Animoca Brands Raises $20 Million for Mocaverse Project

Animoca Brands Raises $20 Million for Mocaverse Project

News, Metaverse news

In the ever-expanding world of metaverses and gaming ventures, Animoca Brands has emerged as a prominent player, and it’s making waves once again. The company recently announced a significant milestone: securing a whopping $20 million in funding for its innovative Mocaverse project. But what makes this achievement truly noteworthy is the caliber of the investors backing this ambitious endeavor.

Animoca Brands raises US20M for its Mocaverse project
Animoca Brands raises US$20 million for its Mocaverse project

CMCC Global, a renowned name in the Web3 investment landscape, led the charge in this substantial investment. A group of strategic backers joined them, including Kingsway Capital, Liberty City Ventures, and GameFi Ventures. Notably, Animoca Brands’ co-founder, Yat Siu, personally participated in this landmark funding round.

Now, let’s dive into what makes the Mocaverse project so special and why these Web3 giants are eager to support it.

Unlocking Web3 Potential for Gaming and Culture

The Mocaverse project is not your run-of-the-mill venture. It’s all about harnessing the power of Web3 technology to enhance gaming, culture, and entertainment experiences. Imagine a world where you can create your own unique online identity, build a stellar reputation, earn and utilize loyalty points, all while seamlessly navigating the digital realm.

This is precisely what Mocaverse aims to offer. It’s a holistic ecosystem driven by specialized Web3 tools developed by Animoca Brands. With these tools, users can craft their digital personas and gain access to a myriad of experiences within the Mocaverse universe.

The Strength of Animoca Brands

Behind Mocaverse stands Animoca Brands, a company with an impressive portfolio of over 450 businesses operating in the Web3 space. Additionally, they boast a vast partner network that potentially connects them with a staggering 700 million users. With this kind of reach and influence, Animoca Brands is well-positioned to drive the success of Mocaverse.

It’s worth noting that Animoca Brands has made significant strides in investing in NFTs, blockchain gaming, and metaverse-related ventures. They’ve even received backing from Singapore’s state investment fund, Temasek, underscoring the importance and potential of their initiatives.

Innovative Tools in the Works

One of the most exciting components of Mocaverse is the development of specialized tools tailored for the Web3 era. One such tool, Moca ID, takes the form of unique digital tokens, often referred to as NFTs (Non-Fungible Tokens). These NFTs serve as the building blocks of online identities within the Mocaverse ecosystem, adding a layer of personalization and uniqueness.

A Path Forward: Offering SAFE Agreements

To fuel the growth of Mocaverse, Animoca Brands is extending an opportunity to experienced and professional investors. They are offering Simple Agreements for Future Equity (SAFEs) at a rate of A$4.50 per share, with the goal of raising a total of $20 million (approximately $31.3 million). What sets these SAFEs apart is their unique feature – after six months, they will automatically convert into regular shares without any manual intervention. The precise number of new shares issued during this conversion will be determined by the exchange rate between AUD and USD at the time.

In summary, Animoca Brands’ achievement in securing $20 million for the Mocaverse project represents a significant milestone in the Web3 landscape. With the support of esteemed investors and a clear vision for Web3-driven innovation, Mocaverse is poised to make a substantial impact on gaming, culture, and entertainment.

Animoca, gaming, Mocaverse, NFT, Web3