Animoca Brands secures $20 million funding to scale up Mocaverse, its groundbreaking web3 identity initiative

Animoca Brands Raises $20 Million for Mocaverse Project

Hong Kong-based web3 investor Animoca Brands has secured $20 million in funding for its Mocaverse project, which aims to develop web3-native tools for gaming and entertainment products. The company envisions Mocaverse as the identity and point system for web3 gaming, culture, and entertainment. The funding round was led by CMCC Global, with participation from investors including Kingsway Capital, Liberty City Ventures, and GameFi Ventures. Notable individuals in the industry, such as Aleksander Larsen and Gabby Dizon, also contributed to the funding round. As part of the raise, Animoca has granted investors a free-attaching utility token warrant on a 1:1 dollar basis.

Mocaverse Project to Launch Moca ID

Animoca plans to use the capital to further develop the Mocaverse project, with the upcoming launch of Moca ID. Moca ID is a non-transferrable NFT collection that allows users to create their on-chain identities and participate in the Mocaverse ecosystem. Moca ID holders will have exclusive access to Mocaverse ecosystem experiences and can earn loyalty points through active engagement. Yat Siu, Animoca Brand’s co-founder and executive chairman, emphasized that Mocaverse’s DAO-based approach ensures a community focused on innovation and collaboration within the broader Animoca Brands ecosystem. Additionally, Mocaverse will serve as the digital identity, reputation, and loyalty system for other decentralized organizations.

Hot Take: Animoca Brands Secures $20 Million for Mocaverse Project

Hong Kong-based web3 investor Animoca Brands has raised $20 million in funding for its Mocaverse project, which aims to develop web3-native tools for gaming and entertainment. The funding round was led by CMCC Global and included participation from other notable investors. The company plans to use the capital to launch Moca ID, a non-transferrable NFT collection that will enable users to create their on-chain identities and engage in the Mocaverse ecosystem. Moca ID holders will enjoy exclusive access to Mocaverse experiences and have the opportunity to earn loyalty points. Yat Siu, Animoca Brand’s co-founder, highlighted the decentralized autonomous organization (DAO) approach of Mocaverse and its role as a digital identity, reputation, and loyalty system for other decentralized organizations.