- Animoca Brands has raised millions for Mocaverse.
- The funding round attracted industry heavyweights, including OKX Ventures.
- Mocaverse said it would use the fresh capital to scale its platform.
Animoca Brands, the Hong Kong-based game software company and crypto venture capitalist, has secured millions of dollars in additional funding for its Web3 platform, Mocaverse.
The fresh tranche of funding came three months after Mocaverse joined a $20 million initiative with TON Foundation, a Switzerland-based non-profit organization supporting The Open Network’s development and management. The Web3 platform also raised $31.88 million in two rounds last year.
Mocaverse’s Latest $10M Funding
According to a press release on November 12, Animoca Brands has raised $10 million for Mocaverse in a funding round that attracted participation from OKX Ventures, CMCC Global, Kingsway Capital, Republic Crypto, Decima Fund, and others interested in the project’s growth since its launch.
Sponsored
Mocaverse will use the additional funding to accelerate Web3 adoption and advance the scaling of its platform to include an interoperable infrastructure layer of Account, Identity, and Reputation systems for consumer crypto adoption.
The scaled platform will include Realm SDK, a software development kit that allows companies to create custom reputation-based ecosystems with corresponding app experiences that are interoperable with all projects built on the Moca Network. Current Mocaverse’s partners include One Football, Anime Foundation, and MyAnimeList.
Animoca Brands co-founder Yat Siu welcomed the funding, noting that it would support the company and its Web3 platform on their mission to drive decentralization and “shared network effects” across the broader Web3 ecosystem.
“The raise announced today features participation from esteemed and strategically important investors, and we are honored by this level of support as we work to advance digital property rights, interoperability, and the evolution of the Internet into more equitable decentralized systems,” Siu stated.
Per the statement, Animoca Brands is issuing Simple Agreements for Future Equity (SAFEs) with professional investors to raise $10 million (about A$15.4 million) at the price of A$4.50 per share. The SAFEs will automatically convert to ordinary shares in six months. Animoca will determine the number of new shares to be issued based on the AUD:USD exchange rate at settlement.
The funding also features a free-attaching warrant for the MOCA Coin utility token at an implied fully diluted value (FDV) of $1 billion.
Read about Animoca’s recent equity swap with Futureverse platform:
Animoca Plans $5M Equity Swap with Futureverse Platform
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