Animoca Brands, a Hong Kong-based software and investment giant specializing in blockchain entertainment, announced Monday that it has raised US$20 million to accelerate the development of Mocaverse, its flagship project to build a decentralized metaverse.
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Fast facts
- The new capital will be used to develop Mocaverse’s core infrastructure, such as its digital identity system and loyalty program. It will also be used to acquire new partners and expand the project’s reach.
- The funding round was led by Hong Kong-based venture capital firm CMCC Global, along with other investors including Kingsway Capital, Liberty City Ventures, GameFi Ventures, Sky Mavis founder Aleksander Larsen, founder of Yield Guild Games Gabby Dizon, and institutional investors of Koda Capital.
- Mocaverse is a decentralized metaverse that aims to empower users to create their own digital identities, accrue reputation, and earn and spend loyalty points. It will also serve as a platform for users to access a variety of blockchain-powered games, applications, and services.
- Mocaverse will soon launch Moca ID, a non-transferrable NFT collection that will allow users to create their own on-chain identities. Moca ID holders are expected to gain exclusive access to certain metaverse features and the opportunity to earn loyalty points through active engagement.
- “In addition to empowering users to participate in a vibrant community that generates new economic opportunities, Mocaverse will also serve as the digital identity, reputation, and loyalty system for other decentralized organizations,” chairman and co-founder of Animoca Yat Siu said in the press release.
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