Animoca Brands Raises $20M for Metaverse Project Mocaverse

Animoca Brands Raises $20M for Metaverse Project Mocaverse – Animoca Brands, a company specializing in metaverse and gaming investments, secured $20 million to further develop its Mocaverse initiative, with significant backing from notable Web3 investors. The funding round was spearheaded by CMCC Global and featured investments from Kingsway Capital, Liberty City Ventures, and GameFi Ventures, among others. 

Additionally, Animoca co-founder Yat Siu contributed personally to the investment. In recent years, Animoca Brands has established itself as a prominent investor in NFTs, blockchain gaming, and metaverse-related ventures, with support from entities like Singapore’s state investment fund, Temasek. Animoca’s primary goal with Mocaverse is to offer Web3-native tools that empower users to create gaming and entertainment products. 

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An example of such a product in progress is Moca ID, an NFT collection intended to enable users to forge on-chain identities for active participation within the Mocaverse ecosystem. The funds were acquired by issuing Simple Agreements for Future Equity (SAFEs) at a price of approximately A$4.50 ($2.90) per unit. 

These SAFE agreements are designed to undergo automatic conversion into regular shares after a six-month period. This mechanism ensures that investors who purchased the SAFE agreements will subsequently hold ordinary shares in the company once the conversion period elapses, thereby solidifying their ownership stake in Animoca Brands.

This strategic financing approach not only secures Animoca’s financial position but also aligns the interests of its investors with the company’s long-term growth prospects. As Animoca Brands continues to push the boundaries of the metaverse, NFTs, and blockchain gaming, these latest developments mark a significant step towards a future where users can actively shape their digital entertainment experiences within the exciting realm of the Mocaverse.

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