Uncaged Studios Rakes $24 Million In Series A Funding

  • The participants in the Uncaged funding round, include Griffin Gaming Partners, Vgames, Maverick Ventures Isreal, Drive by Draftkings, and 6th Man protocol.

In a bid to fund its Solana-oriented esports franchise MonkeyLeague, a popular Web3 gaming developer, identified as UnCaged Studios has gathered about $24 million in its series A funding. 

Reportedly, the participants in the funding round, include Griffin Gaming Partners, Vgames, Maverick Ventures Israel, Drive by Draftkings, and 6th Man protocol.

A statement credited to a representative of the gaming outfit revealed that the firm is currently worth about $150 million. Now, UniCaged with the raised funds plans to invest in the development of its franchise monkey league game. 

Uncaged and the Web3 Industry 

According to findings, it hopes to unveil the gaming innovation before the end of 2022. Worth noting that the Solana-based exports franchise, MonkeyLeague already possessed a $4 million token presale before this funding manifested. 

Additionally,  the gaming venture intends to channel the raised funds to its future projects developed on the native Game OS platform.

Reportedly, the Game OS network assists firms venturing into blockchain gaming via its enabling end-to-end developer platform. Additionally, it paves way for game-oriented ventures to migrate from web2.0 to web3.0. This platform, as revealed, also serves as a vehicle for NFT incorporation. 

A co-founder of the web3 gaming firm, Raz Friedman, expresses a preference for seeking funding from the gaming sphere rather than obtaining crypto funds. Uncaged remains a game-oriented firm, working to incorporate web3.0 into games, Raz added. He reiterates the commitment of his team to coming up with a spectacular game that will revolve around Monkeyleague. This, according to him, tends to bring lucrative profits to the firm. 

Side Notes

Worth noting that Uncaged Studios was founded by two brothers, identified as Raz and Tal Friedman. The duo initially worked as employees of Playtika, an Isreal-based gaming outfit. To date,  Bar-Geffen, a former founder and CEO of COTI, is the current chairman of Uncaged studio.

However, just like Uncaged Studios, other web3.0 game-oriented outfits have also made huge efforts to aid developers of blockchain games. For instance, Planetarium Labs, a well-known gaming firm, in the past week, gathered over $32 million in its Series A funding round. 

According to reports, the funding round was led by Animoca Brands, a Hong Kong-based game software firm. Similarly, a blockchain-powered competitive gaming platform, Joyride, gathered over $14 million in a seed funding round a few months ago.

Rebecca Davidson Verified

Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”

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