MonkeyBit Raised $2 Million in Seed Funding Amidst Global Ambassador Programme Launch with $MONK Token’s Release in Q3

$2M Funding & Global Ambassador Programme Launch

MonkeyBit, an on-chain social gaming platform, recently announced the successful completion of a $2 million seed funding round early this month.

This round was spearheaded by 3KBTC Capital, a Middle Eastern Web3 fund, and also saw participation from Hongyi Labs and other investors.

MonkeyBit is committed to delivering innovative and captivating interactive experiences to GameFi enthusiasts, thereby establishing a novel on-chain social entertainment ecosystem.

The successful closure of this funding round is indicative of the burgeoning interest in blockchain-based gaming platforms.

The procured funds are earmarked for the further development of decentralised social gaming platforms and the enhancement of game creator tools.

The involvement of 3KBTC Capital underscores the escalating global interest in blockchain technology and its multifaceted applications, including within the gaming industry.

The participation of Hongyi Labs and other investors reflects a collective confidence in the potential of blockchain-based gaming platforms.

Concurrently, MonkeyBit has initiated a global ambassador recruitment programme.

Ambassadors will not only be entitled to significant rewards stemming from all user activities within games and the Interstellar Pass but will also have the opportunity to contribute to the construction of the on-chain entertainment ecosystem.

They will work alongside top players and developers worldwide to foster community autonomy and reinforce transparency and fairness in community governance.

Every endeavour they undertake will yield ample rewards and growth prospects.

Within just a week of launching its global ambassador recruitment programme, MonkeyBit received over 30,000 applications, underscoring significant interest and enthusiasm for the initiative.

MonkeyBit's Global Ambassadors are pivotal to the ecological construction of the platform.

The ambassador programme includes:

- Limited Appointments: Only 21 ambassadors will be selected globally, each representing a specific region or country, underscoring their significant role in the ecosystem.

- Rigorous Selection: A stringent selection process ensures that only the most capable and passionate individuals are chosen to drive ecological development.

Interstellar Pass Programme: Empowering MonkeyBit's Ecosystem

MonkeyBit seems to be on a roll as they also launched the MonkeyBit Interstellar Pass earlier this month, which is designed to cultivate community consensus and ecological growth by offering exclusive benefits to its members.

Holders of the Interstellar Pass can enjoy a continuous stream of rewards and substantial economic advantages by advocating for games and inviting new members to the platform.

The core economic benefits include double game commission, basic rewards, referral incentives, a share in platform revenue, priority access to exclusive airdrops, and a portion of the ambassador reward fund, among others.

The Interstellar Pass not only enhances economic gains but also propels community development.

MonkeyBit's objectives through the Interstellar Pass programme include strengthening community unity, stimulating user involvement, and enabling personal value realisation.

Becoming a MonkeyBit Global Ambassador is an opportunity that offers significant personal value and financial rewards.

The Interstellar Pass programme, with its array of rewards and economic motivations, significantly advances the development of the ecosystem and user engagement.

Participants not only reap substantial economic benefits but also become deeply involved in community governance and ecological advancement, sharing in the rewards of a burgeoning on-chain entertainment ecosystem.

As a pivotal component of the MonkeyBit ecosystem, the Interstellar Pass is poised to play an increasingly vital role in the platform's future.

What is MonkeyBit?

MonkeyBit is spearheading a transformation in Web3 social gaming with a cutting-edge platform tailored for the next generation of PvP aficionados, poised to redefine the social gaming arena.

Their primary objective is to craft compelling PvP games and a prediction market that enriches the strategic depth of gameplay, bringing players together in a seamless and social gaming experience.

At MonkeyBit, players are welcomed into a gaming ecosystem where they are not mere participants but integral contributors.

As a hub for PvP interactive gaming, MonkeyBit empowers players to engage in dynamic battles, forge alliances, and influence the fate of their gaming universe.

It offers a diverse array of decentralised gaming experiences, each designed to deliver excitement, challenge, and entertainment, while also providing multiple rewards to various ecosystem participants.

Here is a summary of what MonkeyBit offers:

-Diverse Game Types: The platform features a variety of game types, from simple dual-camp battles to intricate multi-camp strategy games, each with unique mechanics and deep engagement, such as "Up&Down," "Battle Royal," and "Ape Arcade." Players can demonstrate individual prowess while engaging in team collaboration.

-Decentralised Community Governance: MonkeyBit prioritises community governance through a decentralized decision-making process, enabling players to actively participate in platform governance. Players can vote on changes to game rules, the approval of new games, and major updates, ensuring the platform's operations align with the interests and benefits of the majority of players.

-Play-to-Earn Model: Players on the MonkeyBit platform not only enjoy the entertainment value of games but also earn $MONK tokens, converting their gameplay performance and strategic acumen into tangible economic rewards. This model incentivizes active participation and rewards players for their engagement.

-A True Social Platform: MonkeyBit has established a genuine social platform where players can form alliances, strategize collectively, and partake in community governance.

-Easy-to-Play Fun Mini-Games: The platform has developed various easy-to-play, enjoyable mini-games, such as "Up&Down," a dual-camp battle game. These games are straightforward to play and do not require a significant time commitment, allowing players to quickly dive in and enjoy immediate fun and competitive experiences.

