Animoca Brands, a metaverse and gaming venture capital firm, has successfully raised $20 million in funding to expand its Web3 identity project called Mocaverse. The funding round was led by CMCC Global, a blockchain- and Web3-focused venture capital company, with participation from other notable investors including Kingsway Capital, Liberty City Ventures, GameFi Ventures, and individuals such as Aleksander Larsen, founder of Sky Mavis, and Gabby Dizon, founder of Yield Guild Games. Yat Siu, the executive chairman and co-founder of Animoca Brands, also took part in the funding round.
Expanding the Mocaverse Project
The funds raised will be used to drive the development of the Mocaverse project, focusing on product development, Web3 adoption, and establishing new partnerships. This initiative aims to expand the gaming, culture, and entertainment ecosystem within Animoca Brands’ extensive portfolio of approximately 450 investments in Web3 companies and projects.
Mocaverse, as described on their website, is a collection of non-fungible tokens (NFTs) called Mocas. These NFTs represent 8,888 unique characters that belong to five different tribes. The goal of Mocaverse is to empower participants by enabling them to create digital identities, gain reputation, earn and spend loyalty points, and utilize their digital identity across the Mocaverse ecosystem.
Introducing Moca IDs
In the near future, Mocaverse will be launching ‘Moca IDs’ – a non-transferrable NFT collection specifically designed to provide users with a unified identity across all of Animoca Brands’ platforms. Moca ID holders will have exclusive access to Mocaverse experiences and will earn loyalty points through active engagement. These loyalty points will contribute to a permissionless, interoperable, and increasingly decentralized loyalty system. The goal is to facilitate the adoption and integration of Moca IDs into third-party platforms, as stated in the press release.
Yat Siu from Animoca Brands emphasized that Mocaverse will create a community where users can participate in new economic opportunities. It will also serve as a digital identity, reputation, and loyalty system for decentralized organizations.
“Mocaverse will be a place of collaboration, where individuals can come together, share experiences, and generate new economic opportunities. It will be the foundation for a digital identity, reputation, and loyalty system that can benefit decentralized organizations.”
– Yat Siu
In summary, Animoca Brands has successfully raised $20 million to further develop its Mocaverse Web3 identity project. The project aims to provide users with a collection of NFTs, enabling them to create digital identities and earn loyalty points. The funding will be used to drive product development, enhance Web3 adoption, and establish strategic partnerships, expanding Animoca Brands’ presence within the gaming, culture, and entertainment ecosystem.
