Animoca Brands has made headlines by securing binding commitments for a significant funding round. This initiative aims to fast-track the development of their ambitious Mocaverse project. This round of funding witnessed an influx of $20 million, acquired through the issuance of new ordinary shares. Interestingly, investors involved in this round were granted a utility token warrant, matching on a 1:1 dollar basis.
Leading the charge in this funding endeavor was CMCC Global, followed closely by several other investors such as Kingsway Capital, Liberty City Ventures, and GameFi Ventures, to name a few. Animoca Brands’ co-founder and executive chairman, Yat Siu, also participated in this financial round, stating, “We are deeply honoured by investors’ support for Animoca Brands and its vision of decentralisation.”
The newly accrued capital is earmarked for several critical areas of development within the Mocaverse project. These areas include further product development, promoting Web3 adoption, and fostering partnerships to augment the existing gaming, culture, and entertainment ecosystem of Animoca Brands. The company has an extensive portfolio, encompassing around 450 investments in various Web3 companies and projects, setting a substantial foundation for the Mocaverse project.
Mocaverse Project: A Glimpse into the Future
Venturing deeper into the blueprint of the Mocaverse initiative, it is envisioned to be a hub fostering Web3-native tooling. This infrastructure is projected to empower various verticals such as gaming, culture, and entertainment. It will facilitate users to carve out their digital identities. Users will also be able to accrue reputation points among other features. A key component to watch out for is the Moca ID. This non-transferable NFT collection aims to assist users in crafting their unique on-chain identities, thereby actively engaging in the Mocaverse ecosystem.
Moreover, Yat Siu shed further light on the endeavor, stating, “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. In addition to empowering users to participate in a vibrant community that generates new economic opportunities, Mocaverse will also serve as the digital identity, reputation, and loyalty system for other decentralised organisations.”
What is Mocaverse?
The Mocaverse is a special NFT collection created by Animoca Brands, uniting their family of companies, projects, investments, shareholders, and partners. It showcases the core values of Web3 and digital ownership within its unique ecosystem. Holders of the Mocaverse NFT collection will have the opportunity to engage in various community-centric activities powered by Animoca Brands. These activities are structured around four main pillars: Learn, Play, Do Good, and Build.
For example, under “Learn”, holders can look forward to participating in masterclasses and AMAs hosted by industry leaders, alongside gaining access to valuable educational research insights. The “Play” aspect involves offering exclusive game passes and a chance to access unique in-game assets and airdrops.
Animoca Brands stands as a formidable entity, working relentlessly to uphold digital property rights and pave the path for establishing an open metaverse, an objective that resonates well with its vision and efforts towards crafting a comprehensive and inclusive digital landscape.