Animoca Brands secures additional funding for its Mocaverse project

In this post:

  • Animoca Brands has secured additional funding of $11 million for its Mocaverse project.
  • Powering collaborations in the NFT space.

Animoca Brands, a prominent investor in the metaverse and blockchain gaming, has secured an additional $11.88 million for its Mocaverse project. This funding follows the $20 million raised in September, bringing the total to $31.88 million. The Hong Kong-based company aims to develop a digital identity and loyalty platform for blockchain games and applications.

Animoca Brands raises an additional $11 million for Mocaverse

The Mocaverse project introduces 8,888 Ethereum NFTs (non-fungible tokens) profile pictures, serving as entry passes into the metaverse. Notable participants in this funding round include blockchain investment firms Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, and NBA Top Shot maker Dapper Labs. Animoca Brands issued new shares at $4.50 each and provided utility token warrants to investors. Mocaverse is positioned as an empowerment layer for Web3 culture and entertainment.

It also offers digital identity profiles and loyalty points, known as Realm Points. The platform aims to facilitate onboarding and growth for various Web3 projects. Ubisoft, a major game publisher, has announced a collaboration with Mocaverse for the Champions Tactics: Grimoria Chronicles NFT game on the Oasys blockchain. Initially, the ecosystem will encompass Animoca’s portfolio of over 400 companies, with plans to expand to include other Web3 projects.

Animoca Brands CEO Robby Yung expressed that Mocaverse serves as a means not only to connect with their close network but, more importantly, to facilitate connections within their ecosystem. The project aligns with the broader trend of integrating blockchain technology and NFTs into the gaming and metaverse space. The second funding tranche highlights the sustained interest and support from investors in Animoca Brands’ vision for Mocaverse. The funds will likely be utilized to further develop the platform’s features, enhance user experiences, and expand its reach within the growing Web3 landscape.

Powering collaborations in the NFT space

The issuance of Ethereum NFTs as entry passes introduces a novel concept, blending digital identity with blockchain technology. This approach aligns with the broader industry trend of utilizing NFTs for unique digital representations and access to exclusive content within metaverse environments. Involvement from established blockchain investment firms such as Block1, OKX Ventures, Foresight Ventures, and Polygon Ventures underscores the growing recognition of the potential of blockchain-based projects like Mocaverse.

The strategic participation of NBA Top Shot maker Dapper Labs further strengthens the credibility and industry relevance of Animoca Brands’ endeavors. Mocaverse’s collaboration with Ubisoft on the Champions Tactics: Grimoria Chronicles NFT game is a significant milestone. The integration of NFTs into mainstream gaming titles demonstrates the industry’s evolution, with major players acknowledging the value and innovation that blockchain technology can bring to the gaming experience.

The broader vision of Mocaverse, serving as an “empowerment layer” for Web3 culture and entertainment, implies a commitment to fostering a more interconnected and user-centric digital landscape. Digital identity profiles and loyalty points contribute to the creation of a cohesive ecosystem, enabling seamless interactions and growth for participating projects. As Animoca Brands expands its ecosystem beyond its existing investment portfolio to include other Web3 projects, Mocaverse could become a key player in shaping the future landscape of decentralized digital experiences.

The emphasis on facilitating connections within the ecosystem aligns with the collaborative and interconnected nature of the Web3 paradigm. Animoca Brands’ successful fundraising for the Mocaverse project reflects the growing momentum and interest in blockchain-based metaverse initiatives. The additional capital, combined with strategic partnerships and collaborations, positions Mocaverse as a significant player in the evolving Web3 landscape. As the project continues to develop, it has the potential to shape the future of digital identity, loyalty, and connectivity within decentralized digital ecosystems.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Ethereum produced 60k extra tokens in a month as inflation inches up
Subscribe to CryptoPolitan