$10 Million Investment Fuels Mocaverse Growth by Animoca Brands

ChainPlay

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21 days ago

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New Funding for Mocaverse by Animoca Brands

Animoca Brands has raised an additional $10 million to drive Mocaverse forward. This recent funding, led by prominent blockchain investors like OKX Ventures, CMCC Global, Hong Shan, Republic Crypto, Decima Fund, and Kingsway Capital, is intended to strengthen Mocaverse’s development. Mocaverse is focused on creating an interconnected environment for digital users, with a strong emphasis on expanding consumer crypto adoption.

Source: X

This new funding adds to the $31.88 million previously raised, further backing Mocaverse’s ambition to develop a metaverse with an interoperable structure. The utility token for this ecosystem, MOCA Coin, holds a fully diluted valuation of $1 billion. As a perk, investors in this round received a free-attaching warrant for MOCA Coin, designed to operate within the Mocaverse network, adding value to their investment.

Mocaverse supports the decentralized foundation of web3, introducing a robust framework for account management, identity verification, and reputation tracking. According to Yat Siu, executive chairman of Animoca Brands, decentralization and interoperability lie at the heart of Mocaverse’s mission. Through its Realm Network, Mocaverse seeks to make interoperability in web3 a reality, bridging various applications and enhancing the ecosystem’s cohesion.

With the raised funds, Mocaverse plans to fast-track its core infrastructure, including the Realm SDK. This software development kit allows partners to build reputation-based systems compatible across the Moca Network. The infrastructure provides a solid base for creating and maintaining digital identities, enabling developers to craft applications with interoperability and reputation tracking. This focus on core functionality aims to attract developers and users seeking cohesive digital experiences.

Expanding Crypto to Global Audiences

Mocaverse’s mission is to bring crypto to a worldwide audience, aiming to onboard millions of users into the web3 space. Kenneth Shek, Mocaverse’s project lead, emphasized the goal of making crypto more accessible: "Our mission is to get crypto in the hands of hundreds of millions of users." Since launching, Mocaverse has registered over 1.79 million Moca IDs, creating an on-chain identity network supporting various web3 applications. Through partnerships with Pixels, Blocklords, Trust Wallet, and OKX Wallet, Mocaverse has solidified its presence, hosting over 160 web3 activations.

Source: X

The new funding will also strengthen Mocaverse’s ongoing partnerships. Recent collaborations with Anime Foundation, MyAnimeList, and One Football connect Mocaverse to audiences with shared interests, introducing identity systems like Anime ID and Football ID. These partnerships open the door to millions of active users, providing tailored identity solutions that align with the specific interests of these communities.

Additionally, Mocaverse’s partnership with the TON Foundation could lead to major integrations. Through this collaboration, Mocaverse aims to bring its identity solutions to Telegram Messenger, which has a vast user base of over 900 million active users. This integration would simplify onboarding for global users, reaching people interested in casual gaming, sports, and more.

Investors have shown strong support for Mocaverse’s interoperable ecosystem. Jeff Ren, partner at OKX Ventures, highlighted how Mocaverse integrates cultural economies across consumer apps, leveraging network effects. Similarly, Martin Baumann, managing partner at CMCC Global, praised Mocaverse as a leading force in consumer-focused blockchain applications. He shared that CMCC Global considers this its largest investment, signaling high expectations for Mocaverse’s potential in mainstream blockchain adoption.

Ken Kitahara, general partner at Decima Fund, also voiced support, noting Mocaverse’s innovative approach to blockchain social graphs and its potential for growth in Japan’s digital economy, where blockchain is rapidly gaining traction.

Final Thoughts 

Animoca Brands is using Simple Agreements for Future Equity (SAFEs) to structure additional funding, converting to ordinary shares after six months, with a share price tied to the AUD exchange rate at settlement. Investors will also receive warrants for MOCA Coins, vesting over 30 months at a predetermined price.

As Mocaverse expands, Animoca Brands is building partnerships and technological advances, supporting a decentralized internet with secure, portable digital identities. Through these efforts, Mocaverse positions itself as a leader in the shift toward web3, attracting high-profile collaborations and consumer interest, shaping a future where digital identities hold a central role in online experiences.