Animoca Brands announced a new $10 million round of funding to fast track and expand Mocaverse, its web3 platform designed to support digital identity, interoperability and decentralized applications.
Key backers of this round include OKX Ventures, CMCC Global and Hong Shan, among others, reflecting continued interest from key investors in the project’s potential for wider web3 adoption.
This latest investment follows a previous round of $31.88 million, bringing Mocaverse’s total funding to nearly $42 million.
Source: MocaverseFunding details
This round of funding provides additional support for the development of Mocaverse infrastructure, with a focus on enabling identity, account and reputation systems in web3. In addition to capital, investors received warrants for $MOCA Coin utility tokens, which carry an implied fully diluted valuation of $1 billion — consistent with the structure of previous funding rounds.
The $10 million was raised through a Simple Agreement for Future Equity (SAFE), which will convert into common equity six months after the closing of the round. Participating investors will also receive $MOCA Coin warrants with a 30-month vesting schedule, priced at $0.113 per token.
“Through Mocaverse and its Realm Network, we are bringing the web3 spirit of interoperability to life, driving decentralization and shared network effects within the broader web3 ecosystem,” said Yat Siu, co-founder and executive chairman of Animoca Brands. “The financing announced today, with participation from a strategically important and respected group of investors, is exciting to us as we work to advance digital property rights, interoperability, and the evolution of the Internet toward a fairer, decentralized system. Honored by the level of support.
Source: MocaverseMocaverse development and expansion plans
Mocaverse aims to build an interoperable infrastructure to support applications within web3 by further developing and providing tools such as the Realm SDK. The software development kit enables partners to create systems that integrate with the Mocaverse network, which supports interoperability between different web3 applications.
In March this year, Mocaverse launched its on-chain identity system Moca ID, with 1.79 million IDs currently registered. Through its identity and reputation system, Mocaverse strives to simplify the user experience and enhance compatibility across web3 platforms.
In addition to these developments, Mocaverse also forges partnerships with major content platforms and communities. Notably, it has recently partnered with Anime Foundation, MyAnimeList and One Football, attracting more than 218 million monthly users. In addition, Mocaverse has also cooperated with the TON Foundation to cover Telegram Messenger’s user base and focus on areas such as social games and entertainment.
