Animoca Brands raises US$10m to advance flagship Mocaverse Web3 platform

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Animoca Brands raises additional US$10 million for its flagship Mocaverse project Investors include OKX Ventures, CMCC Global, HongShan, Republic Crypto, Decima Fund, Kingsway Capital, and others The ...

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Investors include OKX Ventures, CMCC Global, HongShan, Republic Crypto, Decima Fund, Kingsway Capital, and others. The latest capital raise is set to fast track and scale the project’s operations. Follows US$31.88m raised last year to build out tech stack. ‘Esteemed’ and strategically important investors participated","collect":0,"end_time":0,"defaultTopTitle":"stockhead.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"80883":"中国海洋石油-R","LU1497733631.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund ASDM SGD","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU1497734951.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund ASDM SGD-H","LU1226287792.SGD":"UBS (LUX) KEY SEL S-CHINA ALLOCATION OPP \"P\" (SGDHDG) INC","00941":"中国移动","LU1226287875.USD":"UBS (LUX) KEY SEL S-CHINA ALLOCATION OPP \"PM\" (USD) INC","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","LU1226288253.USD":"UBS (LUX) KEY SELECTION SICAV - CHINA ALLOCATION  OPPORTUNITY (USD) \"P\" (USD) INC","LU1522347837.USD":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC A","FDV":"FEDERATED HERMES U.S. STRATEGIC DIVIDEND ETF","BK1589":"北水核心资产","SG9999002463.SGD":"LionGlobal China Growth SGD","LU1226288170.HKD":"UBS (LUX) KEY SEL S-CHINA ALLOCATION OPP \"P6%\"(HK D) INC","LU1634259391.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund AS SGD","LU1634259557.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund AS SGD-H","BK1506":"5G概念","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","BK1536":"电信股","BK1152":"无线电信业务","LU1481107354.HKD":"HSBC GIF HONG KONG EQUITY \"AD\" (HKD) INC","LU1226287529.USD":"UBS (LUX) KEY SELECTION SICAV - CHINA ALLOCATION  OPPORTUNITY (USD) \"P\" (USD) ACC","LU0149721374.USD":"HSBC GIF HONG KONG EQUITY \"AD\" INC","LU1497733557.USD":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) INC A","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","LU0164880469.USD":"HSBC GIF HONG KONG EQUITY \"AC\" ACC","BK1521":"挪威政府全球养老基金持仓","BK1610":"ETF&股票定投概念","LU1951186391.HKD":"UBS (LUX) KEY SEL CHINA ALLOCATION OPPORTUNITY (US \"P\" (HKD) INC"},"translate_title":"Animoca Brands筹集1000万美元推进旗舰Mocaverse Web3平台","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"80883":0.6,"FDV":1,"00941":0.79},"content_text":"Animoca Brands raises additional US$10 million for its flagship Mocaverse project\nInvestors include OKX Ventures, CMCC Global, HongShan, Republic Crypto, Decima Fund, Kingsway Capital, and others\nThe latest capital raise is set to fast track and scale the project’s operations \nFollows US$31.88m raised last year to build out tech stack\n‘Esteemed’ and strategically important investors participated \nSpecial Report: Hong Kong-based Animoca Brands has announced an additional tranche of US$10m funding to advance its flagship Mocaverse web3 platform. The latest investment follows previous investments totalling US$31.88m announced last year for Mocaverse, established to leverage Animoca Brands’ expansive ecosystem of subsidiaries, projects, portfolio companies, and partners.Animoca Brands’ objective for the Mocaverse is to build the largest web3 gaming/metaverse publishing platform.Put simply, the idea is for participants to be able to access web3 games and take part in other on-chain activities to earn Realm Points and incentives provided by partners.Read Stockhead’s recent interview with Animoca Brands founder Yat Siu to learn more about the Mocaverse and how it could literally change the game(s) >‘Reputation is currency’: Animoca Brands’ Yat Siu on the future of our digital identitiesAnimoca Brands said the capital raise involved issuing simple agreements for future equity (SAFEs) with various sophisticated and professional investors to raise US$10m (~A$15.4m) at  A$4.50 per share.The SAFEs will be converted to ordinary shares after six months. The company said the number of new shares to be issued would be determined by the Australian-US exchange rate at the time of settlement.Animoca Brands’ number of current outstanding fully paid ordinary shares is 1,923,933,217.As part of the raise, the company has granted participating investors a free-attaching utility token warrant on a 1:1 dollar basis with a 30-month vesting schedule, priced at US$0.113 per token based on a fully diluted value (FDV) for MOCA Coin of US$1bn.OKX Ventures, CMCC Global, HongShan (formerly Sequoia China), Republic Crypto, Decima Fund, Kingsway Capital and others participated in the latest funding tranche.Funding to fast-track and scale Mocaverse operationsAnimoca Brands said the latest capital raise would fast track and scale the Mocaverse operations with the aim of boosting the project’s already considerable growth since its initial fundraising.The company also noted that raised funds would also advance its broader goal of accelerating web3 mass adoption and interoperability – specifically by continuing to scale and build Mocaverse’s interoperable infrastructure layer of account, identity and reputation systems for consumer crypto adoption.This includes the platform’s Realm SDK, the interoperable software development kit (SDK).Earlier this year, Mocaverse launched Moca ID, the pilot on-chain identity system of Realm SDK. Since launch, more than 1.79m Moca IDs have been registered and more than 160 web3 activations have been launched with partners that include Pixels, Blocklords, Trust Wallet, OKX Wallet and various others.Animoca Brands said Mocaverse would continue to expand the Moca Network and drive consumer crypto adoption by integrating large, user-base ecosystems via partnerships with major companies and communities.Mocaverse poised to join industry-defining playersCMCC Global co-founder and managing partner Martin Baumann said Animoca Brands was the innovation leader in Asia when it comes to blockchain-empowered consumer applications.“Yat Siu and his team have an unmatched track record of building globally recognised leading blockchain and metaverse applications such as games, platforms, NFT-related apps, and more.“At CMCC Global, we have identified and invested at seed stage in many of the leading blockchain infrastructure protocols such as Solana, Cosmos, Ethereum and others.”Bauman foresees the next big wave in blockchain to be centred around consumer and mass market adoption with Animoca Brands’ Mocaverse poised to join those industry-defining players.“That is why Mocaverse has become CMCC Global’s largest investment to date,” he said.OKX Ventures partner Jeff Ren said by creating an interoperable infrastructure layer for consumer apps, Mocaverse integrated various cultural economies and maximises network effects.“This investment signals our enthusiasm and determination to promote the development of the web3 world,” said Ren.Decima Fund general partner Ken Kitahara added: “We are proud to back Yat, Animoca Brands and the Mocaverse team on their journey to bring clarity to onchain social graphs and activity and look forward to exploring unique Japanese opportunities for Mocaverse.”Getting crypto in the hands of hundreds of millions of usersAnimoca Brands co-founder and executive chairman Yat Siu said with Mocaverse and its Realm Network the company was bringing the web3 ethos of interoperability to life, driving decentralisation and shared network effects across the broader Web3 ecosystem.“The raise announced today features participation from esteemed and strategically important investors, and we are honoured by this level of support as we work to advance digital property rights, interoperability, and the evolution of the Internet into more equitable decentralised systems,” he said.This article was developed in collaboration with Animoca Brands, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. 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