Digital Property Rights: Animoca Brands’ Metaverse Platform Raises $20 Million for Mocaverse Project.

Animoca Brands Corporation Limited, a company focused on digital property rights for gaming and the open metaverse, has announced that it has secured funding to accelerate its Mocaverse project. The company raised US$20 million (A$31.3 million) through the issuance of new ordinary shares at a price of A$4.50 per share. As part of the funding round, investors were also granted utility token warrants on a 1:1 dollar basis.

The funding round was led by CMCC Global, a venture capital firm that specializes in blockchain and Web3 investments. Other investors 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 others. Yat Siu, the executive chairman and co-founder of Animoca Brands, also participated in the round.

The capital raised will be used to further develop the Mocaverse project, including product development, promoting Web3 adoption, and forming partnerships to expand Animoca Brands’ portfolio of approximately 450 investments in Web3 companies and projects.

Mocaverse aims to build Web3-native tools that empower users in the gaming, culture, and entertainment sectors. Users will be able to create their own digital identity, earn and spend loyalty points, and access the Mocaverse ecosystem, which is built on Animoca Brands’ extensive portfolio of companies and partner network with over 700 million users.

Mocaverse will soon launch Moca ID, a non-transferrable NFT collection that allows users to establish their on-chain identities and participate in the Mocaverse ecosystem. Moca ID holders will have exclusive access to Mocaverse ecosystem experiences and the opportunity to earn loyalty points through active engagement.

CMCC Global, with its strong track record in early investments in leading blockchain projects, will play a pivotal role in funding Mocaverse. The venture capital firm has reached an AUM of over US$500 million across its funds and is known for its high-conviction investment strategy.

Yat Siu, the co-founder and executive chairman of Animoca Brands, expressed gratitude for the support from investors. He highlighted the shift towards decentralized power structures in the evolving internet and emphasized that Mocaverse’s DAO-based approach will encourage innovation and collaboration. Siu also noted that Mocaverse will serve as the digital identity, reputation, and loyalty system for other decentralized organizations.

Martin Baumann, the co-founder of CMCC Global, expressed excitement about leading the funding round for Mocaverse. He praised the project for unifying Animoca Brands’ portfolio of companies and providing access to Web3 and metaverse ecosystems for millions of new users. Baumann also commended Yat Siu’s leadership in pushing the boundaries of the industry and expressed support for Animoca Brands as they venture into the Mocaverse.

For more information about the funding round, please refer to the official announcement.

Follow crowdfundingmagazine on Instagram: @crowdfundingmagazine_it

What do you think?

363 Points
Upvote Downvote

Written by editorial

Leave a Reply

Your email address will not be published. Required fields are marked *

UK’s LHV Bank Unveils Upgraded SME Lending System

UK Recruitment Activity Weakens Amid Caution Over Economic Outlook, According to KPMG Report