Animoca Brands Raising $20M for the Mocaverse Launch

Animoca Brands secures $20M funding for Mocaverse project, offering Web3-native tools for immersive and interactive experiences.

Sep 11, 2023 - 11:52
Oct 19, 2023 - 16:21
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Animoca Brands Raising $20M for the Mocaverse Launch
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Animoca Brands, a renowned metaverse and gaming venture capital firm, has recently made headlines by securing a whopping $20 million in funding for its Mocaverse project.

Animoca Brands' recent funding round was led by CMCC Global, a prominent name in the Web3 investment sector. Other notable contributors included Kingsway Capital, Liberty City Ventures, and GameFi Ventures. Yat Siu, the co-founder of Animoca, also made a personal contribution, showcasing his confidence and commitment to the Mocaverse project.

The funds raised are not just a testament to the potential of the Mocaverse but also to Animoca Brands' reputation in the industry. With a vast portfolio of over 450 companies in the Web3 domain and a partner network that can tap into over 700 million potential users, Animoca Brands is well-poised to make a significant impact with the Mocaverse.

Mocaverse aims to provide a suite of Web3-native tools that will empower users to craft gaming and entertainment experiences. One of the flagship products under development is the Moca ID, a unique non-fungible token (NFT) collection. This collection will enable users to craft on-chain identities, allowing them to seamlessly participate in the Mocaverse ecosystem.

By offering tools that allow users to create online identities, build reputations, earn and utilize loyalty points, and more, Mocaverse is setting the stage for a more immersive and interactive Web3 experience.

Animoca Brands has been a pioneer in the Web3 space, with significant investments in NFTs, blockchain gaming, and metaverse-related ventures. Their endeavors have garnered support from influential entities, including Singapore's state investment fund, Temasek.

In a bid to raise the targeted $20 million, Animoca Brands is offering Simple Agreements for Future Equity (SAFEs) to seasoned and professional investors. These SAFEs are priced at A$4.50 per share. An intriguing aspect of this investment mechanism is that after a six-month period, these SAFEs will automatically convert into regular shares. The exact number of new shares issued will hinge on the AUD to USD exchange rate at the time of conversion.

Philip Bohmer Philip is a seasoned journalist that brings clarity to the complex world of cryptocurrencies through his articulate and insightful articles. His passion for blockchain technology fuels his writing, making him a trusted voice in the rapidly evolving digital currency landscape.