Research Report｜Moonveil Project Overview & $MORE Token Valuation

I. Project Introduction

Moonveil is a ZK Layer2 public blockchain purpose-built for gaming, constructed on Polygon CDK with a zkEVM architecture and using Ethereum as its settlement layer—offering clear security and scalability advantages. The project was initiated by a team of former senior Riot Games executives, and core members hail from NetEase, Funplus, CARV, and other top gaming and tools platforms. The team has in-depth experience in the development and operation of titles such as League of Legends, Minecraft, and EVE Online, giving them a holistic understanding of the entire game lifecycle.

Unlike traditional Web3 gaming chains that offer “chains but no games,” Moonveil has chosen to bootstrap its ecosystem with self-developed content, launching four titles: AstrArk, Bushwhack, Flaming Pets, and Mini 2048, with more lightweight games planned for Telegram and third-party developers. This strategy—“product first, chain as support”—not only boosts user engagement but creates real cross-game asset and identity interoperability, enabling true asset liquidity.

Moonveil’s standout feature is its interoperability design. All games on-chain share user identity (Game DID), NFT assets, items, and liquidity. Even if a legacy game’s lifecycle ends, players’ assets can be reused across other games—breaking the “game death = asset zero” curse of traditional Web3 games. In addition, blockchain abstraction allows Web2 logins and gasless payments for a seamless onboarding experience, lowering the barrier for Web2 users and bringing in real growth.

$MORE is the one and only native token in the Moonveil ecosystem, serving multiple purposes: governance, gas, transactions, content subscription, in-game powerups, dev tool access, and more. Longer term, $MORE will also be used for developer services, permission unlocking, cross-game asset transfer, and ecosystem proposal voting, making it central to both governance and growth.

The project has raised $9 million from leading investors, including Animoca, Hashkey, IOSG, Gumi, and Puzzle Ventures, and is supported by a direct node investment and strategic backing from Polygon Labs. With a high and rising density of on-chain content and progressive Game DID adoption, Moonveil is positioned to become the flagship gaming infrastructure project on Polygon CDK.

II. Project Highlights

1. Game-Native Team & Self-Built Content for Ecosystem Bootstrap
Moonveil’s team brings extensive AAA game dev expertise, with backgrounds in titles like League of Legends, Valorant, Minecraft, and EVE Online. Instead of focusing solely on infrastructure like most GameChains, Moonveil prioritized “content-first” bootstrapping, launching four in-house games (AstrArk, Bushwhack, Flaming Pets, Mini2048) covering RPG, SLG, and casual genres—securing both core and mainstream users and building a real, active ecosystem.

2. Cross-Game Asset and Identity Interoperability
Moonveil treats identity and assets as the ecosystem’s connective tissue, creating a native Game DID system that unifies wallet addresses, game histories, NFT holdings, and social accounts. User behavior is recorded via badges and SBTs, enabling high-quality player profiling and allowing time/value spent in one game to be ported to another. Future features include cross-game migration of NFT equipment and account status inheritance—key to Moonveil’s competitive moat.

3. Highly Modular Technical Architecture
Moonveil leverages Polygon CDK and zkEVM to offer Ethereum-grade settlement security with modularity for performance and flexible development. Data availability solutions drive higher TPS; blockchain abstraction allows users to log in with email or Twitter and play gas-free, massively easing Web2 onboarding and paving the way for international expansion.

4. Integrated Dev Tools & AI Support
Beyond chain and content, Moonveil is building a full suite of on-chain game dev tools: AI-enhanced art generators, level editors, logic engines, etc.—accessible to indie developers and small studios. Combined with the Builder Sandbox and testnet, teams can launch demos or full games at low cost. Access to these services is token-gated with $MORE, creating a content production flywheel.

5. Polygon Official Backing & Top-Tier VC Investment
Moonveil is the only gaming project on Polygon CDK to receive a direct node investment—$2 million—from Polygon Labs, which also provides prioritized technical and ecosystem support. The $9 million in total funding includes leading crypto VCs like Animoca Brands, Hashkey Capital, IOSG Ventures, Gumi Cryptos, and Puzzle Ventures, alongside ecosystem partners like Magic Eden, GuildFi, and Mask Network. This signals strong strategic alignment and network effect.

