Animoca Brands Secures $20 Million Boost For Web3 Marvel, Mocaverse

Animoca-Brands-Secures-$20-Million-Boost-For-Web3-Marvel-Mocaverse

Key Points:

Animoca Brands raises $20 million for the Mocaverse Web3 project.
CMCC Global leads the funding round with other notable investors.
Funds will fuel product development and ecosystem expansion, including the launch of the Moca ID NFT collection.

Animoca Brands, a veteran player in gaming and the metaverse, has successfully secured $20 million (approximately A$31.3 million) in funding to accelerate its marquee project, Mocaverse.

This funding round involved the issuance of new ordinary shares at a price of A$4.50 per share, with an additional offering of free-attaching utility token warrants on a 1:1 basis to round investors.

Mocaverse, envisioned by Animoca Brands, is set to become the identity and point system for web3 gaming, culture, and entertainment.

This project aims to create Web3-native tools that empower products in these verticals, allowing users to establish their digital identities, accumulate reputation, earn and spend loyalty points, and leverage their digital identities to access the Mocaverse ecosystem.

The funding round, led by CMCC Global, saw participation from various notable investors, including Kingsway Capital, Liberty City Ventures, GameFi Ventures, and individuals like Aleksander Larsen, founder of Sky Mavis, and Gabby Dizon, founder of Yield Guild Games.

Yat Siu, the executive chairman and co-founder of Animoca Brands, also joined the round.

The capital raised will be used to advance the Mocaverse project, focusing on product development, Web3 adoption facilitation, and securing partnerships to expand Animoca Brands’ gaming, culture, and entertainment ecosystem.

Mocaverse will soon launch Moca ID, a non-transferrable NFT collection designed to empower users to craft their on-chain identities and engage in the Mocaverse ecosystem. These efforts aim to promote accessibility and growth within the Web3 landscape.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.