According to Foresight News, Animoca Brands has announced a strategic business partnership with Daehong Communications, a subsidiary of Lotte Group, by signing a Memorandum of Understanding (MOU). The partnership aims to introduce Animoca's NFT project Mocaverse into Lotte's Web3 ecosystem. Both parties will explore the use of various blockchain-related technologies, products, and services to build a product portfolio and provide virtual experiences in gaming, loyalty, and ticketing sectors within the Lotte Group.
Foresight News previously reported that Animoca Brands received a binding $20 million financing commitment earlier this month to accelerate the development of its NFT series Mocaverse. The funding round was led by CMCC Global, with participation from Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (founder of Sky Mavis), Gabby Dizon (founder of Yield Guild Games), Koda Capital, and Animoca Brands Executive Chairman and Co-founder Yat Siu.
