Animoca Brands, a gaming and Web3 company, has successfully closed a funding round to further develop its Mocaverse platform. The company raised $20 million with the aim of creating the “Mocaverse” project as a central identity and point system for Web3 gaming, culture, and entertainment. By adopting a DAO-based approach, Animoca Brands prioritizes community collaboration across its ecosystem and intends for the Mocaverse to function as a digital identity, reputation, and loyalty system for decentralized organizations.
One of the key elements of the Mocaverse project is Moca ID, a nonfungible token (NFT) collection that takes the form of a non-transferable digital identity. With Moca ID, users will have the ability to establish their digital identities, earn and spend loyalty points, and accumulate reputation within the platform.
The funding round was led by CMCC Global, an early and prominent venture capital investor in the blockchain space in Asia. Other participants included Aleksander Larsen, the founder of Sky Mavis, and Gabby Dizon, the founder of Yield Guild Games. The success of this funding round is expected to provide access to a vast network of over 700 million user addresses within Animoca’s portfolio, which encompasses more than 450 companies.
Martin Baumann, co-founder of CMCC Global, emphasized the project’s potential to bring together the various companies under the Animoca Brands umbrella and serve as a gateway for millions of new users to access Web3 and metaverse ecosystems.
While the metaverse experienced a decline in attention in recent years, it still holds promise for digital connectivity. Julian Assange, the founder of Wikileaks, organized a political rally in the metaverse to protest his extradition, demonstrating the platform’s potential for activism. Additionally, collaborations such as the partnership between the British Museum and the Sandbox underscore the emergence of art and historical experiences within the digital realm.
Animoca Brands was contacted for more information regarding its plans for digital IDs in Web3, highlighting the company’s commitment to further developing this aspect of the Mocaverse project.
Overall, the closure of this funding round signifies an important step forward for Animoca Brands as it continues to pioneer innovation in Web3 gaming and cultivate a vibrant ecosystem for decentralized organizations.
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