Animoca Brands secures $10 million in funding to expand Mocaverse with MOCA Coin

Animoca Brands Secures $10 Million for Mocaverse

Animoca Brands announced that it has secured an additional $10 million in funding for its Mocaverse initiative. This funding round saw participation from high-profile investors including OKX Ventures, CMCC Global and Hong Shan, formerly known as Sequoia China. According to Animoca Brands (https://www.animocabrands.com/animoca-brands-raises-additional-usd10m-for), the new investment aims to build a robust, interoperable infrastructure for consumer cryptocurrency adoption. It follows a previous investment worth $31.88 million. -Mocha Bus).

Building interoperable infrastructure

These funds will be used to further Mocaverse’s mission to accelerate Web3 mass adoption and interoperability. Development will focus on creating an interoperable infrastructure consisting of account, identity, and reputation systems for consumer cryptocurrency adoption. A critical component is the Realm SDK, a software development kit that allows partners to create reputation-based ecosystems with compatible app experiences.

Mocha Network Expansion

Since the launch of Moca ID, an on-chain identity system, more than 1.79 million Moca IDs have been registered in more than 160 Web3 activations. Mocaverse has expanded its ecosystem by partnering with companies like Pixels, BLOCKLORDS, and Trust Wallet. This partnership aims to drive consumer cryptocurrency adoption by integrating a large user-based ecosystem into the Moca network.

Strategic partnerships and future prospects

Mocaverse has formed strategic partnerships with organizations such as the Anime Foundation and MyAnimeList, potentially reaching over 218 million monthly active users. Additionally, our collaboration with the TON Foundation will allow us to connect more than 900 million Telegram users to Mocaverse’s network. This partnership highlights the project’s commitment to expanding its reach and influence in the Web3 space.

Investor and Management Insights

Investors have expressed optimism about Animoca Brands’ vision. Jeff Ren of OKX Ventures emphasized the importance of Mocaverse in unifying the cultural economy and maximizing network effects. Martin Baumann of CMCC Global praised Animoca Brands as an innovation leader in blockchain consumer applications. Meanwhile, Yat Siu, co-founder and chairman of Animoca Brands, reiterated the company’s goal of advancing digital property rights and promoting decentralized systems.

Funding structure and future plans

Animoca Brands plans to raise $10 million by issuing Simple Agreements for Future Equity (SAFE) and convert it into common stock in six months. Participating investors will also receive utility token warrants for MOCA coins at a price of $0.113 per token. This strategic funding has been established to support the continued growth and development of Mocaverse as a leading platform in the Web3 ecosystem.Image source: Shutterstock