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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 investment round saw participation from leading blockchain venture capital funds including Spartan Group, Gumi Cryptos Capital, HashKey Capital, Animoca Ventures, Hivemind and Mask Network.

According to Moonveil’s announcement, the funding will primarily be used for Moonveil’s infrastructure development and community-building efforts. Additionally, 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 saw over 4 million monthly unique active wallets in July, more than four times the activity recorded by the blockchain gaming sector in July 2023.

However, it lost its position as the most active blockchain sector in the blockchain industry, after holding that position for more than a year, as artificial intelligence applications gained popularity last month.

Moonveil’s platform, built using the Polygon CDK, is led by industry veterans from Riot Games, Tencent, NetEase, Funplus, and CARV. The team is currently developing games like AstrArk and Bushwhack, with the goal of setting new standards in web3 gaming with rapid delivery and community-driven development.

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