The web3 gaming studio UnCaged announces raising $24 million in Series A Equity. The funding resourcefully exemplifies Monkey League and UnCaged Studios’ mission to redefine gaming with GameFi 2.0.
“We could’ve taken money from crypto funds, but it’s stronger to take it from the game industry and believers,” says Raz Friedman, co-founder, UnCaged.
UnCaged Studios will use the Series A funds to:
- Finish developing the play-to-earn MonkeyLeague game, releasing its first franchise, matchplay’s multi-role ecosystem.
- Future games and their gaming infrastructure development.
- Finish developing a variety of esports games to leverage NFT MonkeyPlayers.
- Complete GAME OS’ development to ease transition from web2 to web3.
- Expand network and ecosystem via high-potential partnerships.
Raz states gaming quality is still lacking; there’s potential “to create communities and games that can be sustainable for years.”
UnCaged Studios’ co-founder Tal Friedman says, “web3 gives real power to gamers being partners and sharing revenues, which is a big change.”
Preceding this Series A funding is the initial token presale of $4 million for the MonkeyLeague game.
Also Read: Magic Eden Inaugurates Web3 Gaming Arm Named Magic Ventures
UnCaged Studios is now aiming to develop the web3 play-to-earn concept games, with “high production content.”
This funding round is courtesy of prominent gaming VCs, viz. Griffin Gaming Partners, Vgames, Maverick Ventures Israel, Drive by DraftKings, and 6th Man Ventures.
