Animoca Brands Raises $11.88M to Boost Mocaverse
Hong Kong-based software company Animoca Brands has raised $11.88 million in funding to support its Mocaverse non-fungible token (NFT) project. This brings the total funding for Mocaverse to $31.88 million, with the new investment coming from Animoca Brands, its parent company. The funding round follows a previous round in which Animoca Brands raised $20 million. Notable investors and venture capital firms, including Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, and Dapper Labs, participated in the second tranche of investment. Animoca Brands plans to use the funds to establish Mocaverse as a platform for web3 culture and entertainment.
Mocaverse Future Plans Explained
Mocaverse intends to use the secured funds to create a web3 frequent player program and serve as an interoperable meta-experience layer for web3’s identity, socialization, and growth. The program will be powered by Mocaverse loyalty points called “Realm Points.” Mocaverse aims to empower users to build their digital identity, earn and spend Realm Points within the ecosystem, and accrue reputation. The project recently launched Moca ID, a decentralized identity (DID) that provides exclusive access to Animoca Brands’ portfolio companies and partner ecosystem. Moca ID holders will be able to earn Realm Points and receive real-life benefits and rewards.
Hot Take: Animoca Brands Raises $11.88M for Mocaverse Expansion
Animoca Brands has secured $11.88 million in funding to boost its Mocaverse project, a non-fungible token (NFT) initiative. The additional funds come from Animoca Brands, bringing the total investment in Mocaverse to $31.88 million. The investment will support the establishment of Mocaverse as a platform for web3 culture and entertainment. Mocaverse aims to offer a web3 frequent player program, powered by Mocaverse loyalty points, to incentivize user engagement within the ecosystem. The recent launch of Moca ID, a decentralized identity (DID) for holders to access exclusive benefits, further enhances the project’s growth and accessibility within the broader web3 ecosystem.
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