Animoca Brands announced a new $10 million funding round to fast-track and scale Mocaverse, a web3 platform designed to support digital identities, interoperability, and decentralized applications.
Key backers of this round include OKX Ventures, CMCC Global, and Hong Shan, reflecting continued interest from key investors in the project’s potential for broader web3 adoption.
This investment brings Mocaverse’s total to nearly $42 million, following previous funding of $31.88 million.
Source: Mocha BusFunding Details
This funding round provides additional support to develop Mocaverse’s infrastructure, with a focus on enabling identity, account and reputation systems within web3. Along with the capital, investors receive warrants for $MOCA Coin utility tokens, with a fully diluted value of $1 billion, mirroring the structure of previous funding rounds.
The $10 million was raised through Simple Agreements for Future Equity (SAFE), which will be converted into common shares six months after the financing round closes. Participating investors will also have access to $MOCA coin warrants at a price of $0.113 per token with a 30-month vesting schedule.
“With Mocaverse and Realm Network, we are bringing the web3 spirit of interoperability to life, driving decentralization and shared network effects across the broader web3 ecosystem,” said Yat Siu, Co-Founder and Chairman of Animoca Brands. “The raise announced today includes the participation of strategically important investors, and we are honored to receive this level of support as we work to advance digital property rights, interoperability, and the Internet into a more equitable distributed system.”
Source: Mocha BusMocaverse development and expansion plans
Mocaverse aims to build an interoperable infrastructure to support applications within web3 by further developing and providing tools such as the Realm SDK. This software development kit allows partners to create systems that integrate with the Mocaverse network to support interoperability between various web3 applications.
Last March, Mocaverse launched its on-chain ID system, Moca ID, and has since registered 1.79 million IDs. Mocaverse seeks to simplify the user experience and improve compatibility between web3 platforms through identity and reputation systems.
In addition to these developments, Mocaverse is building partnerships with major content platforms and communities. In particular, we recently partnered with Anime Foundation, MyAnimeList, and One Football to attract a total of over 218 million monthly users. Mocaverse also partnered with the TON Foundation to reach out to Telegram Messenger’s user base with a focus on areas such as social gaming and entertainment.