- 1 Animoca Brands recently announced that it secured $20 Million for Mocaverse.
- 2 The capital will be used to advance Animoca Brands’ new metaverse project.
- 3 The investors were granted a free-attaching utility token warrant on a 1:1 dollar basis.
The leading metaverse and gaming venture capital firm, Animoca Brands, shared the update on its recent funding. It is issuing Simple Agreements for Future Equity (SAFEs) with various sophisticated and professional investors. The firm said it raised $20 Million in funding for a new metaverse project, Mocaverse.
The capital will be used to advance its project including product development, while facilitating Web3 adoption, and securing partnerships. This funding also expands the gaming, culture, and entertainment ecosystem of Animoca Brands’ portfolio of nearly 450 investments in Web3 companies and projects.
Animoca Brands Funding Update
On September 11, 2023, Animoca Brands announced it had “received binding commitments for a funding round to accelerate Mocaverse. As the firm noted, it is one of its “marquee projects.”
The funding update by Animoca Brands states that it raised $20 Million through the issue of new ordinary shares at a price per share of $4.50 or $2.90 as part of the raise. The firm has granted the investors in the round a free-attaching utility token warrant on a 1:1 dollar basis.
Notably, the funding round was led by CMCC Global, Asia’s first venture capital company, which is focused solely on blockchain and Web3 investments. Meanwhile, the other investors included Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (founder of Sky Mavis), Gabby Dizon (founder of Yield Guild Games), institutional investors of Koda Capital, and others.
Yat Siu, the executive chairman and co-founder of Animoca Brands, also participated in the funding round as the firm mentioned in a recent update.
The Official Statements
Yat Siu shared his thoughts as he said: “We are deeply honored by investors’ support for Animoca Brands and its vision of decentralization. The ongoing evolution of the Internet involves a shift from hierarchical power structures to autonomous ones, and the DAO-based approach of Mocaverse ensures that its community will be focused on driving innovation and collaboration across the broader Animoca Brands ecosystem.”
Siu also wrote in his X (Twitter) post: “The next layer of web3 is evolving and we have, as we hoped for, come into a multichain future. The social applications including gaming will bring culture, identity, and entertainment to the masses and onboard the next billion on-chain.”
Martin Baumann, the co-founder of CMCC Global, further said that “Yat Siu has proved time and again his ability to lead Web3 in creative new directions and we are excited to be supporting him and the Animoca Brands team once again as they venture into the Mocaverse.”
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.