Solana-based esports franchise MonkeyLeague, according to a blog post Thursday.
“This round not only cements UnCaged, and MonkeyLeague, as the premier web3 game studio and game, but it gives us the resources to complete our mission of redefining gaming with GameFi 2.0 and beyond,” the blog post said.
UnCaged Studios believe MonkeyLeague is the next generation of esports, enabling players to create, play, compete and earn rewards. MonkeyLeague is a turn-based, play-to-earn soccer game that’s “easy to learn yet hard to master.” Operating on the Solana blockchain, it combines non-fungible token (NFTs) and decentralized finance (DeFi) to give users a unique gaming experience.
Not only will the gaming studio complete its development on MonkeyLeague, but it will also continue to build the studio hiring more talented “ninjas,” complete development on a franchise of multiple esports games and significantly expand their network and ecosystem of partnerships.
This announcement comes nine months after their initial token sale which did $4 million. Around the same time, the gaming company announced an initial funding round of $3 million with participation from Solana Capital, Republic, NFX, JUMP and more.
This is just the latest in the web3 gaming movement. Roughly a week ago, Cauldron announced it raised $6.6 million to build “Pixar of web3,” through storytelling. The money will go to its first web3 gaming world called Project Nightshade, expected to release in the fall of this year.
In addition, Magic Eden, a decentralized NFT platform, launched Magic Ventures on Tuesday, a fund designed to focus on investments in web3 gaming. It also plans to expand its own gaming division Eden Games.
Lastly, earlier this week GameStop released their own NFT platform with rumors of adding web3 gaming in the future. Clearly, the web3 gaming world is heating up and many companies find themselves jockeying for position within the industry.
Author: Tyler Irvin
Tags: monkeyleague,uncaged studio,Web3,web3 gaming
Link: UnCaged Studio Raises $24M to Support Their MonkeyLeague and New Wave of Web3 Gaming [Copy]
