Midnight

What Midnight does

Midnight (legal entity Midnight Evergreen Inc.) is a privately held Web3 gaming company that operates Evergreen, a deconstructed, composable MMO publishing platform. Rather than building a single monolithic MMO, Evergreen links multiple AA PC games across genres within a shared universe, providing cross-game progression, a shared loyalty system, and interconnected player economies. The company serves two customer segments: third-party AA game studios (which it onboards, supports through development, and publishes on the Evergreen network) and PC gamers (who participate in the cross-game progression and shared loyalty features).

The underlying technology centers on the Evergreen Interoperability System, a proprietary architecture that enables cross-game progression and shared loyalty mechanics, paired with blockchain-enabled economic layers and planned NFT integration. The company operates as a developer-focused publisher rather than a traditional first-party studio, identifying target game categories, selecting projects for support, and managing promotion and launch. Its revenue model combines one-time publishing/license arrangements from third-party studios with potential recurring monetization from cross-game loyalty and retention features, though specific pricing or revenue figures are not publicly disclosed.

Midnight was founded in 2021 and emerged from stealth in November 2022 with a $7.5 million seed round led by Shima Capital, with participation from Bixin Ventures, FJ Labs, Forte, Overwolf, Snackclub, and Woodstock Fund. The company is led by founder and CEO Steven Wade alongside a remote-first team that includes former executives from NBCUniversal, Disney, and SoundCloud. Its corporate base is registered in Nevada (Las Vegas mailing address), it maintains between 1 and 10 employees, and it is actively hiring senior publishing and creative roles to scale its Evergreen portfolio.

Name

Midnight

Legal name

Midnight Evergreen Inc.

Website

https://midnight.io

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Midnight (Midnight Evergreen Inc.) operates Evergreen, a deconstructed, composable MMO publishing platform that links multiple AA PC games via shared cross-game progression and loyalty systems, serving third-party game studios and PC gamers.

Ownership category

akta.pro rank

Product category

Web3 Gaming Platform

NAICS

Software Publishers (5132), Software Publishers (513210)

SIC

Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

PC & Console Game Distribution Platforms (BPAMAKAA)

akta.pro secondary industries

Game Server Hosting & Community Infrastructure (private servers, matchmaking communities) (MPAFAIAF), Gaming Social Networks & Community Platforms (profiles, guilds, forums, discovery) (MPAFAIAD)

Keywords

• Web3 gaming platform
• Game publishing services
• Cross-game progression
• Decentralized MMO
• Blockchain game network

Headquarters

HQ city

Dover

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Game Publishing: Revenue generated from publishing AA PC games through the Evergreen network, supporting third-party studios and retaining/publishing their games on the Midnight platform with cross-game loyalty features.
2. Cross-Game Loyalty and Retention: Monetization through shared loyalty systems that span multiple games, creating network effects and long-term player engagement across the platform.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Midnight publishes and operates Evergreen, a deconstructed, composable MMO publishing platform that connects multiple AA PC games through shared loyalty systems and cross-game progression. The platform supports third-party game studios with publishing infrastructure, network access, and shared player economies, while delivering PC gamers an interconnected, persistent experience spanning multiple game genres.

Product overview

Midnight (Midnight Evergreen Technologies Inc.) offers a single unified product platform called Evergreen. Evergreen is a deconstructed, composable MMO publishing platform that links multiple games across different genres within a shared universe. The platform provides cross-game interactivity, shared loyalty systems, game retention features, and supports third-party studio partnerships. It is designed to deliver an arcade of linked games with the reach, engagement, and monetization of a traditional MMO, supporting PC game distribution across the Midnight Network.

Differentiator

Problem solved

Functional benefit

Brands

• Evergreen: The first publishing platform that operates as a deconstructed, composable MMO, delivering an immersive and persistent experience to players across games of all types and genres.

Products and services

• Evergreen Evergreen is a deconstructed, composable MMO publishing platform that links multiple AA PC games across genres within a shared universe, providing cross-game progression, shared loyalty systems, persistent player identity, and shared economies. It is offered to third-party studios as publishing infrastructure and to PC gamers as an interconnected gaming network.

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Overwolf: Overwolf is an established gaming platform that provides in-game apps, mods, and creator tools for PC games. It is a direct strategic investor in Midnight and operates an overlapping layer of cross-game community and tooling infrastructure, making it the closest incumbent comparable.
• Roblox: Roblox is the dominant user-generated gaming platform with persistent player identity, cross-experience progression, and a creator economy. While much larger and broader in scope, it represents the scaled proof point that interconnected-game ecosystems can capture massive engagement — relevant comparable for Evergreen's long-term ceiling.
• Steam (Valve): Steam is the dominant PC game distribution platform with community features, achievements, and trading-card-based loyalty mechanics. It is the incumbent Midnight must compete against for AA PC game distribution and player loyalty engagement.

Direct peers

• Forte: Forte is a Web3 gaming infrastructure platform that provides blockchain-based tools (wallets, token economies, compliance) for game publishers. Like Midnight, Forte targets third-party studios building interoperable, tokenized game experiences and is both an investor and a direct peer in the Web3 publishing category.
• Immutable: Immutable provides a blockchain gaming platform focused on NFT-based game economies and developer tooling. It targets similar third-party studios seeking interoperable Web3 player assets and is a leading direct competitor in the Web3 game publishing infrastructure space.
• Mythical Games: Mythical Games operates a Web3 gaming platform (Mythical Chain) supporting playable NFT games with player-owned economies. It targets publishers and studios building interoperable blockchain-based game experiences, comparable to Midnight's Evergreen thesis around shared, persistent cross-game economies.
• Gala Games: Gala Games is a Web3 gaming publisher and platform that operates multiple interconnected games with shared node-network and token economies. Its portfolio approach across multiple game titles parallels Evergreen's deconstructed-MMO publishing thesis.
• Improbable: Improbable provides MMO-scale backend technology (SpatialOS) enabling large persistent virtual worlds. It is comparable to Evergreen as a technology platform enabling ambitious multi-game, multi-player persistent experiences for third-party studios.

Emerging players

• Snackclub: Snackclub is a Web3-native gaming community and investment platform. As a Midnight investor and ecosystem peer, it operates in adjacent Web3-gaming community and tooling layers relevant to player acquisition and engagement for the Evergreen network.
• Manticore Games (Core): Core by Manticore Games is a UGC gaming platform where creators build and share interconnected game experiences. It overlaps with Evergreen's thesis of linked, interoperable game experiences with persistent player progression across multiple titles.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks1 record

Key highlights6 records

Customer concentration

• Xx.com/midnightforged
• LinkedInlinkedin.com/company/midnight-evergreen
• Instagraminstagram.com/playevergreen_

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Midnight