According to Foresight News, Animoca Brands has received a binding commitment for $20 million in financing to accelerate the development of its NFT series, Mocaverse. The company raised the funds by issuing new ordinary shares at a price of 4.50 AUD per share. As part of the financing, Animoca Brands has granted utility token options to investors in this round at a 1:1 USD ratio. 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 Yat Siu, Executive Chairman and Co-founder of Animoca Brands.
The funds will be used to advance the Mocaverse project, including product development, promoting Web3 adoption, and ensuring partnership relationships to expand Animoca Brands' gaming, culture, and entertainment ecosystem for its approximately 450-strong portfolio of Web3 companies and projects. Mocaverse is set to launch the NFT series Moca ID, which aims to enable users to create their own on-chain identities and participate in the Mocaverse ecosystem. Moca ID holders will gain access to the Mocaverse ecosystem and have the opportunity to earn loyalty points. The Mocaverse loyalty system will also be gradually decentralized to support third-party adoption and integration of Moca ID, promoting Web3 accessibility and development.
