Animoca Brands Raises $20M to Pursue ‘Single Native Web3 Project’ Mocaverse

Animoca Brands, a blockchain gaming and non-fungible token (NFT) company, has raised $20 million in funding to develop its “Single Native Web3 Project” called Mocaverse. The project aims to create a virtual world where users can interact with each other and own virtual assets powered by blockchain technology. This funding will help Animoca Brands further their mission of bridging the gap between gaming and the decentralized web, and enhance the overall user experience in the Mocaverse.

Animoca Brands Closes $20 Million Funding Round for The Mocaverse Metaverse Project

Despite cooling interest in the metaverse, Animoca Brands has successfully concluded a $20 million funding round to support the development of its metaverse project, The Mocaverse. The funding round, led by CMCC Global and participated in by several entities including Kingsway Capital and Liberty City Ventures, aims to introduce a unique metaverse experience anchored by 8,888 non-transferable NFTs.

Introducing The Mocaverse: An Ecosystem of Possibilities

The Mocaverse is a web3 project that acts as a unifying force for the entire Animoca Brands ecosystem. It brings together shareholders, investee companies, team members, business partners, and more through the use of Mocaverse NFTs. These non-fungible tokens allow holders to earn loyalty points and establish their identities within the project.

CEO Robby Yung emphasized the significance of The Mocaverse, stating, “The Mocaverse is not just a way for us to connect with those who are closest to us but also a platform to facilitate connections within our ecosystem. It represents a new era of engagement and collaboration.”

The Moca ID: A Unified Identity for Multiple Platforms

One of the core features of the Mocaverse ecosystem is the Moca ID, a unified identity that spans across multiple Animoca Brands platforms. By using soulbound tokens, participants can authenticate their on-chain identities and seamlessly integrate into the Mocaverse. This ensures a cohesive and personalized experience for users.

The Moca ID is represented by a collection of 8,888 unique NFTs known as Mocas. These NFTs depict characters belonging to five distinct tribes: Dreamers, Builders, Angels, Connectors, and Neo-Capitalists. Each tribe symbolizes different archetypes of Web3 changemakers, fostering diversity and creativity within the Mocaverse.

As users engage actively in the Mocaverse, they can accumulate loyalty points and gain access to exclusive experiences. This rewards active participation and encourages continued involvement within the metaverse.

The successful funding round for The Mocaverse comes in the wake of Animoca Brands’ impressive 2022 performance metrics. With bookings reaching $594 million, the company has experienced significant growth and expansion. The acquisition of six enterprises and the launch of operations in Japan further solidify Animoca Brand’s position as a leader in the metaverse industry.

As the metaverse landscape continues to evolve, The Mocaverse stands as a pioneering project, redefining the possibilities of web3 interactions and collaboration. With its unique NFT ecosystem and the concept of the Moca ID, it promises to create a vibrant and inclusive metaverse experience for all.

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