x.com/animocabrands” target=”_blank” rel=”noopener”>Animoca Brands has announced a new $10 million funding round to accelerate and expand x.com/Moca_Network” target=”_blank” rel=”noopener”>mocaverse, its web3 platform designed to support digital identity, interoperability and decentralized applications.
Lead backers of this round include OKX Ventures, CMCC Global and Hong Shan, among others, reflecting continued interest from major investors in the project's potential for broader web3 adoption.
This latest investment follows a previous funding of $31.88 million, bringing the total raised for Mocaverse to nearly $42 million.
Source: MocaversoFinancing details
This funding round provides additional support to develop Mocaverse's infrastructure, focusing on enabling identity, account and reputation systems within web3. In addition to equity, investors receive collateral for the utility token $MOCA Coin, with an implied fully diluted valuation of $1 billion, reflecting the structure of previous funding rounds.
The $10 million was raised through Simple Agreements for Future Capital (SAFE), which will convert to common stock six months after the funding round closes. Participating investors also have access to $MOCA Coin collateral with a 30-month vesting schedule, priced at $0.113 per token.
“With Mocaverse and its Realm Network we are bringing to life the spirit of web3 interoperability, driving decentralization and shared network effects across the broader web3 ecosystem,” said Yat Siu, co-founder and CEO of Animoca Brands. “The raise announced today features participation from esteemed and strategically important investors, and we are honored by this level of support as we work to advance digital property rights, interoperability, and the evolution of the Internet toward more equitable decentralized systems.”
Source: MocaversoMocaverse development and expansion plans
Mocaverse aims to build an interoperable infrastructure to support applications within web3 by developing and offering tools such as the Realm SDK. This software development kit allows partners to create systems that integrate with the Mocaverse network, which supports interoperability between different web3 applications.
In March, Mocaverse launched Moca ID, its on-chain identity system, which has since recorded 1.79 million IDs. Through its identity and reputation systems, Mocaverse seeks to simplify the user experience and improve compatibility between web platforms3.
In addition to these developments, Mocaverse is also establishing partnerships with major content communities and platforms. Notably, it recently partnered with Anime Foundation, MyAnimeList, and One Football to attract over 218 million combined monthly users. Additionally, Mocaverse has also partnered with the TON Foundation to reach the Telegram Messenger user base, focusing on areas such as social gaming and entertainment.
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