Animoca Brands has announced a new $10 million funding round to fast-track and expand Mocaverse, its web3 platform designed to support digital identity, interoperability, and decentralized applications.
Major backers in this round include OKX Ventures, CMCC Global, and Hong Shan among others, reflecting continued interest from significant investors in the project’s potential for broader web3 adoption.
This latest investment follows previous funding of $31.88 million, bringing the total raised for Mocaverse to nearly $42 million.
Source: MocaverseDetails of the Funding
This funding round provides additional backing to develop Mocaverse’s infrastructure, focusing on enabling identity, account, and reputation systems within web3. Alongside capital, investors receive warrants for the $MOCA Coin utility token, with an implied fully diluted valuation of $1 billion—mirroring the structure from previous funding rounds.
The $10 million was raised through Simple Agreements for Future Equity (SAFEs), which will convert to ordinary shares six months after the close of the funding round. Participating investors also have access to $MOCA Coin warrants with a 30-month vesting schedule, priced at $0.113 per token.
“With Mocaverse and its Realm Network we are bringing the web3 ethos of interoperability to life, driving decentralization and shared network effects across the broader web3 ecosystem,” said Yat Siu, Co-founder and Executive Chairman of Animoca Brands. “The raise announced today features participation from esteemed and strategically important investors, and we are honored by this level of support as we work to advance digital property rights, interoperability, and the evolution of the Internet into more equitable decentralized systems.”
Source: MocaverseMocaverse Development and Expansion Plans
Mocaverse aims to build an interoperable infrastructure to support applications within web3 by further developing and offering tools such as the Realm SDK. This software development kit enables partners to create systems that integrate with the Mocaverse network, which supports interoperability across different web3 applications.
In March, Mocaverse launched Moca ID, its on-chain identity system, which has since registered 1.79 million IDs. Through its identity and reputation systems, Mocaverse seeks to simplify user experience and enhance compatibility across web3 platforms.
On top of these developments, Mocaverse is also establishing partnerships with major content platforms and communities. Notably, it recently teamed up with Anime Foundation, MyAnimeList, and One Football to bring in their combined 218+ million monthly users. In addition, Mocaverse has also partnered with TON Foundation to reach Telegram Messenger’s user base, with a focus on areas such as social gaming and entertainment.
Credit: Source link
