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Animoca Brands recently raised $20 million in funding for its popular project called Mocaverse.
CMCC Global led the most recent funding campaign. Also, Kingsway Capital, Liberty City Ventures, and GameFi Ventures participated in the round. Moreover, prominent individuals, like Aleksander Larsen (founder of Sky Mavis) and Gabby Dizon (founder of Yield Guild Games), contributed significantly. Yat Siu, the executive chairman and co-founder of Animoca Brands, was also involved.
Yat Siu, the co-founder and executive chairman of Animoca Brands, stated about the funding:
“We are deeply honored by investors’ support for Animoca Brands and its vision of decentralization. The DAO-based approach of Mocaverse ensures that its community will be focused on driving innovation and collaboration across the broader Animoca Brands ecosystem. In addition to empowering users to participate in a vibrant community that generates new economic opportunities, Mocaverse will also serve as the digital identity, reputation, and loyalty system for other decentralized organizations.”
The infusion of fresh capital is poised to bolster the Mocaverse project across various dimensions. These improvements will involve advancing product development and integrating Web3 technologies. It will also establish partnerships to expand Animoca Brands’ vast portfolio of 450 Web3 company investments.
Animoca Brands has recently invested in NFTs, blockchain gaming, and metaverse-related ventures. The company is currently offering Simple Agreements for Future Equity (SAFEs) to experienced and professional investors. This move aims to raise a total of US$20 million (approximately A$31.3 million). These SAFE agreements are being sold at a rate of A$4.50 per share.
After six months, the SAFEs will automatically convert into regular shares, requiring no manual intervention. The precise number of new shares issued will be contingent on the exchange rate between AUD and USD at the conversion time. Additionally, participating investors have been granted a utility token warrant, subject to a 30-month vesting period.
About Mocaverse
Animoca Brands’s Mocaverse is a Web3-native project that aims to become the metaverse’s identity and point system for gaming, culture, and entertainment.
It represents the membership NFT collection encompassing Animoca Brands’ exceptional array of companies, projects, investments, shareholders, and partners.
The project is developing specialized Web3 tools designed to elevate gaming, culture, and entertainment experiences. These tools empower users to craft their unique online identities, called Mocha IDs (non-transferable NFTs).
Users can cultivate their reputations, accumulate and utilize loyalty points, and leverage this digital persona to enter the Mocaverse ecosystem. The project is still in its early stages but can potentially become a major player in the metaverse.
