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Animoca Brands Mocaverse Fundraise

Animoca Brands raises $20 million for its Mocaverse project development and growth

Animoca Brands Corporation Limited, the company advancing digital property rights for gaming and the open metaverse, today announced it has received binding commitments for a funding round to accelerate Mocaverse, one of the Company’s marquee projects. Animoca Brands has raised US$20 million (approximately A$31.3 million) via the issue of new ordinary shares at a price per share of A$4.50; as part of the raise, the Company has granted to the investors in the round a free-attaching utility token warrant on a 1:1 dollar basis.

The funding round was led by CMCC Global, with other investors including 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 others. Yat Siu, the executive chairman and co-founder of Animoca Brands is also participating in the round.

Where will the funds be used?

The funds raised by Animoca Brands will be used for advancing the Mocaverse project, which includes facilitating Web3 adoption and securing partnerships to expand the gaming, culture, and entertainment ecosystem of Animoca Brands’ portfolio of approximately 450 investments in Web3 companies and projects.

To help people participate in the Mocaverse ecosystem, Mocaverse will soon introduce Moca ID, a non-transferrable NFT collection. Moca ID holders will gain exclusive access to Mocaverse ecosystem experiences and will have the unique opportunity to earn loyalty points through active engagement. These loyalty points will power a permissionless and interoperable loyalty system that will be progressively decentralized to enable third-party adoption and integration of Moca ID, with the aim of advancing the accessibility and growth of Web3.

Yat Siu, the co-founder and executive chairman of Animoca Brands, commented: “We are deeply honoured by investors’ support for Animoca Brands and its vision of decentralisation. 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.”

Martin Baumann, the co-founder of CMCC Global, said: “Having built a long term relationship with Animoca Brands, we are thrilled to be leading this first round of funding into Mocaverse. The project will unify the unique portfolio of companies within the Animoca Brands umbrella and will become a portal for hundreds of millions of new users to access Web3 and metaverse ecosystems. At CMCC Global, we look to support innovative founders that are pushing the boundaries of our industry. Yat Siu has proved time and again his ability to lead Web3 in creative new directions and we are excited to be supporting him and the Animoca Brands team once again as they venture into the Mocaverse.”

Source: Animoca Brands

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