KEY TAKEAWAYS
- Animoca Brands secures an additional $10 million funding for its Mocaverse project, enhancing its interoperable infrastructure for consumer crypto adoption.
- The funding round includes participation from major investors like OKX Ventures and aims to accelerate Mocaverse’s operations and growth.
- Mocaverse focuses on promoting Web3 mass adoption through its Realm SDK, enabling reputation-based ecosystems and partnerships with major companies.
- Strategic partnerships aim to onboard millions of users to the Moca Network, emphasizing interoperability and decentralization in digital property rights.
Animoca Brands Corporation Limited has announced an additional funding tranche of $10 million for its Mocaverse project. This follows previous investments totaling $31.88 million, aimed at developing an interoperable infrastructure tech stack to enhance consumer crypto adoption. The latest investment includes a free-attaching warrant for the MOCA Coin utility token, valued at an implied fully diluted value (FDV) of $1 billion.
The funding round saw participation from notable investors such as OKX Ventures, CMCC Global, HongShan, Republic Crypto, Decima Fund, and Kingsway Capital. The capital will be used to accelerate Mocaverse’s operations, which have seen significant growth since the initial fundraising.
Advancing Web3 Mass Adoption
Animoca Brands plans to utilize the new funds to further its goal of promoting Web3 mass adoption and interoperability. This will be achieved by scaling Mocaverse, which serves as the interoperable infrastructure layer for account, identity, and reputation systems in consumer crypto adoption. A key component of this initiative is the Realm SDK, an interoperable software development kit that enables partners to create reputation-based ecosystems compatible with the Moca Network.
Earlier this year, Mocaverse launched Moca ID, an on-chain identity system as part of the Realm SDK. Since its launch, over 1.79 million Moca IDs have been registered, and more than 160 Web3 activations have been launched with partners including Pixels, BLOCKLORDS, Trust Wallet, and OKX Wallet.
Strategic Partnerships and Future Plans
Mocaverse is set to expand the Moca Network by integrating large user base ecosystems through partnerships with major companies and communities. Recent collaborations include Anime Foundation, MyAnimeList, and One Football, which aim to onboard over 218 million monthly active users to the Moca Network. Additionally, a strategic partnership with TON Foundation seeks to engage up to 900 million active users on Telegram Messenger through various cultural verticals.
Yat Siu, co-founder and executive chairman of Animoca Brands, emphasized the importance of interoperability and decentralization in advancing digital property rights and the evolution of the Internet. Kenneth Shek, project lead for Mocaverse, highlighted the mission to bring crypto to hundreds of millions of users by appealing to fan bases on a personal level.
Animoca Brands is issuing Simple Agreements for Future Equity (SAFEs) to raise the $10 million at a price of A$4.50 per share. These SAFEs will convert to ordinary shares after six months, with the number of shares determined by the AUD:USD exchange rate at settlement. Participating investors receive a free-attaching utility token warrant with a 30-month vesting schedule, priced at $0.113 per token.
For more details, visit the official announcement here.
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