BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Animoca Brands Raises $20 Million to Build its Metaverse Project, Mocaverse

by BlockNews Team
September 12, 2023
in Business, Media, Metaverse
A A
Animoca Brands Raises $20 Million to Build its Metaverse Project, Mocaverse
1
SHARES
Share on TwitterShare on Reddit
  • Animoca Brands, a gaming venture capital firm, has raised $20 million for its metaverse project, Mocaverse.
  • Mocaverse aims to revolutionize the Web3 gaming, culture, and entertainment ecosystem through its Web-native tools.

Animoca Brands Plans to Advance Web3 Gaming Ecosystem Through Mocaverse

Animoca Brands, a prominent metaverse and gaming venture capital firm, has successfully raised $20 million to advance its metaverse project, Mocaverse.

Several venture capital firms, including CMCC Global, Liberty City Ventures, Kingsway Capital, GameFi Ventures, and others, led the funding round. Some individual investors who participated in the funding round include Aleksander Larsen (the founder of Sky Mavis), Gabby Dizon, Yat Siu, and others.

The investors participating in the funding round were granted a free-attaching utility token warrant on a 1:1 dollar basis with a 30-month vesting schedule.

According to the press release, the funds raised will be used for the product development of the metaverse project, Mocaverse. Through Mocaverse, Animoca Brands aims to expand its investment portfolio and the Web3 gaming ecosystem.

“Mocaverse is building Web3-native tooling to empower products in gaming, culture, and entertainment verticals, allowing users to create their own digital identity, accrue reputation, earn and spend loyalty points, and use their digital identity to access the Mocaverse ecosystem, seeded by Animoca Brands’ 450+ portfolio companies and partner network with over 700 million addressable users,” the press release reads.

Mocaverse is Animoca Brands’ flagship project, created to launch Web3-native tools to advance and expand the Web3 gaming ecosystem.

Animoca Brands aims to launch Web3-native tools for developing gaming, culture, and entertainment products in Web3 through Mocaverse. With Mocaverse, gamers and creators can create their own digital identities. Moca ID is one of the innovative tools.

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 decentralized organizations,” Yat Siu, the co-founder of Animoca Brand, said.

In the Mocaverse, participants will hold a unique identity known as the Moca ID, a non-transferable token developed to authenticate users’ on-chain identities into the Mocaverse. Moca ID is designed to be an interoperable tool easily adopted by third-party apps and integrated into Web3 applications.

Holders of the Moca ID can access the exclusive offers and unique experiences of the Mocaverse

The collection will include 8888 non-transferable, non-fungible tokens named Mocas. They are classified into five categories of tribes, namely: Dreamers, Builders, Angels, Connectors, and Neo-Capitalists.

The Mocaverse aims to reward participants’ active participation and engagement across entertainment and gaming through a royalty point system.

The press release states, “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 to advance the accessibility and growth of Web3.”

Tags: Animoca BrandsMocaverse
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

Google Stock Tumbles Over 9% Amid Apple’s AI Search Plans: Is This a Buying Opportunity?
Business

Google Stock Tumbles Over 9% Amid Apple’s AI Search Plans: Is This a Buying Opportunity?

May 7, 2025
Meta’s Reality Labs Reports Massive $4.2 Billion Q1 Loss: Should Zuckerberg Give Up Hope?
Business

Meta’s Reality Labs Reports Massive $4.2 Billion Q1 Loss: Should Zuckerberg Give Up Hope?

April 30, 2025
Circle Rejects $5 Billion Acquisition Bid From Ripple XRP: Here is Why
Breaking News

Circle Rejects $5 Billion Acquisition Bid From Ripple XRP: Here is Why

April 30, 2025
$400M Raise, New MoonPay CEO: Why Isn’t Toncoin Skyrocketing?
Business

$400M Raise, New MoonPay CEO: Why Isn’t Toncoin Skyrocketing?

April 25, 2025
Crypto Streaming Just Got Real: Streamers Are Cashing In Big on Abstract Chain
Crypto

Crypto Streaming Just Got Real: Streamers Are Cashing In Big on Abstract Chain

April 24, 2025
Meta Faces $7 Billion Threat Amid China’s Regulatory Crackdown: This Will Have Major Affect on Investors
Business

Meta Faces $7 Billion Threat Amid China’s Regulatory Crackdown: This Will Have Major Affect on Investors

April 23, 2025
Load More

Related News

JRNY CLUB Announces $JRNY Token and EARN Platform

JRNY CLUB Announces $JRNY Token and EARN Platform

May 7, 2025
Everything You Need to Know About Doodles Upcoming DOOD Token

Everything You Need to Know About Doodles Upcoming DOOD Token

May 7, 2025
Federal Reserve Holds Steady as Trump Tariffs Threaten Economic Stability: The Hard Truth Exposed

Federal Reserve Holds Steady as Trump Tariffs Threaten Economic Stability: The Hard Truth Exposed

May 7, 2025
Mark Cuban Slams Trump’s Crypto Ventures as Self-Serving Disaster: Is This True?

Mark Cuban Slams Trump’s Crypto Ventures as Self-Serving Disaster: Is This True?

May 7, 2025
Federal Reserve Holds Rates Steady Amid Tariff Uncertainty: Trump Disappointment Grows

Federal Reserve Holds Rates Steady Amid Tariff Uncertainty: Trump Disappointment Grows

May 7, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Newsletter
  • Advertise
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX Gary Gensler grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.