Moongate Raises $2.7M Seed Round to Develop a Modular Web3 Engagement Layer for Real-World Activations
- Chain
- April 2, 2024
- Press release
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Hong Kong, Hong Kong, April 2nd, 2024, Chainwire
Moongate announces the closing of a $2.7M Seed round to develop a Modular Web3 Engagement Layer for Real-World Activations. Backed by its success in disrupting the ticketing industry, the company aims to expand its reach into other sectors to transform interactive experiences using blockchain and AI.
The funding round was led by CMCC Global’s Titan Fund, with participation from Token Bay Capital, Penrose Ventures, RNR Capital, Cogitent Ventures, GBV Capital, PHD Capital, and notable angel investors from Coingecko, Synthetix, and Dolphin Browser. The team also received ecosystem grants and support from Arbitrum, Polygon, Avalanche, and BNB Chain.
“We are thrilled to have the backing of our investors as we continue to build out our modular Web3 engagement layer. This funding will accelerate our product development and further our mission of driving meaningful Web3 adoption across various industries,” said Jonathan Mui, Founder and CEO of Moongate, expressing his excitement for the investor support.
Shiau Sin Yen, Co-founder and Managing Partner of CMCC Global’s Titan Fund, affirmed Moongate’s potential: “Moongate is at the forefront of driving real-world adoption of Web3 technologies. Their approach to creating a modular Web3 engagement layer will unlock significant value for brands and consumers. The founders’ drive and commitment, along with their achievements in the ticketing industry, illustrate their potential. We’re excited to support the team as they bring Web3 to the next few hundred million people.”
Over 100,000 Active Users for Flagship Decentralized Ticketing and Membership Platform
Moongate has already made significant strides with its flagship product, a decentralized ticketing and membership platform. By transforming real-world assets and experiences into immutable digital tokens on the blockchain, it allows brands to establish direct, authenticated channels with their fans, fostering deeper relationships and unlocking opportunities for personalized experiences, exclusive content, and loyalty programs.
The company boasts an active user base exceeding 100,000 individuals, with major enterprise customers successfully implementing the solution. Notable clients include Wonderfruit, one of Southeast Asia’s largest music festivals, ComplexCon, a globally renowned cultural conference by Complex, and Siam Piwat, a major conglomerate in Thailand with over $1.5 billion in annual revenue. Moongate has also secured long-term service contracts with leading Web3 platforms, including Binance and Avalanche, as well as with major regional crypto conferences across more than 30 countries. Building upon its success, Moongate plans to introduce new feature sets to disrupt adjacent industry segments.
Experience Web3 Engagement through the #MoonFarmer Campaign
To showcase the potential of its Web3 engagement layer, Moongate has unveiled the #MoonFarmer campaign. This initiative is designed to incentivize users and creators by rewarding them with points for engaging in various tasks on the platform, fostering creativity, ownership, and community participation on-chain.
The company is committed to providing the utility and connectivity required for the next generation of Web3 experiences. The highly anticipated early access to the private beta is scheduled to roll out this week, leading up to the public launch. Further details about the campaign can be found in the linked post.
As Moongate continues to innovate and expand its offerings, the company remains dedicated to its mission of driving meaningful Web3 adoption across various industries. With the support of its investors and the success of its flagship product, Moongate is well-positioned to revolutionize the way brands and consumers interact in the digital age.
For media enquiries, users can contact:
Jonathan Mui: [email protected]
About Moongate
Moongate is building a Modular Web3 Engagement Layer for Real-World Activations, abstracting the complexity of blockchain to record real-world experiences on-chain. This allows users to create a ‘phygital’ passport to unlock various rewards, access, and communities tied to their omni-channel profiles. The company’s flagship product, a decentralized ticketing platform, has already demonstrated significant traction, with an active user base of more than 100,000 individuals and successful partnerships with major enterprises such as Binance, Avalanche, Wonderfruit, ItsTheShip, Token2049, Siam Piwat, and many more across 30+ countries. Backed by its success, Moongate aims to expand its reach into other sectors to transform interactive experiences using blockchain and AI technologies.
To learn more users can visit Moongate’s Official Website | Twitter | LinkedIn
About Titan Fund
Titan Fund offers accredited investors exposure to attractive growth opportunities within the blockchain ecosystem through a traditional equity venture capital investment strategy focusing on seed to series A companies along the key investment verticals of Infrastructure, Fintech and Consumer. The Titan Fund is CMCC Global’s latest fund strategy and complements its Digital Asset Funds, which have been investing directly into protocols and crypto assets since 2016, and its SYZCrest fund of funds that invests into crypto quant funds.
To learn more users can visit Titan Fund Official Website
Contact
CEO
Jonathan Mui
Moongate
[email protected]
