Moongate, a leading innovator in the Web3 space, has recently announced the successful closure of its $2.7 million seed funding round. This significant investment will fuel the development of Moongate’s modular Web3 engagement layer, aimed at transforming real-world applications across various industries.
With a proven track record of disrupting the ticketing industry, Moongate is now set to expand its presence into other sectors by leveraging blockchain and AI technology.
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.
Additionally, Moongate received ecosystem grants and support from leading platforms such as Arbitrum, Polygon, Avalanche, and BNB Chain.
Jonathan Mui, Founder and CEO of Moongate, expressed his excitement for the investor support, stating, “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.”
Shiau Sin Yen, Co-founder and Managing Partner of CMCC Global’s Titan Fund, affirmed Moongate’s potential, stating, “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 are excited to support the team as they bring Web3 to the next few hundred million people.”
Moongate has made impressive progress with its main product, a decentralized ticketing and membership platform. This innovative platform converts physical assets and experiences into secure digital tokens on the blockchain, enabling brands to establish direct and verified connections with their fans. This leads to stronger relationships and exciting opportunities for customized experiences, exclusive content, and loyalty programs.
The company boasts an active user base of over 100,000 individuals, and its solution has been implemented by major enterprise customers, including 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 an annual revenue exceeding $1.5 billion.
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. The company recently launched the #MoonFarmer campaign, aimed at showcasing the potential of its Web3 engagement layer and facilitating user engagement.
This initiative introduces a unique rewards system that incentivizes users and creators for their participation on the platform, fostering creativity, ownership, and community participation on-chain.
With the support of investors and the success of its flagship product, Moongate is well-positioned to revolutionize the way brands and consumers interact in the digital age. The company remains dedicated to driving meaningful Web3 adoption across industries and plans to issue its own token this year.
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