Blockchain gaming giant Animoca has raised $11.88 million to power its Mocaverse NFT project.

Animoca Brands, a Hong Kong-based software company and venture capital firm specializing in digital entertainment and blockchain gamification, has raised an additional $11.88 million in a funding round to revitalize its Mocaverse non-fungible token project.

Animoca Brands Raises $11.88 Million to Enhance Mocaverse

In a December 2008 blog post, Mocaverse confirmed that it had received an additional $11.88 million from its parent company, Animoca Brands, for a total of $31.88 million. The new funding comes three months after Animoca Brands raised an additional $20 million in its first round.

.@animocabrands Raised a total of $31.88 million for Mocaverse, with an additional $11.88 million in second round of funding https://t.co/Lm6KZ5J5QZ

– Mocaverse💼🪐 (@MocaverseNFT) December 8, 2023

The second tranche of investment in Mocaverse attracted prominent investors and venture capital firms, including Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, Dapper Labs, and others. Animoca Brands raised funds in both tranches by issuing new common stock at a price of $4.50 per share as part of each raise.

Animoca Brands is one of the most active investors in the nascent Web3 sector, with a portfolio of more than 400 Web3 investments directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Fireblocks, OpenSea, Dapper Labs, and Yield. There are guild games, Alien Worlds, and more.

Launched earlier this year, Mocaverse under the Animoca brand is a non-fungible token project comprised of a limited edition of 8,888 PFP (profile picture) Ethereum-based NFTs called Mocas. The NFT collection gives holders access to Animoca Brands’ gaming and entertainment ecosystem.

Mocaverse future plans explained

Mocaverse expects to use the secured funds to build and serve as an empowerment layer for web3 culture and entertainment, facilitating seamless onboarding and continued growth of web3 projects. As part of this vision, Mocaverse is creating the web3 Commercial Player Program, a loyalty system powered by Mocaverse Loyalty Points (“Realm Points”).

The NFT project will serve as an interoperable meta-experience layer for identity, socialization, and growth on Web3. Mocaverse allows users to participate in the Mocaverse ecosystem to create digital identities, earn reputation, and earn and redeem Realm Points.

It is worth noting that Mocaverse recently launched Moca ID, a decentralized identity (DID) that provides holders exclusive access to Animoca Brands’ 450+ portfolio companies along with an ever-growing partner ecosystem. In the new web3 commercial player program, Moca ID will serve as a digital passport and gateway for users to access and enjoy benefits.

Moca ID holders can earn Realm Points through participation and active participation within the Mocaverse ecosystem, and can use their points to gain exclusive access to real-world benefits and rewards offered by Mocaverse and Animoca Brands. The web3 Commercial Player Program aims to promote accessibility and growth of the wider Web3 ecosystem.

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