Uncaged Studios Raises $24M to build esports franchise

MonkeyLeague here we come…

Web3 gaming is moving at a fast pace. The gaming company unCaged Studios has recently raised $24 million from a Series A equity funding round. The partners that participated in the round were Griffin Gaming Partners, Vgames, Maverick Ventures Israel, Drive by DraftKings, and 6th Man Ventures. This newest influx of funds sees the valuation of the company now at over $150 million according to an UnCaged spokesperson.

The funds will go towards the company’s esports franchise MonkeyLeague which is scheduled to launch at the end of this year. The game recently saw funding through a $4 million token presale.

More funds will be used to develop future projects on Game OS which is the UnCaged native platform used for gaming projects. The Game OS supports those that want to enter into blockchain gaming by aiding in tokenomics , NFT integration, web2 to web3 implementation.

Blockchain gaming has seen lots of support lately by companies wishing to capitalize on the attention and interest that the platform is garnering. Last week another company- Planetarium Labs, was able to revise $32 million in series A funding led by Animoca Brands and another company- Joyride, raised $14 million in seed funding all to further their ambitions for gaming on the blockchain.

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