Animoca Brands secures $10 million for Mocaverse, accelerating Web3 adoption with key partnerships and interoperable infrastructure for crypto ecosystems.
Animoca Brands has secured an additional US$10 million for Mocaverse, furthering its mission to accelerate Web3 adoption. This funding adds to last year’s US$31.88 million, bringing Mocaverse’s total backing to almost US$42 million. The funds will be used to scale operations and build infrastructure that supports consumer crypto adoption.
The round includes participation from notable investors. These include CMCC Global, OKX Ventures, HongShan, Republic Crypto, Decima Fund, and Kingsway Capital. The investment structure is similar to prior rounds, which include a free attaching warrant in the MOCA utility token, the MOCA Coin, with an implied FDV of one billion US dollars.
The new funding will go towards Mocaverse’s tech, especially the Realm SDK. This software allows partners to build interoperable reputation-based ecosystems across applications, increasing crypto exposure. Additionally, the Moca ID of the Realm system, which is a decentralized identity tool, has already attracted more than 1.79 million users.
Mocaverse Expands Web3 Ecosystem with Key Partnerships
Mocaverse is centred around providing Web3 infrastructure for identity and reputation systems. To enrich its ecosystem, it has reached more than 160 Web3 projects, such as Trust Wallet and OKX Wallet. It recently signed anime platforms and One Football as new partners, where it can get up to 218 million monthly active users.
Such partnerships do not stop at the above, and Mocaverse has a partnership with TON Foundation to leverage the Telegram user base of 900 million. These efforts are part of greater efforts to apply Web3 across various industries. As a result, it will create greater technology adoption among users.
There is significant goodwill among investors regarding Mocaverse’s prospects. Jeff Ren from OKX Ventures also pointed out that the project was building network effects where the various cultural economies are connected. Mocaverse was described as one of the most promising projects in consumer blockchain adoption by Martin Baumann of CMCC Global. Further, he added that Animoca has positioned this project as one of its leaders.
Yat Siu from Animoca, the founder, was keen to point out that Mocaverse was built for interoperability and decentralization. It will also assist in catalyzing the creation of an open internet where user data is self-owned, he pointed out.
With this investment, Mocaverse plans to expand and support Animoca’s mission of building a more open and decentralised Web3 future.
