Animoca Brands has successfully raised $20 million in funding for the advancement of its Mocaverse project. Leading the investment round is CMCC Global, with significant contributions from Kingsway Capital, Liberty City Ventures, and GameFi Ventures. Animoca Brands’ co-founder, Yat Siu, also joined the funding effort on a personal level, it said in a statement
“The new capital will be used to advance the Mocaverse project, including product development, 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,” the statement said.
The Mocaverse project plans to offer Web3-native tools, enabling users to create gaming and other entertainment products. One noteworthy creation in progress is Moca ID, a collection of non-fungible tokens (NFTs) designed to empower users to establish on-chain identities for active participation within the Mocaverse ecosystem.
“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 decentralised to enable third-party adoption and integration of Moca ID, with the aim to advance the accessibility and growth of Web3,” Animoca Brands said