Animoca Brands Raises $20 Million for The Mocaverse Metaverse Project
Despite a decline in interest in the metaverse, Animoca Brands has successfully closed a $20 million funding round to support its metaverse project, The Mocaverse. The project aims to bring together various stakeholders, including shareholders, investee companies, team members, and business partners, in a single Web3 project expressed through Mocaverse NFTs. These non-transferable NFTs provide exclusive access to the platform and allow holders to accumulate loyalty points. The funding round, led by CMCC Global, also saw participation from Kingsway Capital, Liberty City Ventures, GameFi Ventures, and notable individuals in the crypto space. In addition to the investment, investors received utility token warrants on a 1:1 dollar basis with a 30-month vesting schedule.
The Moca ID: Unified Identity in the Mocaverse Ecosystem
In the Mocaverse ecosystem, participants can maintain a unified identity called a “Moca ID” across multiple Animoca Brands platforms using soulbound tokens. These non-transferable NFTs authenticate users’ on-chain identities and enable their integration into the Mocaverse ecosystem. The collection consists of 8,888 NFTs featuring characters known as Mocas, representing five tribes: “Dreamers,” “Builders,” “Angels,” “Connectors,” and “Neo-Capitalists.” Each tribe represents specific archetypes of Web3 changemakers. Owners of a Moca ID enjoy special access to Mocaverse experiences and have the opportunity to accumulate loyalty points through active participation, fostering connections within the ecosystem.
Animoca Brands’ Strong Performance and Expansion
This funding round follows Animoca Brands’ impressive 2022 performance metrics, with bookings reaching $594 million, a $160 million increase compared to the previous year. The company also acquired six enterprises and expanded its operations to the Japanese market. The successful funding round demonstrates continued investor confidence in Animoca Brands and its vision for the metaverse.
Hot Take: Animoca Brands Secures Funding for The Mocaverse Metaverse Project
Despite waning interest in the metaverse, Animoca Brands has managed to raise $20 million in funding for its ambitious project, The Mocaverse. This metaverse aims to unify various stakeholders through Mocaverse NFTs, providing exclusive access and loyalty rewards. The funding round, led by CMCC Global and joined by other prominent entities and individuals in the crypto space, showcases the continued belief in the potential of the metaverse. Additionally, Animoca Brands’ strong performance in 2022, marked by significant revenue growth and expansions, further bolsters investor confidence. The Mocaverse has the potential to revolutionize the way users interact and connect within the metaverse, creating a seamless and unified experience.
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