Animoca Brands Raises $20 Million For Mocaverse Project

Hong Kong-based Web3 investor Animoca Brands has announced that it has raised $20 million for its Mocaverse project through a funding round led by CMCC Global. 

The Mocaverse is Animoca Brand’s project that is building Web3-native tools for gaming and entertainment products. 

A Successful Funding Round 
The $20 million was raised by issuing new ordinary shares for Mocaverse. In a statement issued by Animoca Brands, the company stated that it envisions the Mocaverse to become the identity and point system for Web3 gaming, entertainment, and culture. 

“Mocaverse is building Web3-native tooling to empower products in gaming, culture, and entertainment verticals, allowing users to create their own digital identity, accrue reputation, earn and spend loyalty points, and use their digital identity to access the Mocaverse ecosystem, seeded by Animoca Brands.”

CMCC Global led the funding round. Other participants in the round included Kingsway Capital, GameFi Ventures, Liberty City Ventures, Gabby Dizon (Yield Guild Games founder), Aleksander Larsen (Sky Mavis founder), institutional investors from Koda Capital, and several others. Additionally, the executive chairman of Animoca Brands, Yat Sui, also participated in the funding round. 

As a part of the fundraise, Animoca Brands has also granted investors a free-attaching utility token warrant on a 1:1 basis. CMCC Global is one of the first venture capital firms in Asia to focus solely on blockchain and Web3. The firm has been an early investor in leading projects such as Ethereum, Solana, and Cosmos and has over $500 million in assets under management. 
(...)

The Moca ID System 
Animoca Brands has also stated that it plans to launch Moca ID. Moca ID is a non-transferable NFT collection that is designed to enable users to craft their own chain identity and participate in the larger Mocaverse ecosystem. Moca ID users can also earn loyalty points through active engagement, the company revealed in its statement. 

“Mocaverse will soon launch Moca ID, a non-transferrable NFT collection designed to enable users to craft their on-chain identities and participate in the Mocaverse ecosystem. Moca ID holders will gain exclusive access to Mocaverse ecosystem experiences and will have the unique opportunity to earn loyalty points through active engagement.”

The loyalty points will help power a permissionless and interoperable loyalty system. This system will progressively be decentralized, enabling third-party integration and adoption of Moca ID. Meanwhile, the co-founder of CMCC Global, Martin Baumann, stated, 

“Having built a long-term relationship with Animoca Brands, we are thrilled to be leading this first round of funding into Mocaverse. The project will unify the unique portfolio of companies within the Animoca Brands umbrella and will become a portal for hundreds of millions of new users to access Web3 and metaverse ecosystems.”

Source