Animoca Brands Corporation Limited has secured a robust investment of $20 million to accelerate the development of its ambitious Mocaverse project. This endeavor, visualized as a cornerstone for Web3 gaming, culture, and entertainment, is poised to revolutionize the digital property rights and open metaverse spheres by offering a decentralized platform that fosters innovation and collaboration.
Mocaverse is the membership NFT collection for Animoca Brands’ family of companies, projects, investments, shareholders, and partners. This collection will represent our values surrounding Web3 and digital property rights, as well as our one-of-a-kind ecosystem.
- Details of the $20 million funding round led by CMCC Global
- The vision and capabilities of the Mocaverse project
- Introduction of Moca ID and its potential in enhancing Web3 accessibility
- Management commentary by Yat Siu and Martin Baumann
- Structural information about the fundraise and investor benefits
Investment Overview
Embarking on a new venture, Animoca Brands announced a funding round to fast-track the Mocaverse project, its flagship initiative. The company managed to raise approximately $20 million or A$31.3 million through the issuance of new ordinary shares priced at A$4.50 each. Alongside this, investors received free-attaching utility token warrants at a 1:1 dollar ratio, showcasing the company’s commitment to rewarding stakeholder engagement and participation.
Participating Investors
The funding round witnessed contributions from a diverse group of investors including CMCC Global, Kingsway Capital, Liberty City Ventures, and others. Notable individual investors such as Aleksander Larsen and Gabby Dizon also marked their participation. Yat Siu, the executive chairman and co-founder of Animoca Brands, was a significant participant in this round, indicating strong internal belief and commitment towards the project’s potential success.
Project Potential and Expansion
The acquired capital will facilitate the enhancement of the Mocaverse project, focusing on product development, fostering Web3 adoption, and securing pivotal partnerships. This effort is directed towards expanding the extensive ecosystem that encompasses Animoca Brands’ 450 investments in various Web3 companies and projects, creating a comprehensive network that caters to gaming, culture, and entertainment verticals.
Mocaverse’s Technological Innovations
As a forefront runner in the industry, Mocaverse is working on developing Web3-native tooling that empowers products across different domains. Users will have the privilege to craft their digital identities, earn loyalty points, and immerse themselves in an ecosystem that accommodates over 700 million users. The soon-to-be-launched Moca ID, a non-transferrable NFT collection, will serve as a passport for users to engage actively and enjoy exclusive experiences within the Mocaverse ecosystem.
Leadership Insights
Reflecting on this development, Yat Siu highlighted the revolutionary shift from hierarchical to autonomous structures that the internet is witnessing. He praised the decentralized approach of Mocaverse that promises to foster innovation and collaboration. Martin Baumann of CMCC Global echoed similar sentiments, expressing excitement over the potential of Mocaverse to unify the vast portfolio of companies under Animoca Brands and usher millions of new users into the Web3 and metaverse realms.
Fundraising Specifics
The fundraising process saw Animoca Brands issuing Simple Agreements for Future Equity (SAFEs) with various investors, pegged at a total value of around $20 million. These SAFEs are slated to automatically convert to ordinary shares after a span of six months, with the exact number being determined by the prevalent AUD:USD exchange rate at the time of settlement. Furthermore, the company issued free-attaching utility token warrants at a nominal price, featuring a 30-month vesting schedule, to participating investors.
Conclusion: Stepping into the Future
In this decisive moment, Animoca Brands stands at the cusp of pioneering a new era in Web3 gaming and digital entertainment. The Mocaverse project, backed by strong financial support and a visionary approach, holds the promise of redefining the digital landscape. As users anticipate the launch of Moca ID and other groundbreaking features, it becomes apparent that this initiative marks a significant stride in enhancing the accessibility and growth of Web3, setting the stage for a decentralized, collaborative, and economically fruitful digital ecosystem.