-Brand Co-Creation: MonkeyBit fosters collaboration with various brands and creators to co-create unique game content and virtual goods. This not only enhances the diversity and appeal of the games but also helps brands realize value conversion through digital goods and NFTs, pioneering a new model of cross-border marketing.

-Open and Inclusive Gaming Ecosystem: MonkeyBit is dedicated to building an open and inclusive gaming ecosystem, inviting game development teams from around the world to deploy and operate their games on the platform. This approach not only expands the game library and enriches player choices but also attracts more developers to leverage MonkeyBit's blockchain technology and token economy to create innovative game works.

-Integration of NFTs and Gaming Ecosystem: MonkeyBit issues NFTs themed around game heroes and narratives. These NFTs serve as both digital collectibles and functional in-game items. As Web3 and the crypto NFT market evolve, the platform plans to further expand its NFT ecosystem, introducing more innovative digital collectibles and interactive experiences, thereby creating a new model of cross-border marketing.

-Global and Multi-Chain Support: To cater to players globally, MonkeyBit has initially launched on the Polygon network and intends to expand to other major public chains like BSC, SOL, and more. This multi-chain strategy not only enhances the platform's scalability but also allows players to choose the network that best suits their gaming preferences.

Its whitepaper states that:

“MonkeyBit goes beyond traditional Web3 gaming platforms and is dedicated to constructing an innovative on-chain social entertainment ecosystem. With continuous multi-chain support, MonkeyBit will complete the construction of a full-chain ecosystem, providing players with an unprecedented gaming experience. MonkeyBit offers a rich selection of games and expands the PvP prediction market to meet users' dual needs for entertainment and economy, creating a comprehensive entertainment economy platform. MonkeyBit, with its multi-chain consensus and diverse value, will lead users into a new era of value creation.”

What's Next for MonkeyBit?

Users can look forward in Q3, the launch of $MONK token, the support of additional chains, as well as the listing of $MONK on major exchanges, although more details have yet to be announced.

The "Monkeys" Behind MonkeyBit

The MonkeyBit team is committed to inclusivity and broad accessibility across multiple blockchains.

Initially, they will focus on integrating with the Polygon and TON ecosystems, with plans to extend to other blockchain ecosystems as the platform grows.

MonkeyBit aims to provide its community with the best Web3 has to offer, envisioning a truly inclusive gaming platform that transcends blockchain boundaries and fosters a diverse, vibrant community of players.

However, not much details can be found of its team as well as their social media handles.

In their marketing documents, only the below three people are part of the core team despite more being listed on the website.

Peter T, CEO

A graduate of the University of Waterloo in Canada, he gained extensive experience at leading global investment banks, developing deep insights into the internet, AI, and Web3.

His research into the GameFi industry revealed a DeFi-driven consumer trend, prompting him to develop a unique decentralised PVP model.

This innovation led to the creation of MonkeyBit, marking a significant advancement in the intersection of gaming and finance.

However, on MonkeyBit's LinkedIn profile, the CEO is listed as just a "LinkedIn Member" with no more information provided.

Kelvin M, Marketing Manager

A graduate of Singapore's Nanyang Technological University, he has amassed years of experience in the foreign exchange market within traditional securities exchanges.

In 2018, he transitioned to the digital asset trading field, bringing valuable resources and insights from finance, blockchain, and other industries.

Leveraging his extensive network, he has successfully led market initiatives and managed marketing and business strategies for several top Web3 platforms.

Renowned for his versatility, he excels in marketing, business negotiations, and operational management.

Joe L, Global Advisor

A graduate of the University of California, he is an international investment professional with extensive experience and notable achievements in cross-border technology introduction, overseas mergers and acquisitions, and international investment and financing.

As a seasoned advocate of blockchain technology and its applications, he has led teams to invest in various digital asset trading platforms and GameFi projects, establishing himself as a key influencer in the sector.

Currently, he serves as a Global Advisor for MonkeyBit.

MonkeyBit's Socials

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Telegram

Discord

YouTube

LinkedIn

Is MonkeyBit Just Monkeying Around or is it a Diamond in the Rough?

MonkeyBit embraces the ethos of decentralisation and Web3 innovation, elevating traditional gaming paradigms to deliver an immersive and rewarding experience that stands apart.

It is more than just a gaming platform; it symbolises the future of PvP interactive gaming, where each player is an integral component of the ecosystem.

The successful seed funding round for MonkeyBit, led by 3KBTC Capital and joined by Hongyi Labs and other investors, signals a bright future for blockchain-based social gaming platforms.

Furthermore, MonkeyBit has forged extensive ecosystem partnerships with various organisations, including ABCDE Capital, Polygon, OKX, Bitget, Bitlayer, AlienX, Tabi, Foresight Ventures, ABGA Eco Fund, TON Ventures, KINE, and Degame, swiftly expanding the boundaries of its ecosystem.

However, it is important to note that MonkeyBit is still in its early stages, and its whitepaper may not provide sufficient information.

The anonymity of the team also introduces a level of ambiguity that could be perceived as a risk.

Despite these factors, Coinlive remains cautiously optimistic about the potential of MonkeyBit, given its nascent stage and the anticipation of its future developments.