Los Angeles-based Midnight, a new Web3 gaming company, has announced that it has secured $7.5 million in seed funding. The round was led by Shima Capital, with prominent blockchain gaming investors including Forte, Snackclub, Overwolf, the founders of Illuvium, and investors Woodstock Fund, FJ Labs, Bixin Ventures, and more also participating.
Midnight was launched in 2021 with the mission to revolutionize player-first gaming. The company is led by CEO Steve Wade, who has extensive experience in publishing and developing video games. He has launched 45 online games, four gaming payment solutions, and eight-game portals.
Joining Wade was former Soundcloud CTO, Steven Spagnolo, who has 30 years of experience in the games industry. He has been CEO or CTO of two bootstrapped studios that became successful companies. These exits occurred across the web, mobile, consoles, and PC. Prior to Soundcloud, Spagnolo was senior director of technology for King–a mobile gaming company. He is also the founder of Blue Tongue Entertainment (which was acquired by THQ) and Twitch (which was acquired by Amazon).
Midnight is aiming to create a gaming industry where players are in control and at the center of their gaming experience. The company’s first game is set for release later this year, with more exciting content planned for the future. With its seed funding raised, Midnight will continue innovating to push the boundaries of Web3 gaming and create a fairer, more player-friendly future.
The Los Angeles startup scene is heating up with Midnight joining the roster. With its new funding and experienced team, Midnight can make a powerful impact on the industry as it strives to revolutionize player-first gaming.