6. Rich Token Utility; Holistic Ecosystem Loop
$MORE is the sole ecosystem token and far surpasses “gold token” GameFi logic. Beyond gas, transactions, and NFT purchases, $MORE unlocks game powerups, content subscriptions, identity tiers, governance, staking/voting, and dev resource access—covering nearly the full user lifecycle. Its long-term value will track the growth of the Moonveil ecosystem, not any single game’s cyclical hype.

III. Valuation Outlook

As Moonveil’s ecosystem token, $MORE supports asset liquidity, content subscriptions, identity management, governance, and dev tool access—anchoring its value in ecosystem breadth and user stickiness. Unlike tokens tied to a single GameFi hit, $MORE benefits from Moonveil’s integrated chain-tools-content model with Polygon CDK backing, giving it unique compounded growth potential.

Total supply: 1 billion. Market price and circulating cap currently undisclosed. By comparison, game-focused chains like Beam (game assets), XAI (L3 gaming), and Sonic (Solana game infra) have FDVs from $50 million up to $2 billion, with most well-supported early-stage projects at $100–$500 million+, and blue-chip stories (e.g., Sonic) sometimes exceeding $1 billion. Provided $MORE achieves real, high-reuse on-chain gaming use cases, significant upside potential exists.

IV. Tokenomics

Supply:
Total: 1,000,000,000 $MORE

Allocation:

• Private Investors: 21.56% — 2.5% unlock at TGE, 9-month cliff, linear vest over 30 months
• Liquidity & Marketing: 5% — 100% unlocked at TGE
• Team: 14.94% — fully locked at TGE, 12-month cliff, then linear vest over 36 months
• Airdrop: 6% — 100% unlocked at TGE for community/exchange airdrops
• Advisors: 3.5% — locked at TGE, 12-month cliff, linear vest over 36 months
• Ecosystem: 29% — 5% unlocked at TGE, rest linear vest over 48 months
• Node Owners: 20% — 25% unlocked at TGE, rest linear vest over 36 months

Token Utility:
Core Functions

• Transactional Medium: In-game and platform asset exchange, cross-platform circulation.
• Staking & Governance: Users stake to participate in governance, feature proposals, and community planning.
• Gameplay Access: Unlock special features, join events, access premium content.
• Identity & Access: Tie $MORE to identity NFT for early access, real/virtual event privileges.

Future Extensions

• Virtual Land & Asset Trading: Trade land/assets/content across Moonveil games.
• Content Creation & Monetization: Incentivize creators to produce content/mods with $MORE as the pricing unit.
• Subscription Services: Pay $MORE for advanced features or members-only areas.
• Game-Dev-as-a-Service: Use $MORE to access dev toolkits, cloud services, testing/deployment.
• Governance Asset: $MORE holders vote on ecosystem fund usage, parameter changes, and partner onboarding.

V. Team & Funding

Team:
Moonveil’s global team brings deep AAA game and Web3 experience, with senior backgrounds at Riot Games, NetEase, Funplus, Roblox, CARV, and more—across PC, mobile and Web3 games.

• CEO & Co-founder: MJ Wong, former Riot Games senior executive, with 10+ years’ hands-on development, ops, and publishing experience.
• Nearly all team members have both deep product and management experience, with “dual narrative integration”—strong in both classic Web2 gaming and Web3 technical/protocol building.

Funding:
Moonveil has raised $9M from top Web3 and gaming VCs:

• Crypto VCs: Animoca Brands, Hashkey Capital, IOSG Ventures, Gumi Cryptos, Puzzle Ventures
• Gaming/Social Ecosystem: Magic Eden, GuildFi, Mask Network
• Infra Partner: Polygon Labs ($2M via node investment)

Polygon Labs regards Moonveil as a flagship Polygon CDK gaming chain, vowing multi-dimensional resource, technical, and ecosystem support.

Moonveil demonstrates deep talent and structural advantages in the new wave of GameFi infra projects, standing out for both execution and investor backing.

VI. Potential Risks

1. The Web3 gaming industry has yet to produce breakout blockbuster hits and is generally still in a “tech validation & user education” phase. If the overall GameFi market loses momentum, ecosystem activity and $MORE usage rates could suffer, impacting secondary market price.
2. As the exclusive ecosystem token, $MORE assumes multiple roles. Its complete emission, unlock and burn mechanisms haven’t been fully disclosed yet. If token issuance outpaces organic utility or ecosystem growth, early investor profit-taking could create downward pressure.

VII. Official Links

• Website: https://moonveil.gg/
• Twitter: https://x.com/Moonveil_Studio
• Telegram: https://t.me/+YQU_ahvjN4U3ZWEx