Animoca Brands, a company dedicated to promoting games and digital property rights in the open metaverse , announced today that it has completed a $10 million financing for its Mocaverse, which has previously raised $31.88 million in financing (see the announcement on December 8, 2023 for details ). The funds raised will be used to build an interoperable infrastructure technology stack for consumer adoption of cryptocurrencies and build a large user base ecosystem.
At the same time, the investment comes with a free warrant for the utility token MOCA, which has a fully diluted value (FDV) of $1 billion.
Participants in this round of financing include OKX Ventures, CMCC Global, Hong Shan (formerly Sequoia China), Republic Crypto, Decima Fund, Kingsway Capital, etc. Their participation will help Mocaverse expand its operating scale faster against the background of significant growth after the completion of its first round of financing.
The Moca Group will use the new funds to accelerate its goal of Web3 mass adoption and interoperability by continuing to expand and build the Mocaverse, an interoperable infrastructure layer for consumer-adopted cryptocurrency accounts, identities, and reputation systems. This includes the Realm SDK, an interoperable software development kit (SDK) that allows partners to create their own reputation-based ecosystems and provide corresponding application experiences that are interoperable with all ecosystems built on the Moca Network.
Earlier this year, Mocaverse launched Moca ID, a pilot on-chain identity system for Realm SDK. Yat Siu, co-founder and executive chairman of Mocaverse, discussed the opportunities presented by the new decentralized identity (DID) in a January article (see full article for details), arguing that “digital life will become our platform, and we will legally own these platforms and their associated (economic) benefits through Web3.”
Since the launch of Moca ID, more than 1.79 million Moca IDs have been registered, and more than 160 Web3 joint activities have been launched with partners such as Pixels, BLOCKLORDS, Trust Wallet, OKX Wallet, etc.
Mocaverse will continue to expand the Moca network and drive consumer adoption of cryptocurrency by integrating large user base ecosystems through partnerships with major companies and communities. Mocaverse is pleased to have Anime Foundation, MyAnimeList and One Football as Realm partners, bringing over 218 million monthly active users to the Moca network through the new identity systems Anime ID and Football ID (see announcements on May 29, 2024 and June 21, 2024 for details).
In addition, Mocaverse has established a strategic partnership with the TON Foundation , attracting more than 900 million active users on Telegram through key cultural verticals such as social casual games, sports, and IP experiences (details are in the announcement on July 22, 2024).
Investor Comments
Jeff Ren, Partner at OKX Ventures, said : We are delighted to invest in the Analytic Group and Mocaverse, a project that perfectly represents the vibrant ecosystem of the Analytic Group. By creating an interoperable infrastructure layer for consumer applications, Mocaverse integrates various cultural economies and maximizes network effects. At the same time, we are also very happy to establish a strategic partnership with OKX Wallet, Mocaverse and X Layer to jointly explore new solutions in the Web3 field. This investment demonstrates our passion and determination to promote the development of the Web3 world.
Martin Baumann, Managing Partner and Co-founder of CMCC Global, said : Mocaverse is an innovative leader in blockchain-enabled consumer applications in Asia. Xiao Yi and his team have extensive experience in building globally recognized leading blockchain and metaverse applications such as games, platforms, NFT-related applications, etc. At CMCC Global, we have identified and invested in many blockchain infrastructure protocols at the seed stage, such as Solana, Cosmos, Ethereum, etc. We foresee that the next wave of the blockchain industry will be centered on consumer and mass market adoption, and Mocaverse by Mocaverse is ready to become one of the industry definers. This is why Mocaverse can be CMCC Globals largest investment to date.
“We are proud to support Xiao Yi, Decima Group, and the Mocaverse team as they work to bring clarity to the future of on-chain social graphs, and look forward to exploring unique market opportunities for Mocaverse Japan,” said Ken Kitahara, General Partner at Decima Fund.
