Animoca Brands' NFT project Mocaverse has secured a $20 million funding commitment, led by CMCC Global

According to ChainCatcher news, Animoca Brands has announced a new round of binding financing commitments to accelerate the development of its NFT project Mocaverse. Animoca Brands raised $20 million by issuing new ordinary shares at a price of AUD 4.50 per share. As part of this financing, the company issued free additional utility token warrants to investors based on a 1:1 dollar ratio. The financing was led by CMCC Global, with participation from Kingsway Capital, Liberty City Ventures, GameFi Ventures, Yat Siu (Executive Chairman and Co-founder of Animoca Brands), Aleksander Larsen (Founder of Sky Mavis), Gabby Dizon (Founder of Yield Guild Games), and institutional investors from Koda Capital.

Mocaverse is building Web3-native tools to enhance the capabilities of products in the gaming, culture, and entertainment verticals, allowing users to create their own digital identities, accumulate reputations, earn and spend loyalty points, and access the Mocaverse ecosystem supported by Animoca Brands' network of over 450 portfolio companies and partners with more than 7 million addressable users.

Mocaverse will soon launch the NFT series Moca ID, aimed at enabling users to build their on-chain identities and participate in the Mocaverse ecosystem. Moca ID holders will gain exclusive access to Mocaverse ecosystem experiences and will have the opportunity to earn unique loyalty points through active participation. These loyalty points will support a permissionless and interoperable loyalty system that will gradually decentralize to allow third parties to adopt and integrate Moca ID, aimed at driving accessibility and growth in Web3.