Hong Kong-based Animoca Brands has secured $10 million in funding to develop its Web3 platform, Mocaverse, demonstrating its ambition to accelerate the growth of decentralized ecosystems.
A Strategic Funding Round to Propel Mocaverse
On November 12, Animoca Brands announced the successful completion of a $10 million funding round for its Mocaverse platform. Key investors included OKX Ventures, CMCC Global, Kingsway Capital, and Republic Crypto. This investment is aimed at accelerating Web3 adoption and expanding Mocaverse's infrastructure. The platform will focus on implementing a comprehensive system for account, identity, and reputation management, which are essential for an interconnected Web3 experience. The platform also plans to launch Realm SDK, a tool enabling companies to create custom reputation-based ecosystems, allowing smoother integration across the Moca Network.
Details of the Animoca Brands Funding Structure
Animoca Brands plans to issue Simple Agreements for Future Equity (SAFEs) to professional investors in the funding round. These SAFEs will convert to ordinary shares in six months. The number of shares issued will depend on the exchange rate between AUD and USD at settlement. Investors will also receive a bonus warrant for MOCA Coin, a utility token with an implied valuation of $1 billion. This strategic funding has laid the groundwork for creating a stronger and more interoperable Web3 ecosystem.
Mocaverse Strengthens Partnerships for Growth
Interestingly, Mocaverse is focused not only on technological development but also on building long-term relationships across various industries. The platform has partnered with major industry players such as One Football, Anime Foundation, and MyAnimeList. This strategy aims to make a significant impact across different sectors. The new capital injection is expected to push Mocaverse further in its journey toward creating a decentralized and interconnected future.
Animoca Brands is taking confident steps towards creating a more decentralized and interconnected Internet through strategic investments and expanded partnerships. The funding will accelerate the growth of Web3 and the development of digital property rights.
