Animoca Brands' Project Mocaverse Receives $20 Million in Funding Commitments, Led by CMCC Global

Animoca Brands' Project Mocaverse Receives $20 Million in Funding Commitments, Led by CMCC Global

Animoca Brands announced that it has received binding commitments for $20 million in financing to accelerate the development of its project, Mocaverse.

Animoca Brands has raised US$20 million via the issue of new ordinary shares at a price per share of A$4.50; as part of the raise, the Company has granted to the investors in the round a free-attaching utility token warrant on a 1:1 dollar basis.

The round was led by CMCC Global with funding from Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (Founder of Sky Mavis), Gabby Dizon (Founder of Yield Guild Games), Koda Capital, and Yat Siu, Executive Chairman and Co-Founder of Animoca Brands.

The new funding will be used to advance Mocaverse, including product development, driving Web3 adoption and securing partnerships to expand the gaming, culture and entertainment ecosystem of Animoca Brands' portfolio of approximately 450 investments in Web3 companies and projects.

Mocaverse is building Web3-native tools to power products in the gaming, culture and entertainment verticals, allowing users to create their own digital identities, accrue reputations, earn and spend loyalty points, and use their digital identities to access the Mocaverse ecosystem.

Mocaverse will also launch Moca ID, a non-transferrable NFT collection designed to enable users to craft their own on-chain identities and participate in the Mocaverse ecosystem. Moca ID holders will gain access to the Mocaverse ecosystem and will have the opportunity to earn loyalty points. Mocaverse's loyalty system will be progressively decentralized to support third-party adoption and integration of Moca IDs, facilitating the accessibility and growth of Web3.

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Source

Fund Raising

Animoca Brands

NFT

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