Mocaverse Raises $20M to Boost Decentralized Identity Solutions in Animoca Brands Ecosystem

Mocaverse Raises $20M to Boost Decentralized Identity Solutions in Animoca Brands Ecosystem

Play-To-Earn Games News, P2E Games News | 08 May 2024 10:25 UTC

By leveraging Mocaverse you can become a participating member in the whole Animoca Brands web3 ecosystem and participate actively

Mocaverse, one of Animoca's flagship products, has received strong support from Animoca Brands Corporation Limited for a fundraising round to accelerate development. Animoca Brands issued new shares at a price of A$4.50 per share, raising US$20 million, and as part of the financing, the Company awarded the round's investors a free-attaching utility token warrant on a dollar-for-dollar basis.

Notable Investors

This successful funding round was led by CMCC Global, which was the main investor. Other investors included Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (founder of Sky Mavis), Gabby Dizon (founder of Yield Guild Games), institutional investors of Koda Capital, and a number of other blockchain investors. Yat Siu, who is the executive chairman of Animoca Brands and one of its co-founders, is also part of the funding round.

By using Mocaverse's potential, you can become a member of the whole Animoca Brands web3 ecosystem. It will allow you to take part in an active way. It will work the same way as Mocaverse has become a valuable part of the ApeCoin ecosystem and will likely do the same for many other DAOs in the future. Unlike existing identity solutions, the Mocaverse will become a decentralized identity solution that can help all the participants in Web3 and the whole blockchain ecosystem get more out of the shared network effects.

Funding Will Fuel Mocaverse Expansion

The rasied amount will be used to move the Mocaverse project forward. This will include developing products, making it easier for people to use Web3, and making partnerships to grow the gaming, cultural, and entertainment ecosystem of Animoca Brands' portfolio of about 450 investments in Web3 companies and projects. About 450 investments in Web3 companies and projects are now part of Animoca Brands' portfolio.

The 450+ portfolio companies and partner network of over 700 million users that Animoca Brands has are seeding the Mocaverse ecosystem. This allows users to create their own online identity, build reputation, earn and spend reward points, and use their online identity to get into the Mocaverse platform.

Mocaverse is putting out Moca ID, a set of non-fungible tokens (NFTs), to help its users make unique credentials on the blockchain and join the Mocaverse ecosystem. People with a Moca ID will be able to earn loyalty points by doing things in the Mocaverse that are only available to people with a Moca ID. These points will fuel a decentralized, permissionless, and interoperable loyalty system that encourages third-party adoption and integration of Moca ID to increase Web3's reach and use.

CMCC Global

CMCC Global was one of the first venture capital firms in Asia to invest in blockchain and Web3. It is a market leader and an early investor in many top projects, such as Ethereum (ETH) at $7, Solana (SOL) at $0.20, and Cosmos (ATOM) at $0.10. All of CMCC Global's funds have more than $500 million in assets under management (AUM). CMCC manages a number of funds with different ways of investing, such as the CMCC Global Digital Asset Fund, the Titan Fund, and the Crest. The CMCC Global Digital Asset Fund has offices in Asia, North America, and Europe.

About Mocaverse

The Mocaverse is a membership NFT collection that includes all of the great companies, projects, investments, shareholders, and partners that make up Animoca Brands. This set of artifacts will show how the ecosystem is different and how it cares about digital property rights. The community members will help build, use, and support the services that Animoca Brands offers.

When people "mine" Mocaverse NFTs, they sign a License Agreement that lets them make some money from them. Holders will be given a "non-exclusive, non-transferable, royalty-free license to use the Licensed NFT Artwork in any formats and media," as stated in the right Agreement. This means that the NFT could be put on the market.

About Animoca Brands

There are always a few people in uncharted places who carry the torch and show the way. Animoca Brands is one of the bright spots in Web 3, digital entertainment, video games, NFTs, and blockchain technology. Most of us who play video games already know about this company that is doing well. But if someone isn't, they can learn about Animoca Brands and its fairy tale success along with us.

