Animoca Brands, which promotes digital property rights for the open metaverse, secured another $10 million to fund its Mocaverse project.
Last year, Animoca raised $31.88 million to develop cryptocurrency options for consumers. The total funding for Mocaverse is now over $40 million.
The latest tranche of funding includes participation from high-profile investors such as OKX Ventures, CMCC Global, HongShan (formerly Sequoia China), Republic Crypto, Decima Fund, and Kingsway Capital.
The funding also includes a warrant for MOCA Coin, the project’s native utility token, which is pegged at an implied fully diluted value (FDV) of $1 billion. The structure mirrors previous investment rounds, reinforcing a strong trajectory for Mocaverse’s long-term growth.
Advancing Web3 Interoperability with Mocaverse
Animoca Brands plans to use this new capital to accelerate Mocaverse’s mission of driving interoperability within Web3 ecosystems. The project aims to grow its infrastructure, including the Realm SDK, which is a software development kit that lets partners build reputation-based ecosystems that work together on the Moca Network.
This will let many different consumer applications, including gaming and social platforms, connect together.
Mocaverse also launched Moca ID earlier this year. This product is an on-chain decentralized identifier (DID) that is important to the Realm SDK. Moca ID has over 1.79 million IDs registered and over 160 Web3 integrations. It also includes work with leading brands like Pixels, BLOCKLORDS, and OKX Wallet.
What Investors and Animoca Leadership Say
Notably, investors have expressed strong support for Mocaverse’s vision. Jeff Ren of OKX Ventures highlighted the project’s ability to integrate diverse cultural economies into a cohesive Web3 infrastructure, calling Mocaverse a key example of Animoca’s commitment to building an interconnected ecosystem.
Martin Baumann from CMCC Global praised Mocaverse’s potential to drive consumer adoption, noting Animoca’s track record in blockchain innovation.
Animoca’s Yat Siu said that Mocaverse is the foundation for the future of the decentralized internet. Kenneth Shek, who leads the Mocaverse project, stated that Mocaverse aims to give millions of people access to crypto by improving the onboarding process and working with global fan communities.
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