**Moonveil Studios Secures $9M in Pre-Series A Funding Amid Crypto Market Uncertainty**

Despite ongoing turmoil in the crypto markets, investors remain committed to funding Web 3 gaming companies. Moonveil, a Layer 2 gaming ecosystem, has successfully extended its Pre-Series A funding round, raising a total of $9 million. The round saw participation from prominent VCs including Spartan Group, Gumi Cryptos Capital, HashKey Capital, Animoca Ventures, Hivemind, and Mask Network, bringing the total number of investors to 26.

Launched in 2023, Moonveil Studios operates on a zero-knowledge (ZK) based Layer 2 blockchain, providing an optimized environment for hosting Web 3 games. The new funding will enhance the ecosystem’s infrastructure, scalability, and performance, while also focusing on user acquisition and community building. Despite the positive developments, the broader market conditions remain a concern, casting a shadow over the long-term prospects of such ventures.