TechFlow news — Animoca Brands announced it has received a binding commitment for $20 million in funding to accelerate the development of its NFT series, Mocaverse. The company raised the $20 million through the issuance of new ordinary shares at A$4.50 per share. As part of the financing, Animoca Brands has granted utility token warrants to investors in this round on a 1:1 dollar-matching basis at no additional cost.
The round was led by CMCC Global, with participation from Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (co-founder of Sky Mavis), Gabby Dizon (co-founder of Yield Guild Games), Koda Capital, and Yat Siu, Executive Chairman and Co-Founder of Animoca Brands. Proceeds from the funding will be used to advance the Mocaverse initiative, including product development, driving Web3 adoption, and securing partnerships to expand Animoca Brands’ gaming, culture, and entertainment ecosystem across its portfolio of approximately 450 investments in Web3 companies and projects.
Mocaverse is preparing to launch its NFT series, Moca ID, designed to enable users to create their own on-chain identities and engage with the Mocaverse ecosystem. Holders of Moca ID will gain access to the Mocaverse ecosystem and have opportunities to earn loyalty points. The Mocaverse loyalty system will also gradually decentralize to support third-party adoption and integration of Moca ID, fostering greater accessibility and growth within Web3.
