Animoca Brands, the Hong Kong-based company operating in the gaming and open metaverse sector, has secured a significant injection of funds for its Mocaverse project. In this latest funding round, the company secured $11.88 million, adding to the previously announced $20 million in investment. This marks a significant achievement in Animoca Brands’ expansion in the realm of digital property rights.
The financial backing came from key investors, including Block1, OKEx Ventures, Foresight Ventures, Polygon Ventures, and Dapper Labs. The participation of these investors reflects the growing confidence in Animoca Brands’ vision for Mocaverse, a project centered around a collection of non-fungible tokens (NFTs).
We are pleased to announce that we have raised an additional US$11.88 million for @MocaverseNFT to build the digital identity and point system for #Web3 #gaming, culture, and entertainment.🎉 Full details: https://t.co/g4GXNp1NEB pic.twitter.com/yCt5wfmPET
— Animoca Brands (@animocabrands) December 8, 2023
To facilitate this funding, Animoca Brands issued new ordinary shares at a price of AUD 4.50 ($2.98) each. Additionally, Animoca Brands rewarded investors with a utility token, linked on a one-to-one basis with the dollar, further incentivizing their participation in the Mocaverse project.
The company sees this new funding as a strong endorsement of Mocaverse’s potential to shape the future of entertainment in Web3. Mocaverse is conceived as an essential empowerment layer designed to simplify the onboarding process and support the growth of various projects in the Web3 space.
Animoca Brands Implements a Loyalty System
A key element of this vision is the development of the Web3 Frequent Player Program. This loyalty system, powered by Mokaverse Loyalty Points (Realm Points), aims to create a meta-interoperable layer for Web3 identities, social interaction, and development.
The substantial volume of investments raised by the company reaffirms Animoca Brands’ position as a leader in the gaming and open metaverse industry. It also highlights the growing interest and confidence of investors in NFT and Web3-focused projects. With a clear vision and solid financial backing, Animoca Brands continues to push the boundaries of digital innovation, with Mocaverse as a key component of its strategic portfolio.