Animoca Brands raises US$20 million for its NFT project Mocaverse, led by CMCC Global

Odaily News According to official news, Animoca Brands announced that it has obtained a new round of binding financing commitments to accelerate the development of its NFT project Mocaverse. Specifically, Animoca Brands raised $20 million through the issuance of new ordinary shares at A$4.50 per share. As part of the financing, the company issued free additional utility token warrants to investors based on a 1:1 USD ratio. The financing was led by CMCC Global, with participation from institutional investors including Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (founder of Sky Mavis), Gabby Dizon (founder of Yield Guild Games) and Koda Capital. Yat Siu, executive chairman and co-founder of Animoca Brands, also participated in the round. The new funding will be used to advance Mocaverse projects, including product development, promoting Web3 adoption and securing partnerships to expand Animoca Brands portfolio of approximately 450 gaming, culture and entertainment ecosystems in Web3 companies and projects. It is reported that Mocaverse is building Web3 native tools to enhance the capabilities of products in the gaming, culture and entertainment vertical fields, allowing users to create their own digital identity, accumulate reputation, earn and spend loyalty points, and use their digital identity to access products produced by Animoca Brands The Mocaverse ecosystem is powered by a network of over 450 portfolio companies and partners. Mocaverse will soon launch the non-transferable NFT series Moca ID, which is designed to allow users to create their own identity on the chain and participate in the Mocaverse ecosystem. Moca ID holders will receive exclusive access to Mocaverse ecosystem experiences and will have the opportunity to earn unique loyalty points through active participation. These loyalty points will power a permissionless and interoperable loyalty system that will be progressively decentralized to allow third parties to adopt and integrate Moca ID, aiming to drive Web3 accessibility and growth.