- 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.”