Animoca Brands has raised $20 million in a funding round led by CMCC Global.
Kingsway Capital, Liberty City Ventures, and GameFi Ventures also participated in the round.
The company issued new ordinary shares at A$4.50 per share granting investors a free-attaching utility token on a 1:1 dollar basis.
Animoca Brands has announced a $20 million funding round led by CMCC Global. The company issued new ordinary shares at A$4.50 (~$2.87) per share granting investors a free-attaching utility token on a 1:1 dollar basis.
Other participants in the fundraising included Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (founder of Sky Mavis), Gabby Dizon (founder of Yield Guild Games), and institutional investors of Koda Capital. They were also joined by Yat Siu, the co-founder and executive chairman of Animoca Brands.
Mocaverse is Animoca Brands’ NFT collection, created for the company’s portfolio members. The project launched in December 2022 with a collection of 8,888 NFTs called Mocas, offered in five classifications called tribes.
Last month, Animoca Brands teamed up with CyberConnect to build a decentralised social layer for the Mocaverse community, enabling members to launch gamified social experiences.
This fundraising will accelerate that process and expand the gaming, culture and entertainment ecosystem of Animoca Brands’ portfolio. The company said the capital will also be used in product development and facilitate Web3 adoption across the company’s 450+ portfolio projects.
Mocaverse is planning to introduce Moca ID, a non-transferable NFT that enables users to create on-chain identities that can be used in the Mocaverse ecosystem. The Moca ID also allows users to earn loyalty points through their active contributions to the Mocaverse ecosystem. The Moca ID is designed with interoperability capabilities for third-party adoption.
Commenting on the announcement, Yat Siu said: “We are deeply honoured by investors’ support for Animoca Brands and its vision of decentralisation. The ongoing evolution of the Internet involves a shift from hierarchical power structures to autonomous ones, and the DAO-based approach of Mocaverse ensures that its community will be focused on driving innovation and collaboration across the broader Animoca Brands ecosystem.
Martin Baumann, the co-founder of CMCC Global, commented: “Having built a long-term relationship with Animoca Brands, we are thrilled to be leading this first round of funding into Mocaverse. The project will unify the unique portfolio of companies within the Animoca Brands umbrella and will become a portal for hundreds of millions of new users to access Web3 and metaverse ecosystems.”
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The post Animoca Brands Ramps Up Mocaverse Project with $20M Funding Led by CMCC Global appeared first on NFTgators .