- Animoca Brands raised an additional $12 million for its open metaverse project Mocaverse.
- The funding validates its vision for an interoperable digital world with seamless identity and rewards.
- Mocaverse aims to lower barriers to entry in fragmented Web3 space significantly.
Summary
$11.89M in loot
Hong Kong-based gaming company Animoca Brands has secured a further $11.89 million in financing for Mocaverse, its open metaverse initiative.
This second round builds on an earlier $20 million tranche as more investors buy into the startup’s goal of creating a seamless digital identity and loyalty rewards ecosystem.
Participants in the latest funding include blockchain leaders such as Polygon and Dapper Labs. Animoca says their support validates its vision for Mocaverse as the next-generation empowerment layer underpinning Web3 entertainment and culture.
Moca ID
Central to this is the in-development Moca ID, a digital passport enabling users to easily onboard into Mocaverse and earn transferable reputation and loyalty points by participating across its network of over 400 portfolio companies.
Animoca envisions Mocaverse loyalty tokens eventually becoming an interoperable currency that can integrate with third-party services.
By decentralizing the system, the company hopes to lower barriers to entry in the fragmented Web3 space significantly.
Total raised… $32M
The new capital brings the total raised for Mocaverse to nearly $32 million. Animoca Brands is a lead investor in non-fungible tokens and metaverse platforms like The Sandbox and Axie Infinity.
Its CEO said Mocaverse would leverage these inroads to provide “digital property rights to consumers worldwide.”
While still early, investors are now moving to stake their claim in what they see as a promising long-term vision for consumer adoption of blockchain-based digital worlds.
