Animoca Brands has announced a fresh investment round of $10 million into its ambitious Mocaverse project. This new funding, which adds to the $31.88 million already raised last year, aims to foster greater consumer crypto adoption by developing an interoperable infrastructure technology stack.
OKX Ventures, CMCC Global, and Hong Shan, previously known as Sequoia China, are prominent contributors to this round.
The capital influx is earmarked for scaling the Mocaverse infrastructure, particularly focusing on the Account, Identity, and Reputation systems that form the backbone of consumer engagement in the crypto space.
Much of the funds will be channeled towards enhancing the Realm SDK, a software development kit that enables partners to craft reputation-based ecosystems fully interoperable with the Moca Network.
Yat Siu, the co-founder and executive chairman of Animoca Brands, said: “With Mocaverse and its Realm Network we are bringing the Web3 ethos of interoperability to life, driving decentralization and shared network effects across the broader Web3 ecosystem. The raise announced today features participation from esteemed and strategically important investors, and we are honored by this level of support as we work to advance digital property rights, interoperability, and the evolution of the Internet into more equitable decentralized systems.”
Recent collaborations have been established with entities such as Anime Foundation and MyAnimeList, aiming to integrate over 218 million monthly users into the Moca Network. Moreover, a pivotal alliance with the TON Foundation seeks to leverage Telegram Messenger’s vast user base, emphasizing Mocaverse’s commitment to expanding its digital identity solutions across various online platforms.
Alongside the equity funding, Animoca Brands has also issued utility token warrants linked to the MOCA Coin, which has an implied fully diluted value of $1 billion. These tokens come with a 30-month vesting period, illustrating a long-term investment in the project’s growth and sustainability.