Animoca Brands Secures $10M to Enhance Mocaverse Infrastructure

user avatar

by Giorgi Kostiuk

2 years ago

Animoca Brands has secured $10 million to expand the Web3 infrastructure of its Mocaverse project, aimed at promoting crypto adoption through innovative tools.

Securing Funding for Mocaverse

Animoca Brands, advocating for digital rights in the open metaverse, has raised $10 million for the Mocaverse project. Last year, the company raised $31.88 million for developing cryptocurrency options, bringing the total funding to over $40 million. Notable investors in the latest round include OKX Ventures, CMCC Global, HongShan (formerly Sequoia China), Republic Crypto, Decima Fund, and Kingsway Capital.

Mocaverse's Innovations and Goals

The funds will be used to accelerate the development of Mocaverse, which aims to drive mass crypto adoption with interoperable tools like the Realm SDK and Moca ID. The project's infrastructure includes a warrant for the native utility token MOCA Coin, with an implied fully diluted value of $1 billion, reinforcing a strong trajectory for Mocaverse’s long-term growth.

Impact of Strategic Partnerships

Strategic partnerships with major platforms will onboard millions of users to the Moca Network. They will further expand the project's reach and adoption of its Web3 solutions.

Strategic partnerships will significantly expand Moca's user base.

The substantial funding and strategic partnerships have laid a solid foundation for the long-term success and growth of the Mocaverse project, aimed at widespread cryptocurrency adoption.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Verona Launches verUSD Stablecoin for AI Payments

Verona has launched a new dollar stablecoin, verUSD, designed for AI payments and machine transactions, with over $100 million in institutional commitments.

user avatarAyman Ben Youssef

Blockchain.com Plans IPO to Enter US Public Markets

Blockchain.com is reportedly preparing for an initial public offering that could raise around $500 million.

user avatarSon Min-ho

Bybit Partners with Franklin Templeton for Innovative Off-Exchange Collateral Program

Bybit partners with Franklin Templeton to allow institutional traders to use tokenized fund shares as collateral without depositing them on the exchange.

user avatarTando Nkube

BTCS Prepares for Tokenized Stocks Trading Under SEC Exemption

BTCS's Imperium unit has completed compliance work for potential trading of tokenized stocks under a new SEC exemption.

user avatarKofi Adjeman

21Shares Announces Staking Distributions for Five Crypto ETFs

21Shares has announced staking distributions for five crypto ETFs, converting on-chain validation rewards into cash payouts for investors.

user avatarNguyen Van Long

Soluna and Bitdeer Expand Bitcoin Mining Partnership

Soluna and Bitdeer are increasing their Bitcoin mining capacity at Project Kati 1 in South Texas, adding approximately 7 MW of mining equipment to reach a total of 35 MW, with completion expected in November 2023.

user avatarSatoshi Nakamura

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.