Quick take:
Launched in March 2024, the platform claims to have already amassed a betting volume of over $200 million.
The company plans to use a large amount of the new funding in advertising and marketing.
The company is also looking to establish a tech team to build out its platform, according to an announcement on Thursday.
Monkey Tilt, an online gaming platform that combines elements of entertainment and gambling to create socialised gaming experiences has raised $30 million in a Series A round led by Pantera Capital.
Moneky Tilt is led by a Las Vegas native and former MGM Resorts and Caesars employee, Sam Kiki, who wants to use his experience to take on the biggest players in the online gambling industry.
Kiki’s new venture also looks to go beyond social gaming as he plans to leverage his experience in the crypto industry to integrate a crypto infrastructure within the next few weeks.
Following his early career in the gaming industry, Kiki pivoted to crypto, helping build Manifold Trading, “an innovative crypto start-up focused on quantitative, high-frequency trading and arbitrage.”
The gaming veteran turned perennial entrepreneur sees Monkey Tilt as an entertainment company as it is an online casino and plans to partner with celebrities and influencers to create content that helps drive users to his platform.
Unlike other online casino platforms that tapped the popularity of celebrities and influencers to drive traffic to their platforms, Kiki said his company wants to go a step further and build its brand around partnerships.
“We’re going to partner with all the dopest streamers, the cultural icons, the coolest brands but on top of that, we need to make content with them,” Kiki told Fortune.
As part of creating a social gaming environment, Monkey Tilt has already created a chat function that allows users to communicate with each other while they gamble. They can also use the platform to donate a portion of their winnings to other users.
“We’re very big on the integration of lots of social features. I think the gaming platform of the future looks much more socially immersive than the gaming platforms of the past,” Kiki said.
Barely eight months after launch, Monkey Tilt claims to have already amassed a betting volume of over $200 million. The platform currently offers sports betting and casino games including blackjack, roulette and slots.
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The post Social Gaming Platform Monkey Tilt Secures $30M Series A Round Led By Pantera Capital appeared first on NFTgators .