Management Comments
“With Mocaverse and its Realm Network, we are bringing Web3 interoperability to life, driving decentralization and shared network effects across the broader Web3 ecosystem,” said Xiao Yi, co-founder and executive chairman of Anmi Group . “Today’s announcement includes participation from well-respected and strategic investors in the industry, and we are honored to have this level of support as we work to advance digital property rights, interoperability, and the evolution of the internet towards a fairer, decentralized system.”
Kenneth Shek, head of the Mocaverse project, said : “Our mission is to enable hundreds of millions of users to own cryptocurrency, which requires engaging a fan base on a personal level. We are building the Realm Network to distribute this mission to pioneers in multiple crypto verticals, with the ultimate goal of driving network effects among all of these pioneers.”
Fundraising details
The Animation Group is issuing Simple Agreements for Future Equity (SAFEs) with a variety of experienced professional investors to raise US$10 million (approximately A$15.4 million) at A$4.50 per share. The SAFEs will automatically convert into ordinary shares after six months. The number of new shares issued will be determined by the AUD/USD exchange rate at the time of settlement. The company currently has 1,923,933,217 fully paid ordinary shares in issue.
As part of the fundraise, the company has granted participating investors free utility token warrants at a 1:1 ratio with a vesting period of 30 months. This is based on a fully diluted value (FDV) of $1 billion for the MOCA token, with each token priced at $0.113.
About Mocaverse
Mocaverse is the flagship project of the Anmi Group, providing consumers with a Web3 platform to engage and maximize their experience and rewards with Web3. Mocaverse is one of the 540 invested companies of the Anmi Group and is building the Moca Network, a network that enables a single sign-on entry for different networks, where partners can work together to build different consumer applications. Realm SDK is its core product, and Mocaverse aims to decentralize the login of millions of users from partners through an interoperable wallet, ID, reputation, and points system.
Website: https://www.mocaverse.xyz
X (Twitter): https://x.com/Moca_Network
Medium: https://medium.com/mocaverse
Discord: http://discord.gg/MocaverseNFT
About MOCA Foundation
The MOCA Foundation is a community-owned foundation that aims to enhance the network effect of the Mocaverse in culture and entertainment. Its mission is to strengthen unity and collaboration and to be at the forefront of innovation in governance, culture, and growth. As the largest interoperable cultural economy platform in the Web3 space based on the MOCA token, it continues to support the development of Moca DAO, an upcoming DAO for DAOs where members will take the lead in co-creating Moca Improvement Proposals (MIPs) and participate in cross-DAO authorization through a unique delegation model.
Website: https://www.moca.foundation
X (Twitter): https://twitter.com/MOCAFoundation
About Animoca Brands
Animoca Brands is a Deloitte Tech Fast winner, Fortune Crypto 40 and Top 50 Blockchain Gaming Companies to Watch in 2024 , and is listed on the Financial Times Asia Pacific High Growth Companies 2023 list. A leader in the Web3 industry, Animoca Brands delivers digital property rights to consumers around the world through blockchain, helping to build the open metaverse. The company develops and publishes a diverse portfolio of original games such as Anichess, The Sandbox, PHANTOM GALAXIES™ and Crazy Defense Heroes, as well as licensed products from popular intellectual property from the sports and entertainment worlds such as The Walking Dead, Power Rangers, MotoGP™ and Formula E. One of Animoca Brands’ flagship projects is Mocaverse, a platform that helps consumers maximize their access to Web3 experiences and rewards through a single sign-on point.
Animoca Group owns several subsidiaries, including The Sandbox , Blowfish Studios , Quidd , GAMEE , nWay , Pixowl , Forj , Lympo , Animoca Brands Japan , Grease Monkey Games , Eden Games , Notre Game , TinyTap , SPORTPASS , PIXELYNX , WePlay Media , Gryfyn and Azarus . Animoca Group is one of the most active investors in the Web3 industry, with over 540 Web3 projects in its portfolio, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Magic Eden, OpenSea, Dapper Labs, Yield Guild Games and many more. For more information, please visit www.animocabrands.com or follow them on Twitter , YouTube , Instagram , LinkedIn , Facebook or TikTok .
