SNEAK PEEK
- Animoca Brands Corporation Limited successfully raised $11.88 million in a second funding tranche for Mocaverse.
- Key participants in this funding round included Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, Dapper Labs, among others.
- The funding was achieved by issuing new ordinary shares priced at A$4.50 each, and investors received free-attaching utility token warrants on a 1:1 dollar basis.
Animoca Brands Corporation Limited has announced the successful completion of a second funding tranche for Mocaverse, raising $11.88 million. This comes after an initial investment of $20 million in September 2023.
We are pleased to announce that we have raised an additional US$11.88 million for @MocaverseNFT to build the digital identity and point system for #Web3 #gaming, culture, and entertainment.🎉 Full details: https://t.co/g4GXNp1NEB pic.twitter.com/yCt5wfmPET
— Animoca Brands (@animocabrands) December 8, 2023
Prominent participants in this funding round included Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, Dapper Labs, and others. The funding was raised by issuing new ordinary shares at a price per share of A$4.50. Notably, investors in each round were granted free-attaching utility token warrants on a 1:1 dollar basis.
Mocaverse is focused on establishing itself as the empowerment layer for Web3 culture and entertainment. It aims to facilitate seamless onboarding and sustained growth for Web3 projects through its loyalty system, the Web3 Frequent Player Program, powered by Mocaverse loyalty points known as “Realm Points.”
Mocaverse is set to serve as an interoperable meta-experience layer for Web3 identity, social interactions, and growth. Users can create their digital identity, build a reputation, and earn and spend Realm Points within the Mocaverse ecosystem. This ecosystem is supported by Animoca Brands’ extensive portfolio of over 400 companies and a partner network with more than 700 million addressable users.
The recently introduced Moca ID will play a pivotal role as a digital passport, allowing users to earn Realm Points through engagement within the Mocaverse ecosystem. These points can then be redeemed for exclusive real-life benefits and rewards offered by Mocaverse and Animoca Brands.
The Web3 Frequent Player Program is envisioned as a permissionless and interoperable loyalty system, with plans for progressive decentralization to enable third-party adoption and integration of Moca ID. This approach aims to enhance accessibility and foster growth within the broader Web3 ecosystem.
Animoca Brands is raising funds through Simple Agreements for Future Equity (SAFEs) with sophisticated investors, totaling $11.88 million at a share price of A$4.50. The SAFEs will automatically convert to ordinary shares after six months, with the number of new shares determined by the AUD: USD exchange rate at settlement. Currently, Animoca Brands has 1,910,074,127 outstanding fully paid ordinary shares.
This additional funding for Mocaverse marks a significant step in advancing the vision of Web3 culture and entertainment empowerment. Mocaverse’s innovative approach and the support from prominent investors underscore its potential to reshape the Web3 landscape.
