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Animoca Brands Raises $20 Mln for Mocaverse Project

source-logo  cryptonews.net 11 September 2023 12:02, UTC
Anna Martynova

Animoca Brands, a metaverse and gaming venture capital firm, has raised $20 mln to advance its Mocaverse project from a group of other prominent Web3 investors. The investment was led by CMCC Global and included contributions from Kingsway Capital, Liberty City Ventures and GameFi Ventures, the Hong Kong-based company said on Monday.

Animoca Brands has been a leading investor in NFTs, blockchain games and metaverse-related companies in recent years, backed by companies such as Singapore's state investment fund, Temasek. Animoca's goal is for Mocaverse to provide users with native Web3 tools for creating gaming and other entertainment products. One such product in development is Moca ID, a collection of non-fungible tokens (NFTs) designed to allow users to create on-chain identities to participate in the Mocaverse ecosystem.

The capital was raised through the sale of Simple Agreements for Future Equity (SAFEs) at a price of approximately A$4.50 ($2.90) each, which will automatically convert into ordinary shares after six months.

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