UnCaged Studio Raises $24 Million to Support Development of Web3 Gaming Including MonkeyLeague
Israeli gaming studio UnCaged Studio, the team behind Solana-based triple AAA title ‘MonkeyLeague’, a play-to-earn, Web3, turn-based multiplayer soccer game has successfully raised $24 Million USD in a Series A equity funding round. This comes after UnCaged's $4 million tokens presale for MonkeyLeague.
What is MonkeyLeague
MonkeyLeague, built on Solana, is an esports metaverse. It is built upon the Unity Engine and features a fast-paced and play-to-earn arcade where players are tasked with developing their ultimate Monkey League Squad which consists of four monkeys with different positions such as Striker, midfielder, defender, and goalkeeper.
Each Monkey possess' characteristics that allow them to perform better in certain positions and each match is between two teams and lasts 12 rounds.
The game also consists of in-game tokens known as MonkeyBucks which can be purchased on decentralized exchanges or earned through playing in matches, finishing tasks, spectating matches, hosting games and opening treasure boxes.
These tokens can be used to buy consumables for the Monkeys or breed Monkeys.
SCORE is Monkey Leagues governance token allowing holders access to the Decentralized Autonomous Organization (DAO) and allow for voting and governance process as well as decisions that impact the treasury which is yet to be introduced
Series A funding from some of the biggest names in the industry
This funding comes from some of the biggest names within the industry with participation from Vgames, Maverick ventures Israel, Griffin Gaming Partners and was driven by DraftKings and 6th Man Ventures.
This funding is going to be used for development on the Solana based esports franchise Monkeyleague before they go public and launch at the end of the year. This funding, however , will also be used on development towards Game OS.
In an interview with , the co-founder of UnCaged Studio, Raz Friedman said “We could’ve taken money from crypto funds, but it’s stronger to take it from the game industry and believers”. He also added “We are a gaming company first that is utilizing and bringing web3 into games, rather than being a web3-first company.”
Game OS is UnCaged's native platform and uses their end-to-end developer platform, Web3 and Non-Fungible tokens (NFT) integration to allow more accessibility for developers and game studios to take advantage and shift their companies to the Web3 space. It also handles the technical aspects of Web3 such as wallet integration, the technical NFT infrastructure and Economy as well as user management.
UnCaged Studio was founded by Raz and Tal Friendman, brothers who had experience as they worked in Playtika which is an Israel-based digital entertainment company. Raz Friedman serves as the company's CPO and Tai Friendman works as the studio’s general manager.