【Moongate】Modular web3 engagement layer / Centralized management of NFT tickets and NFT memberships / Over 100,000 MAUs / Completed $2.7M in funding / @Moongate
Help brands build seamless loyalty programs that combine real and online
Good morning.
This is mitsui from web3researcher.
Today I researched "Moongate".
🌕Overview｜What is Moongate?
📈Transition｜Adopted by major conferences, 100,000 active users in about a year
✨Prospects｜Completed $2.7M in funding, to issue tokens
💬Thoughts｜Strength to attack niche and expand laterally
🌕Overview｜What is Moongate?
Moongate is modular web3 engagement layer for real-world actionsa.
NFT Ticket Services and Membership Loyalty Programs with No Code to help brands build a seamless loyalty program that combines real and online.
Let's take a look at the detailed features.
(1) NFT Ticket
NFT tickets can be created. Both paid and free tickets are possible, and both credit cards and crypto assets can be selected for payment. Data analysis of these data is also possible, and the system can be integrated with other platforms and services to create a gamefication-like lottery and sales method.
(2) NFT Membership
NFT memberships can be created to build a loyalty program. Memberships can be sold on a tiered basis, each of which can be sold for free or for a fee.
(3) Created by NFT Collectibles
You can create unique NFT collectibles. It can be used as a reward for loyalty programs, as a POAP-like use for events, or as an airdrop.
(iv) Creation of rewards and token gates
You can create token gate rewards by freely combining NFT information such as NFT tickets, NFT memberships, and distributed NFT collectibles. Rewards can be targeted not only to token gates, but also to email addresses and other whitelists.
(5) Analysis of customer data
Information on all events and NFT memberships is centralized in a dashboard, where both overall and client-specific information can be viewed.
You can also choose from Arbitrum, BNB Chain, Polygon, and Avalanche for the NFT infrastructure on which you can issue NFT tickets, etc.
📈Transition｜Adopted by major conferences, 100,000 active users in about a year
Moongate is a Hong Kong-based startup founded in 2022. Since its inception, Moongate has developed the same product as it does today, and has gradually been adopted by many conferences and steadily increased its user base.
One of the events that triggered this leap forward was Taipei Blockchain Week, one of the largest cryptocurrency-themed conferences in Taiwan. Moongate was the ticket partner and NFT tickets were used.
Anyone could purchase tickets through a simplified onboarding process that allowed attendees to easily create a wallet using their social networking accounts. A single QR code also represented NFT tickets for all events, from the main conference to side events, streamlining the entry process.
As a result, the event attracted more than 2,000 attendees to the main conference and another 3,000 to the side events. The integrated ticketing system allowed attendees to easily move between the different event segments, making the event a huge success.
From there, it has been used by Wonderfruit, one of Southeast Asia's largest music festivals; ComplexCon, a world-renowned cultural conference by Complex; Siam Piwat, a leading conglomerate in Thailand with over $1.5 billion in annual revenue; and We have secured long-term service agreements with major web3 platforms including Binance, Avalanche and Token2049, as well as major regional virtual currency conferences in over 30 countries.
As a result, there are now more than 100,000 active users.
✨ProspectsCompleted $2.7 million in funding, to issue tokens
Such "Moongate" completed a seed round of $2.7 million in April 2024. The funding round was led by CMCC Global's Titan Fund and included participation from Token Bay Capital, Penrose Ventures, RNR Capital, Cogitent Ventures, GBV Capital, PHD Capital, and Coingecko Synthetix, and Dolphin Browser. In addition, ecosystem grants and support were received from Arbitrum, Polygon, Avalanche, and BNB Chain.
They will use the funds to further expand their product line.
And one of the new reward systems, called "MoonFarmer," was announced.
This is how you earn points through daily interactions and fun social activities such as signing up, completing tasks, attending conferences, referring friends, promoting events, etc., and earn more tokens based on the number of points you earn.
In other words, this is a points program prior to the sale of the "Moongate" token. At the time of full release, NFTs that increase the percentage of points earned will also be sold, and currently only registration on the waiting list is possible.
💬 Consideration｜Strength to attack a niche and expand horizontally
My personal greatness of "Moongate" is that it is entering the market from a ticket and adding functions to be completed within one platform.
The ticketing market is not a ridiculously large market, but it is a large market out there, and it is a market that is expected to grow at a certain rate because events are not going away. And it is quite difficult to change that ticketing base, especially when it comes to large events, so it is often a sales game, even though it is a platform business.
This may seem like an inefficient battle to the borderless, global-minded person in web3, but on the contrary, this is an area where results can accumulate if you work steadily.
I felt it was a quintessential example of how they entered the market from there and properly expanded by holding down large conferences and events.
And, starting with NFT tickets, we are adding a series of features that may be needed at a series of touch points around the axis of "building loyalty with participants".
Currently, we have the ability to create NFTs with no code and the ability to create membership NFTs, but I suspect that we will probably add more features along the same axis and envision a future where everything is completed on a single platform.
One of these is "MoonFarmer" as explained above. This is announced as a point program before the "Moongate" token distribution, but we believe that similar functions will be implemented in the platform after this, with "Moongate" as the first step. point distribution based on actions such as social networking and Loyalty mechanisms are rather popular and are essential for products in the loyalty area.
NFTs and FTs are supposed to be interoperable, but crossing platforms is quite stressful.Being possible is not the same as being comfortable.
It is costly for project operators to research and master the various platforms, and from the user's point of view, it is complicated and hard to understand the different platforms for each experience. The result is a poor UX, which is not good for the project.
So we believe that all-in-one platforms will increase in the future.
However, the all-in-one platform is a concept that everyone thinks about at one time or another, but many projects end up halfway through. What is important is the initial entry market. As "Moongate" entered the market through NFT tickets, we prefer an area that has a certain market size but is a bit niche, and that costs a lot to expand but steadily builds up.
We believe that the concept of an all-in-one platform will be realized by horizontally expanding functions after gaining a certain market share there. This area is a matter of management strategy, but it can never be realized without awareness of this.
However, the essence of "Moongate" is not to create something new, but to create something that will be used, which is not the end of creation, but the beginning of use.
This is the research for "Moongate".
"Reference/Image credit:HP / X / DOC / Medium".
Disclaimer：I carefully examine and write the information that I research, but since it is personally operated and there are many parts with English sources, there may be some paraphrasing or incorrect information. Please understand. Also, there may be introductions of Dapps, NFTs, and tokens in the articles, but there is absolutely no solicitation purpose. Please purchase and use them at your own risk.
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Author
mitsui
A web3 researcher. Operating the newsletter "web3 Research" delivered in five languages around the world.
Contact
The author is a web3 researcher based in Japan. If you have a project that is interested in expanding to Japan, please contact the following:
Telegram：@mitsui0x
*Please note that this newsletter translates articles that are originally in Japanese. There may be translation mistakes such as mistranslations or paraphrasing, so please understand in advance.