Blockchain Gaming Giant Animoca Raises $11.88M To Boost Its Mocaverse NFT Project

Updated: 08 December 2023

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Animoca Brands, a Hong Kong-based software company and venture capital specializing in digital entertainment and blockchain gamification, has raised an additional $11.88 million in a funding round to boost its Mocaverse non-fungible token project.

Animoca Brands Raises $11.88M To Boost Mocaverse

In a December 08 blog post, Mocaverse confirmed receiving an additional $11.88 million from its parent company Animoca Brands, bringing a total of $31.88 million. The new funding appears three months after Animoca Brands raised another $20 million in its first round.

.@animocabrands raises a total of US$31.88 million for Mocaverse, marking an additional US$11.88 million in second tranche of fundinghttps://t.co/Lm6KZ5J5QZ

— Mocaverse💼🪐 (@MocaverseNFT) December 8, 2023

The second tranche investment for the Mocaverse has seen the participation of notable investors and venture capital firms, including Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, Dapper Labs, and others. Animoca Brands raised funds in both tranches via the issue of new ordinary shares at a price per share of $4.50 as part of each raise.

Animoca Brands is one of the most active investors in the nascent Web3 sector, with a portfolio of over 400 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, Alien Worlds, and many more.

Launched earlier this year, the Animoca brands’ Mocaverse is a non-fungible token project comprising a limited edition of 8,888 PFP (profile picture) Ethereum-based NFTs, referred to as Mocas. The NFT collection gives holders access to Animoca Brands’ gaming and entertainment ecosystem.

Mocaverse Future Plans Explained

Mocaverse anticipates using the secured funds to establish and serve as the empowerment layer for web3 culture and entertainment, facilitating seamless onboarding and sustained growth for web3 projects. As part of this vision, Mocaverse is creating the web3 frequent player program, a loyalty system powered by Mocaverse loyalty points (“Realm Points”).

The NFT project will serve as an interoperable meta-experience layer for Web3’s identity, socialization, and growth. Mocaverse will empower its users to create their digital identity, accrue reputation, and earn and spend Realm Points by engaging within the Mocaverse ecosystem.

It’s worth noting that Mocaverse recently launched Moca ID, a decentralized identity (DID) that gives holders exclusive access to Animoca Brands’ 450+ portfolio companies alongside our ever-growing partner ecosystem. In the new web3 frequent player program, Moca IDs will serve as a digital passport and the gateway for users to earn and enjoy the benefits.

Moca ID holders can earn Realm Points through participation and active engagement within the Mocaverse ecosystem and redeem the points to receive exclusive access to real-life benefits and rewards provided by Mocaverse and Animoca Brands. The web3 frequent player program aims to advance the accessibility and growth of the broader Web3 ecosystem.