Animoca Brands Raise $20 Million to Accelerate the Development of the “Mocaverse”

Animoca Brands has successfully secured a $20 million investment to accelerate the development of one of its flagship initiatives, the Mocaverse.

The Hong Kong-based game software developer and venture capital firm announced this development in a blog post on its website on September 11, 2023.

The funding round garnered significant interest from several prominent investors. Notably, CMCC Global led the round. Other investors in the round included Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (founder of Sky Mavis), Gabby Dizon (founder of Yield Guild Games), institutional investors of Koda Capital, and even Yat Siu, the executive chairman and co-founder of Animoca Brands himself.

Siu expressed optimism about the project and appreciated the investors who participated in the funding round.

“We are deeply honoured by investors’ support for Animoca Brands and its vision of decentralization,”

Siu stated.

Mocaverse represents Animoca’s ambitious endeavour to build a platform that serves a Web3 suite of tools that leverages blockchain, NFTs, and AI technologies for new paradigms in the gaming, culture, and entertainment industries.

The platform is touted to be an ecosystem encompassing Animoca Brands’ expansive portfolio, comprising over 450 investments in Web3 companies and projects and an extensive partner network of over 700 million users.

Animoca noted that it designed the project to enhance the accessibility and growth of the Web3 sector.

Siu pointed out that the continuous development of the Internet is leading to a move from hierarchical power structures to autonomous ones, and Mocaverse’s DAO-based approach guarantees that its community will concentrate on boosting innovation and cooperation across the wider Animoca Brands ecosystem.

Animoca Brands is renowned in the crypto venture capital sphere for its staunch support of Web3-based projects. Siu disclosed the VC’s plans in January 2023 to establish a $1 billion metaverse fund to support and nurture growing companies and startups within the Web3 industry.

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.