Animoca Brands is a leader in digital entertainment, blockchain, and gamification. It is helping to build the open metaverse and protect digital property. The company makes and releases games and other media based on licensed properties from companies like Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGPTM, and Formula E, as well as its own original properties like The Sandbox, Phantom Galaxies, Life Beyond, Crazy Kings, and Crazy Defense Heroes.

Animoca Brands has invested in more than 450 Web3 companies. Simply put, this funding will allow them to improve the impact of Mocaverse and ensure its expansion to the web3 gaming world. Moreover, the project is backed by Animoca Brands, so it is evident that it will promote web3 culture and entertainment.

Animoca Brands Banks $20 Million for Mocaverse
Animoca Brands Banks $20 Million for Mocaverse

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FAQ - Mocaverse Funding and Expansion

1. What is Mocaverse, and why is it important?

  • Mocaverse is a flagship product of Animoca Brands designed to offer a decentralized identity solution within the Web3 ecosystem. It allows users to create unique blockchain credentials, participate actively in Web3, and earn rewards. Mocaverse is crucial for enhancing shared network effects and promoting web3 culture and entertainment.

2. How much funding did Mocaverse secure, and who were the key investors?

  • Mocaverse raised $20 million in a successful fundraising round led by CMCC Global, a prominent venture capital firm with a strong track record in blockchain investments. Other notable investors included Kingsway Capital, Liberty City Ventures, GameFi Ventures, and individuals such as Aleksander Larsen and Gabby Dizon.

3. What will the funding be used for?

  • The funds raised will be used to advance the Mocaverse project, including the development of new products and the establishment of partnerships. Additionally, the funds will support the growth of Animoca Brands' extensive portfolio of over 450 investments in Web3 companies and projects.

4. How does Mocaverse benefit users and the broader Web3 ecosystem?

  • Mocaverse empowers users to create their online identities, earn loyalty points, and engage with the Mocaverse platform. It offers a decentralized identity solution that enhances participation in Web3, fosters third-party adoption, and promotes interoperability within the blockchain ecosystem.

5. What is Moca ID, and how does it work?

  • Moca ID is a set of non-fungible tokens (NFTs) issued by Mocaverse to enable users to establish unique blockchain credentials. Users with Moca ID can earn loyalty points by participating in exclusive Mocaverse activities. These points contribute to a decentralized, permissionless, and interoperable loyalty system.

6. Who is Animoca Brands, and what is its role in this project?

  • Animoca Brands is a leader in digital entertainment, blockchain technology, and gamification. The company has invested in more than 450 Web3 companies and is committed to advancing the open metaverse and protecting digital property rights. Animoca Brands supports the Mocaverse project and plays a key role in its expansion.

7. How can individuals get involved with Mocaverse and the broader Animoca Brands web3 ecosystem?

  • By leveraging Mocaverse, individuals can become active participants in the entire Animoca Brands web3 ecosystem. They can create their online identities, earn rewards, and engage with the platform's offerings, contributing to the growth of Web3 culture and entertainment.

8. What distinguishes CMCC Global as a key investor in this funding round?

  • CMCC Global is a leading venture capital firm in Asia with early investments in successful blockchain projects like Ethereum, Solana, and Cosmos. The firm brings credibility and expertise to the Mocaverse project and the broader Web3 space.

9. What is the vision for Mocaverse's role in shaping the future of Web3?

  • Mocaverse aims to be a vital component in the web3 gaming world, promoting decentralized identity solutions and enhancing the web3 culture and entertainment landscape. It seeks to foster shared network effects, interoperability, and third-party adoption within the blockchain ecosystem.

10. Where can I find more information about Mocaverse and Animoca Brands?

  • For additional information about Mocaverse and Animoca Brands, you can visit their official websites and follow their social media channels. Stay updated on their latest developments and initiatives in the web3 space.

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