Animoca Brands secures $20 million investment for Mocaverse Web3 project

Animoca Brands secures $20 million investment for Mocaverse Web3 project

Hong Kong-based open metaverse company, Animoca Brands, has successfully raised $20 million in a funding round led by CMCC Global. The company issued new ordinary shares at A$4.50 (~$2.87) per share granting investors a free-attaching utility token on a 1:1 dollar basis.

Other participants in the round included Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (founder of Sky Mavis), Gabby Dizon (founder of Yield Guild Games), institutional investors of Koda Capital, and Animoca Brands’s Executive Chairman and Co-Founder, Yat Siu.

This fresh capital injection is earmarked to propel the development of Animoca Brands’s Mocaverse project. This initiative encompasses various aspects, such as product development, the promotion of Web3 technology adoption, and the establishment of strategic partnerships to broaden its gaming, cultural, and entertainment portfolio.

Mocaverse: Empowering the Web3 ecosystem

Mocaverse is a project focused on building Web3-native tools that empower products within the gaming, culture, and entertainment sectors. It enables users to create their own digital identities, accumulate reputation, earn and spend loyalty points, and utilize these digital identities to access the Mocaverse ecosystem. This ecosystem is founded on Animoca Brands’s extensive portfolio of over 450 companies and a partner network boasting more than 700 million potential users.

Soon, Mocaverse will unveil Moca ID, a non-transferrable NFT collection designed to allow users to craft their on-chain identities and actively engage with the Mocaverse ecosystem. Moca ID holders will have access to Mocaverse ecosystem experiences and can earn loyalty points through their participation. These loyalty points will fuel a permissionless and interoperable loyalty system, set to be progressively decentralized to facilitate third-party adoption and integration of Moca ID, thus advancing Web3 accessibility and growth.

The ongoing evolution of the Internet involves a shift from hierarchical power structures to autonomous ones, and the DAO-based approach of Mocaverse ensures that its community will be focused on driving innovation and collaboration across the broader Animoca Brands ecosystem. Yat Siu, Executive Chairman and Co-Founder of Animoca Brands, stated

Animoca Brands: A diverse portfolio and collaborative efforts

Animoca Brands is renowned for its diverse portfolio of products, including original games like The Sandbox, Phantom Galaxies, Life Beyond, Crazy Kings, and Crazy Defense Heroes. It also leverages popular intellectual properties such as Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP, and Formula E.

In addition to these ventures, Animoca Brands operates multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Life Beyond Studios, Notre Game, TinyTap, Be., PIXELYNX, and WePlay Media.

This recent funding success follows Animoca Brands’s securing of $125 million from investors in September 2022. The company has consistently demonstrated its commitment to innovation and growth, making it a prominent player in the evolving Web3 landscape.

With CMCC Global leading this latest funding round, Animoca Brands is poised to continue expanding its reach in the metaverse and Web3 space, fostering innovation and collaboration in its ever-expanding ecosystem.

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