Moonveil Shuts Down After GameFi Market Breaks

Moonveil will gradually shut down operations in the coming weeks after four years in Web3 gaming, citing weak GameFi funding, limited partnership options and a hard market for gaming startups.

Good to Know

• Moonveil plans a phased shutdown, but no final closure date has been given.
• AstrArk reached more than 2 million unique active wallets and 48,000 PvP battles.
• $MORE token holders and node operators are still waiting for fuller wind-down details.

Moonveil confirmed the decision in a statement to its community, saying continued fundraising talks and partnership searches failed to produce a workable path.

Moonveil said:

“Today, after a great deal of consideration, we are announcing the decision to wind down Moonveil and gradually discontinue project operations over the coming weeks.”

The company framed the closure around market conditions rather than internal problems. Investment in GameFi, blockchain gaming and wider gaming startups has cooled over the past two years, leaving smaller studios with fewer routes to raise capital or scale products.

AstrArk Bushwhack And $MORE Now Face A Slow Exit

Moonveil built more than one game before deciding to close. AstrArk, its main title, launched in February 2025 and reached more than 2 million unique active wallets. The game also recorded more than 48,000 PvP battles.

Bushwhack followed later as a stealth battle royale project, with an early playtest in October 2025. Moonveil also created a Mini Games Hub and Moonveil Punch, a publishing effort designed to bring more third-party developers into its gaming ecosystem.

The studio also worked on infrastructure. It developed a ZK-based Layer 2 chain using Polygon CDK, with a goal of connecting gaming identities and player rewards across different titles.

Funding had once looked healthier. Moonveil raised $5.4 million in 2023, then secured a $9 million Pre-Series A round and another $5 million for ecosystem growth. The $MORE token also reached exchanges including KuCoin and Bitget.

However, the studio now plans to wind down community activity, services, the website and social media channels over time. It said project inquiries will still be handled, though replies may slow during the shutdown process.

Moonveil has not yet released detailed arrangements for $MORE token holders or node operators. Those details will be key for users tied to the project through tokens, nodes or game activity.