Hong Kong-based Animoca Brands has committed significantly to the future of web3 gaming and entertainment by announcing a $20 million funding round for its groundbreaking Mocaverse project. This substantial investment aims to expedite the development of web3-native tools with the potential to revolutionize the gaming and entertainment sectors.
This funding round has garnered the attention of high-profile investors and backers, adding to the project’s momentum. CMCC Global leads the charge alongside Kingsway Capital, Liberty City Ventures, and GameFi Ventures. Prominent figures in the industry, such as Aleksander Larsen, co-founder of Sky Mavis, and Gabby Dizon, founder of Yield Guild Games, have also supported this visionary initiative.
Mocaverse, envisioned by Animoca Brands, holds ambitious plans for the future. It aims to establish itself as the digital identity and points system for web3 gaming, culture, and entertainment. According to Animoca Brands, Mocaverse is not merely a project but a burgeoning ecosystem. In the near future, it will introduce Moca ID, a unique collection of non-transferrable NFTs. These NFTs will enable users to craft their on-chain identities and actively engage within the thriving Mocaverse ecosystem.
The benefits are abundant for those fortunate enough to possess a Moca ID. They will enjoy exclusive access to various experiences within the Mocaverse ecosystem and have the opportunity to earn loyalty points through active participation.
Yat Siu, Animoca Brand’s co-founder and executive chairman, who also participated in the funding round, spoke fervently about the transformative potential of Mocaverse. He emphasized that this project aligns seamlessly with the broader shifts occurring on the Internet. “The Internet is evolving from hierarchical power structures to more autonomous ones,” Siu asserted. “Mocaverse, with its DAO-based approach, aims to foster innovation and collaboration throughout the Animoca Brands ecosystem.”
Siu also underscored the broader applications of Mocaverse, highlighting its role as the digital identity, reputation, and loyalty system for other decentralized organizations. This move will empower users to explore new economic opportunities and actively participate in a thriving community.
This announcement arrives at a pivotal moment in the web3 space’s growth, with Animoca Brands positioning itself as a key player in this burgeoning landscape. With this substantial investment, the company is not merely funding a project but investing in a vision for a more decentralized and user-centric digital world.
The $20 million investment in Mocaverse is a turning point for both Animoca Brands and the broader Web3 community. It sets the stage for a new era of gaming and entertainment, one in which users are not passive consumers but active participants shaping their digital experiences.