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UnCaged Studios, the developers of MonkeyLeague, announced that they have successfully closed a Series A funding round. With the help of Griffin Gaming Partners, Vgames and several others, the studios raised $24 million in capital. Raising funds in today’s market can be a challenge, but it was a challenge UnCaged was ready for.
“Raising a major round in this market environment has definitely become more difficult, and our success is a clear testament to the skill and execution of our team,” UnCaged CPO Raz Friedman said in a press release. “We will use this funding well to drive the next wave of adoption by game developers and users.”
The funds raised during this round will be used to continue the development of MonkeyLeague and Game OS. MonkeyLeague is a Web3-based esports game that leverages NFT resources to give players ownership of their team. UnCaged’s other property, Game OS, is an end-to-end platform to help Web3 and Web2 development houses get into crypto.
“Griffin Gaming Partners is thrilled to support UnCaged, which has assembled one of the most capable teams in the industry,” said Nick Tuosto, Managing Director of Griffin Gaming Partners and LionTree. “We believe that new in-game digital ownership models have the potential to support sustainable player engagement and balanced digital economies, but it will take incredibly talented and experienced teams to unlock the potential of blockchain games.”
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