Animoca Brands Secures $10M to Enhance Mocaverse Infrastructure

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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.

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