Animoca Brands, a leader in digital property rights within gaming and the emerging metaverse, revealed they’ve successfully secured $20 million to propel their flagship Mocaverse initiative. The company has released new ordinary shares valued at A$4.50 each through this capital injection. As a complementary gesture, investors in this round were also provided with a utility token warrant on a 1:1 dollar ratio.
CMCC Global spearheaded the latest funding campaign. Other key contributors included Kingsway Capital, Liberty City Ventures, GameFi Ventures, and well-established figures like Aleksander Larsen (Sky Mavis founder) and Gabby Dizon (Yield Guild Games founder). Yat Siu, Animoca Brands’ executive chairman and co-founder, also participated.
The fresh capital is set to enhance the Mocaverse project on multiple fronts. These enhancements will encompass product evolution, Web3 incorporation, and forging collaborations that would further diversify Animoca Brands’ extensive repository of 450 Web3 firm investments.
CMCC Global: A Beacon in the Web3 Space
With a reputation as one of Asia’s pioneering venture capital entities, CMCC Global has recognized and supported blockchain and Web3 ventures. They boast an impressive investment track record, having invested in giants like Ethereum, Solana, and Cosmos at their nascent stages. Their assets under management have surged past the US$500 million mark, reinforcing their position as a high-caliber investor.
Investment Details
For this round, Animoca Brands engaged in Simple Agreements for Future Equity (SAFEs) with several seasoned investors, raising about US$20 million or roughly A$31.3 million. These SAFEs will metamorphose into ordinary shares in six months, with the exact share count being influenced by the prevailing AUD:USD exchange rates at the settlement juncture. Participating investors were also extended a utility token warrant, paired with a 30-month vesting period.