Animoca Brands secures $20 million for Mocaverse project

Animoca Brands has successfully raised $20 million by issuing new shares at a price of A$4.50 per share. The investors were offered a free connecting utility token warrant on a dollar-for-dollar basis as part of the deal. The funding will be used to accelerate Mocaverse.

Aleksander Larsen, the creator of Sky Mavis, joined CMCC Global, Kingsway Capital, Liberty City Ventures, and GameFi Ventures as investors. Institutional investors like Koda Capital and others joined Yield Guild Games’ owner, Gabby Dizon, in this round of funding. Animoca Brands’ Chairman and Co-Founder, Yat Siu, also made an appearance.

The money will be used to improve the Mocaverse project by putting more effort into areas like product growth, pushing for widespread adoption of Web3, and organizing new groups. Animoca Brands has approximately 450 investments in Web3 projects and companies, and this will help improve their gaming and entertainment ecosystem.

Mocaverse develops Web3 technologies for cultural, gaming, and entertainment promotion. This will help users gain digital independence, popularity, and loyalty points. The Mocaverse ecosystem, supported by Animoca Brand’s over 450 portfolio firms and 700 million targeted consumers, will leverage their digital identities to connect them.

Moca ID, an Animoca non-fungible token (NFT) collection for on-chain identity construction, will be released soon. They will also have access to the Mocaverse community. Only those with a valid Moca ID will be able to access the ecosystem and accumulate loyalty points. A permissionless, interoperable, decentralized loyalty scheme will be strengthened by the loyalty points. Because of this, Moca ID will be recognized by more businesses.

CMCC Global is one of Asia’s first blockchain and Web3 venture capital firms. Ethereum (ETH) at $7, Solana (SOL) at $20, and Cosmos (ATOM) at $0.10 are great investments for the company. CMCC Global has around $500 million AUM. The company operates in Asia, North America, and Europe. CMCC Global Digital Asset Fund, Titan Fund, and Crest are among its funding operations.

Animoca Brands’ co-founder and executive chairman Yat Siu believes the company is on the right track thanks to the support of its investors. By using a decentralized autonomous organization (DAO) model, the Mocaverse will encourage creativity and teamwork within the Animoca Brands ecosystem.

Martin Baumann, co-founder of CMCC Global, is excited to lead Mocaverse’s first round of fundraising after a lengthy collaboration with Animoca Brands. Many new users can now access Web3 and the metaverse. They have always supported industry-improvement founders.

Animoca Brands is issuing Simple Agreements for Future Equity (SAFEs) to a number of prominent investors to raise $20,000,000 at A$4.50 per share. Following six months, the SAFEs will be converted into ordinary shares. The number of shares that will be issued depends on the AUD:USD exchange rate at the time of settlement. Animoca Brand’s current number of outstanding fully paid shares is $1,910,074,127.

Animoca Brands is a leading company involved in digital entertainment, blockchain, and gamification, as well as the advancement of digital property rights. The company develops a wide variety of products and games, including The Sandbox, Phantom Galaxies, and many others.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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