- Animoca Brands raises US$20 million in a funding round led by CMCC Global.
- Funds to be used for the Mocaverse project, focusing on Web3-native tooling for gaming, culture, and entertainment.
- Mocaverse to introduce Moca ID, a unique non-transferrable NFT collection, enhancing Web3 accessibility and growth.
Animoca Brands Corporation Limited, a prominent player in the digital property rights for gaming and the open metaverse and owner of Sandbox ($SAND), has successfully garnered US$20 million (equivalent to A$31.3 million) in a recent funding round. This capital injection is earmarked for the acceleration of Mocaverse, a pivotal project within the company’s portfolio.
The funding round saw participation from a consortium of investors led by CMCC Global. Other notable participants include Kingsway Capital, Liberty City Ventures, GameFi Ventures, and institutional investors from Koda Capital. Noteworthy 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, has also invested.
Mocaverse is poised to redefine the Web3 landscape by offering native tooling for gaming, culture, and entertainment sectors. This will enable users to establish their digital identity, accumulate reputation, and engage in a loyalty system. The project aims to tap into Animoca Brands’ extensive network, which boasts over 700 million potential users.
A significant feature of Mocaverse is the upcoming Moca ID, a unique non-transferrable NFT collection. This will allow 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 integral to a decentralized loyalty system. The overarching goal is to enhance Web3 accessibility and growth.
CMCC Global, a pioneer in blockchain and Web3 investments in Asia, has a track record of early investments in leading projects such as Ethereum, Solana, and Cosmos. With assets under management exceeding US$500 million, CMCC Global has established itself as a high-conviction investor with a global presence.
Yat Siu remarked on the investment, stating, “The ongoing evolution of the Internet involves a shift from hierarchical power structures to autonomous ones. Mocaverse’s DAO-based approach ensures community-driven innovation and collaboration across the Animoca Brands ecosystem.”
Martin Baumann, co-founder of CMCC Global, expressed his enthusiasm for the project, highlighting the potential of Mocaverse to unify the unique portfolio of companies under Animoca Brands and serve as a gateway for new users to the Web3 and metaverse ecosystems.
In terms of the funding details, Animoca Brands is issuing Simple Agreements for Future Equity (SAFEs) to sophisticated investors at A$4.50 per share. These SAFEs will be converted to ordinary shares in six months, with the conversion rate determined by the AUD:USD exchange rate at settlement.
About Animoca Brands: A leader in digital entertainment, blockchain, and gamification, Animoca Brands is at the forefront of advancing digital property rights and the open metaverse. With a diverse portfolio of products and over 450 Web3 investments, the company is a key player in the digital realm.
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This article was originally reported on Blockchain News.