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Animoca Brands Secures $20 Million Investment for Mocaverse Metaverse Project

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Sep 12, 2023 at 10:25 am

In a major breakthrough for the metaverse and gaming venture capital sector, Animoca Brands has successfully raised $20 million in funding for its ambitious Mocaverse project. This substantial financial support is the culmination of a collaborative effort involving influential Web3 investors. CMCC Global took the lead, with significant contributions from Kingsway Capital, Liberty City Ventures, and GameFi Ventures. Notably, Yat Siu, co-founder of Animoca, played a hands-on role in this fundraising campaign.

With a proven track record of substantial investments in NFTs, blockchain gaming, and metaverse-centric enterprises, Animoca Brands has consistently been a pioneer in this dynamic industry. The company enjoys robust backing from major entities like Temasek, Singapore's state investment fund. At its core, Mocaverse aims to provide users with Web3-native tools, enabling them to create a diverse range of gaming and entertainment offerings. Among the exciting projects in the pipeline, Moca ID stands out—a groundbreaking collection of non-fungible tokens (NFTs) designed to allow users to establish on-chain identities, facilitating seamless integration into the Mocaverse ecosystem.

The funding endeavor took shape through the issuance of Simple Agreements for Future Equity (SAFEs) at an approximate value of A$4.50 ($2.90) per unit. These financial instruments are structured to automatically convert into ordinary shares after a six-month period. This strategic financial move represents a significant leap forward for Animoca Brands, highlighting the industry's growing confidence in the transformative potential of the Mocaverse project. This successful funding round not only signifies a pivotal moment for Animoca Brands but also reinforces the broader industry's belief in the game-changing potential of the Mocaverse initiative.

This achievement underscores the increasing recognition and support for innovative ventures in the metaverse and gaming space. Animoca Brands is well-poised to continue propelling advancements in Web3 technology, paving the way towards a more immersive and interactive digital future.

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