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Mocaverse Expansion Secured with US$20M by Animoca Brands

Animoca Brands secures $20 million in funding, led by CMCC Global, to advance the development of Mocaverse and redefine the Web3 landscape in digital property rights and metaverse space.

Key Points

  • Animoca Brands secures $20 million in funding to boost the development of Mocaverse, a significant project in its digital property rights and metaverse portfolio.
  • CMCC Global leads the funding round, joined by investors like Kingsway Capital, Liberty City Ventures, and notable individuals like Aleksander Larsen and Gabby Dizon.
  • Mocaverse aims to redefine Web3 by offering tools for gaming, culture, and entertainment, enabling users to establish digital identities and engage in a loyalty system.
  • The funding is facilitated through Simple Agreements for Future Equity (SAFEs) at A$4.50 per share, with CMCC Global known for its early investments in blockchain and Web3 projects.

A prominent player in digital property rights for gaming and the open metaverse, Animoca Brands Corporation Limited has successfully raised US$20 million (equivalent to A$31.3 million) in a recent funding round.

This funding will be used to accelerate the development of Mocaverse, a key project within the company’s portfolio.

The Consortium of Investors

CMCC Global led the funding round, with participation from a consortium of investors that included Kingsway Capital, Liberty City Ventures, GameFi Ventures, and institutional investors from Koda Capital.

Notable individual investors such as Aleksander Larsen (Sky Mavis founder) and Gabby Dizon (Yield Guild Games founder) also joined the round. Yat Siu, the co-founder and executive chairman of Animoca Brands, invested in the funding round as well.

Mocaverse: Redefining the Web3 Landscape

Mocaverse aims to redefine the Web3 landscape by offering native tooling for gaming, culture, and entertainment sectors.

Users will be able to establish their digital identity, accumulate reputation, and engage in a loyalty system. The project will leverage Animoca Brands’ extensive network, which boasts over 700 million potential users.

One of the significant features of Mocaverse is the upcoming Moca ID, a unique non-transferrable NFT collection.

This will enable users to establish their on-chain identities and actively participate in the Mocaverse ecosystem.

Active engagement will be rewarded with loyalty points, which will be essential to a decentralized loyalty system. The overarching goal is to enhance Web3 accessibility and growth.

CMCC Global: Pioneering Investments in Blockchain and Web3

CMCC Global, a pioneer in blockchain and Web3 investments in Asia, has a proven track record of early investments in leading projects, including Ethereum, Solana, and Cosmos.

With assets under management exceeding US$500 million, CMCC Global is known for its high-conviction investments and global presence.

Yat Siu, the co-founder and executive chairman of Animoca Brands, expressed his excitement about the investment, emphasizing the shift from hierarchical power structures to autonomous ones in the ongoing evolution of the Internet.

Martin Baumann, co-founder of CMCC Global, also expressed enthusiasm for Mocaverse, highlighting its potential to unify Animoca Brands’ portfolio of companies.

Concluding Thoughts

The funding is being facilitated through the issuance of Simple Agreements for Future Equity (SAFEs) to sophisticated investors at A$4.50 per share.

The SAFEs will be converted to ordinary shares in six months, with the conversion rate determined by the AUD:USD exchange rate at the time of settlement.

Animoca Brands is a leader in digital entertainment, blockchain, and gamification. With a diverse portfolio of products and over 450 Web3 investments, the company is at the forefront of advancing digital property rights and the open metaverse.