TL;DR
- Animoca Brands has raised $10 million in a new funding round for Mocaverse, bringing the total raised to $41.88 million.
- The funding was structured as a SAFE agreement, with a warrant for the MOCA token valued at $1 billion.
- Mocaverse continues its expansion, integrating on-chain identity systems and forming partnerships with platforms such as Anime Foundation and MyAnimeList, aiming to reach over 1.1 billion active monthly users.
Animoca Brands has announced the raising of $10 million in a new funding round for the Mocaverse project, with participation from investors such as OKX Ventures, CMCC Global, and Hong Shan (formerly Sequoia China).
This new capital will be used to accelerate Mocaverse’s operations, a platform focused on creating interoperable infrastructure for consumer cryptocurrency adoption. With this injection of funds, the total amount raised for the project now stands at $41.88 million.
Mocaverse secured a latest tranche of funding of US $10M led by @OKX_Ventures, HongShan (formerly Sequoia China), & @CMCC_Global at US$ 1B valuation to scale Mocaverse's infrastructure to become the global Account, Identity, and Reputation layer 🪪
The investment was followed… pic.twitter.com/YpD3iVJC7q
— Mocaverse💼🪐 (@Moca_Network) November 12, 2024
The funding was structured as a Simple Agreement for Future Equity (SAFE), with an attached warrant for the MOCA utility token, valued at a fully diluted value of $1 billion. This warrant is offered to investors on a 1:1 dollar basis and is subject to a 30-month vesting schedule.
Mocaverse Connects with 1 Billion Users Through Partnerships
The Mocaverse project, which has already seen significant growth since its previous funding round in 2023, aims to accelerate mass adoption of Web3 by creating interoperable account, identity, and reputation systems for cryptocurrency users. Additionally, it has launched on-chain identity systems like Moca ID, integrating over 1.79 million registrations and activations with more than 160 partners in the Web3 sector.
Mocaverse’s strategy is based on expanding its network through partnerships with large user ecosystems, including Anime Foundation and MyAnimeList, with the potential to integrate up to 218 million active monthly users. Additionally, it has formed a strategic partnership with the TON Foundation to connect with up to 900 million active users on Telegram
