Animoca Brands raises additional $10M for Mocaverse with participation by OKX Ventures, CMCC Global, Hong Shan
Hong Kong-based gaming firm Animoca Brands Corporation Limited has on Tuesday announced an additional tranche of funding of $10 million for its flagship project Mocaverse.
Animoca Brands said in a statement that this was following the previous investments totaling $31.88 million already announced last year to build out the interoperable infrastructure tech stack for consumer crypto adoption with large user base ecosystems.
The investment comes with a free-attaching warrant for the MOCA Coin utility token at an implied fully diluted value (FDV) of $1 billion, in a structure that mirrors the two tranches announced previously.
This funding tranche included participation from OKX Ventures, CMCC Global, HongShan (formerly Sequoia China), Republic Crypto, Decima Fund, Kingsway Capital and others, with the purpose to fast-track and scale Mocaverse’s operations in the context of the project’s considerable growth since its initial fundraising.
The company will use the new funding to advance its goal to accelerate Web3 mass adoption and interoperability, specifically by continuing to scale and build Mocaverse, the interoperable infrastructure layer of account, identity, and reputation systems for consumer crypto adoption.
This includes Realm SDK, the interoperable software development kit (SDK) that allows partners to create their own reputation-based ecosystems with corresponding app experiences that are interoperable with all the ecosystems building on top of the Moca Network.
Earlier this year, Mocaverse launched Moca ID, the pilot on-chain identity system of Realm SDK.
Animoca Brands said Mocaverse will continue to expand the Moca Network and drive consumer crypto adoption by integrating large user base ecosystems via partnerships with major companies and communities.
Mocaverse recently welcomed Anime Foundation, MyAnimeList, and One Football as Realm partners to onboard a combined potential 218+ million monthly active users to the Moca Network through the new identity systems Anime ID and Football ID.
In addition, Mocaverse entered a strategic partnership with TON Foundation to onboard and cross-pollinate up to more than 900 million active users on Telegram Messenger through key cultural verticals such as social casual gaming, sports, IP experiences.
“By creating an interoperable infrastructure layer for consumer apps, Mocaverse integrates various cultural economies and maximizes network effects,
“This investment signals our enthusiasm and determination to promote the development of the Web3 world,” said Jeff Ren, partner of OKX Ventures.
Martin Baumann, Managing Partner and Co-founder at CMCC Global, said the firm foresees the next big wave in the blockchain industry to be centered around consumer and mass market adoption, and Animoca Brands’ Mocaverse is poised to join those industry-defining players.
According to him, Animoca Brands is the innovation leader in Asia when it comes to blockchain empowered consumer applications.
“That is why Mocaverse has become CMCC Global’s largest investment to date,” he added.
He also noted the firm has identified and invested at seed stage in many of the leading blockchain infrastructure protocols such as Solana, Cosmos, Ethereum and others.
Ken Kitahara, general partner of Decima Fund, also said they look forward to exploring unique Japanese opportunities for Mocaverse.
Yat Siu, the co-founder and executive chairman of Animoca Brands, said with Mocaverse and its Realm Network, they are bringing the Web3 ethos of interoperability to life, driving decentralization and shared network effects across the broader Web3 ecosystem.
“The raise announced today (Tuesday) features participation from esteemed and strategically important investors, and we are honored by this level of support as we work to advance digital property rights, interoperability, and the evolution of the Internet into more equitable decentralized systems,” he added.
Kenneth Shek, project lead for Mocaverse, said their mission is to get crypto in the hands of hundreds of millions of users, which requires onboarding the fan bases that appeal to individuals on a deeply personal level.
“We are building Realm Network to decentralize such onboarding efforts for each pioneer in the consumer crypto space across multiple verticals, with the ultimate goal of driving network effect among all of them,” he added.
#AnimocaBrands #Mocaverse #Web3Adoption #CryptoInfrastructure #Interoperability #Ifvex
- Art
- Causes
- Crafts
- Dance
- Drinks
- Film
- Fitness
- Food
- Games
- Gardening
- Health
- Home
- Literature
- Music
- Networking
- Other
- Party
- Religion
- Shopping
- Sports
- Theater
- Wellness