Animoca Brands Raises $20M for Mocaverse Project
Animoca Brands, a venture capital firm specializing in gaming and metaverse projects, has raised $20 million to advance its Mocaverse initiative from a consortium of prominent Web3 investors.
Based in Hong Kong, the company announced on Monday that CMCC Global led this investment round, which also included contributions from Kingsway Capital, Liberty City Ventures, and GameFi Ventures. Animoca's co-founder Yat Siu also participated in the funding personally.
Animoca Brands has emerged as a leading investor in NFTs, blockchain gaming, and metaverse-related companies in recent years, supported by Singapore's state investment fund Temasek. The aim of Animoca is for Mocaverse to provide native Web3 tools for users to build gaming and entertainment products. One such product in development is Moca ID, a collection of non-fungible tokens (NFTs) designed to enable users to establish identities on-chain to participate in the Mocaverse ecosystem.
The capital was raised through the sale of Simple Agreements for Future Equity (SAFE) at a price of approximately AUD 4.50 (USD 2.90) per agreement, which will automatically convert into common shares after six months.
