Animoca Brands Raises $20M for its Mocaverse Project

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Hong Kong-based Animoca Brands has raised an impressive $20 million through the issuance of new ordinary shares for its project, Mocaverse. 

CMCC Leads Animoca’s Funding Round

The funding round was led by CMCC Global and featured participation from a distinguished group of investors, including Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (founder of Sky Mavis), Gabby Dizon (founder of Yield Guild Games), and institutional investors of Koda Capital. 

Animoca’s co-founder and CEO, Yat Siu, also joined the round, underlining his commitment to the company’s vision. This funding round comes only shortly after Siu denied an allegation that the company is lowering Metaverse investment by 20% ($200 million).

Animoca Brands and Mocaverse Vision

The project, which made its debut in December 2022, introduced an intriguing collection of 8,888 Non-Fungible Tokens (NFTs) named Mocas, categorized into five tribes. These unique NFTs serve as the cornerstone of Mocaverse, promising innovative and immersive experiences within the metaverse.

Animoca’s vision for Mocaverse goes beyond just another metaverse project. It sees Mocaverse as the identity and point system for the emerging world of Web3 gaming, culture, and entertainment. The project aims to provide a seamless and interconnected ecosystem that brings together gamers, creators, and fans in a Web3-native environment.

Mocaverse also aims to serve as a universal point system that rewards user engagement and contributions across Web3 gaming, culture, and entertainment. Gamers and content creators will be able to earn tokens and other digital assets that hold real-world value for their participation and contributions.

Investors to Receive Free Utility Token

The recent funding round for Animoca’s Mocaverse project has brought even more exciting developments to the forefront. In addition to the $20 million raised, Animoca has granted investors a “free-attaching utility token warrant on a 1:1 dollar basis.” 

This strategic move not only strengthens the project’s financial foundation but also provides investors with a unique stake in the future of Mocaverse.

Another exciting development on the horizon is the launch of Moca ID, a non-transferable NFT that will enable users to establish on-chain identities within the Mocaverse ecosystem.

Moca ID is designed with interoperability in mind, allowing third-party adoption and integration into various Web3 applications. This groundbreaking feature has the potential to redefine how users perceive and manage digital identities in the metaverse.

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