In a move set to reshape the landscape of Web3 gaming and entertainment, Animoca Brands has successfully secured an additional $11.88 million for its Mocaverse project. This injection of funds, constituting the second tranche following the initial $20 million, propels the total investment to an impressive $31.88 million. The new funding, marked by participation from major players, is earmarked for advancing digital identity and the point system within the Mocaverse ecosystem.
We are pleased to announce that we have raised an additional US$11.88 million for @MocaverseNFT to build the digital identity and point system for #Web3 #gaming, culture, and entertainment.🎉 Full details: https://t.co/g4GXNp1NEB pic.twitter.com/yCt5wfmPET
— Animoca Brands (@animocabrands) December 8, 2023
Mocaverse’s Financial Ascent Continues
Animoca Brands, a trailblazer in digital property rights for gaming and the open metaverse, has announced a noteworthy second tranche of funding for Mocaverse. With a robust participation from entities like Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, and Dapper Labs, this additional $11.88 million builds upon the $20 million raised in the first tranche led by CMCC Global in September.
The funds were raised through the issuance of new ordinary shares at A$4.50 per share, mirroring the approach taken in the first tranche. Investors were additionally granted a utility token warrant on a 1:1 dollar basis, aligning with Animoca Brands’ commitment to transparency and value creation. The use of Simple Agreements for Future Equity (SAFEs) ensures automatic conversion to ordinary shares after six months.
Mocaverse: Empowering Web3 Culture and Entertainment
Viewed as the empowerment layer for Web3 culture and entertainment, Mocaverse is designed to facilitate seamless onboarding and sustained growth for Web3 projects. The Web3 Frequent Player Program, fueled by “Realm Points,” allows users to shape their digital identity, earn and spend points within the Mocaverse ecosystem. The project boasts a significant community base from Animoca Brands’ extensive portfolio, totaling over 700 million users.
Moca ID Unveiled: Gateway to Real-Life Benefits
A recent highlight is the introduction of Moca ID within the Mocaverse ecosystem. This digital passport enables users to access exclusive benefits through the Web3 Frequent Player Program. Users can accrue Realm Points by actively engaging in the Mocaverse ecosystem, creating a bridge between the virtual and real worlds. The aim is to provide tangible rewards and benefits to Moca ID holders, further enhancing the platform’s appeal.
Mocaverse’s Vision for the Future
Mocaverse positions itself as an interoperable meta-experience layer for Web3 identity, social interaction, and growth. The platform’s ambition is to progressively decentralize its loyalty system, fostering third-party adoption and integration of Moca ID. With this strategic funding, Mocaverse aims to advance the accessibility and growth of the broader Web3 ecosystem.
As Animoca Brands propels Mocaverse into a new era of financial strength, the future of Web3 gaming and entertainment takes a bold step forward. The commitment to interoperability, coupled with the dynamic Web3 Frequent Player Program, positions Mocaverse as a frontrunner in the evolving metaverse landscape. Users and industry enthusiasts can anticipate a more immersive and feature-rich Mocaverse experience, driven by this substantial injection of funds.