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Mocaverse secures $20M funding from Animoca Brands

JasperArt 2023 09 11 15.28.46 upscaled

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TL;DR

  • Animoca Brands has announced a $20 million funding round for its Mocaverse project.
  • Mocaverse aims to serve as the digital identity and point system for web3 gaming.
  • Moca ID holders will have exclusive access to the Mocaverse ecosystem and can earn loyalty points through active participation.

 

In a significant move that underscores its commitment to the future of web3 gaming and entertainment, Hong Kong-based Animoca Brands announced a $20 million funding round for its Mocaverse project. The investment aims to accelerate the development of web3-native tools designed to revolutionize the gaming and entertainment sectors.

The funding round drew attention from its high-profile backers. Leading the charge was CMCC Global, joined by Kingsway Capital, Liberty City Ventures, and GameFi Ventures. Notable industry figures like Aleksander Larsen, co-founder of Sky Mavis, and Gabby Dizon, founder of Yield Guild Games, also threw their weight behind the initiative.

Animoca Brands has ambitious plans for Mocaverse. The project aims to serve as the digital identity and point system for web3 gaming, culture, and entertainment. According to the company, Mocaverse is not just a project but an ecosystem. It will soon introduce Moca ID, a unique, non-transferrable NFT collection. This collection allows users to create their on-chain identities and actively engage with the Mocaverse ecosystem.

For those who hold a Moca ID, the perks are plenty. They will gain exclusive access to various experiences within the Mocaverse ecosystem and have the chance to earn loyalty points through active participation.

Yat Siu, Animoca Brand’s co-founder and executive chairman, who also invested in the round, spoke about the transformative potential of Mocaverse. He emphasized that the project aligns with the broader shifts happening on the Internet. “The Internet is evolving from hierarchical power structures to more autonomous ones,” Siu said. “Mocaverse, with its DAO-based approach, aims to drive innovation and collaboration across the Animoca Brands ecosystem.”

Siu also highlighted the broader applications of Mocaverse. He noted that the project would serve as other decentralized organizations’ digital identity, reputation, and loyalty systems. Doing so will empower users to tap into new economic opportunities and participate in a vibrant community.

The announcement comes when the web3 space is gaining traction, and Animoca Brands is positioning itself as a key player in this emerging landscape. With this investment, the company is not just funding a project; it’s investing in a vision for a more decentralized and user-centric digital world.

The $20 million investment in Mocaverse is pivotal for Animoca Brands and the Web3 community. It sets the stage for a new era of gaming and entertainment, one where users are not just consumers but active participants in shaping their digital experiences.

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 decision.

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Mutuma Maxwell

Maxwell especially enjoys penning pieces about blockchain and cryptocurrency. He started his venture into blogging in 2020, later focusing on the world of cryptocurrencies. His life's work is to introduce the concept of decentralization to people worldwide.

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