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Animoca Brands Raises $10 Million for Mocaverse Metaverse Platform
Investment from Leading Players
Animoca Brands has secured an additional $10 million investment for its Mocaverse platform, aimed at creating an open metaverse. Notable investors in this round include OKX Ventures, CMCC Global, and Hong Shan, with participation linked to the MOCA Coin.
Advancing the Interoperable Infrastructure
The funds raised add to the $31.88 million secured last year to develop Mocaverse’s interoperable infrastructure tech stack, promoting consumer crypto adoption. With a warrant attached for the MOCA Coin utility token, the investment reflects an implied fully diluted value of $1 billion.
Driving Web3 Interoperability
Yat Siu, executive chairman of Animoca Brands, highlighted the significance of Mocaverse in advancing decentralization and shared network effects within the Web3 ecosystem. The recent raise saw participation from strategic investors to support the platform’s growth.
Scaling Operations
The latest funding round aims to accelerate Web3 mass adoption and interoperability by expanding Mocaverse’s operations. This includes the development of Realm SDK, enabling partners to create their own interoperable ecosystems.
Expanding User Base
With over 1.79 million registered Moca IDs and partnerships with major companies like Anime Foundation and One Football, Mocaverse is actively integrating large user base ecosystems to drive consumer crypto adoption.
Strategic Partnerships
Partnerships with TON Foundation and other key players in the industry are set to onboard millions of users to the Moca Network, showcasing the platform’s potential to revolutionize the Web3 space.
Details of the Raise
Animoca Brands issued Simple Agreements for Future Equity (SAFEs) to raise $10 million, with the SAFEs set to convert to ordinary shares after six months. The raise includes a free-attaching utility token warrant for participating investors, reflecting the project’s potential in the rapidly evolving blockchain space.
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