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Web3

Animoca Brands Raises $20M for Metaverse Project Mocaverse

The investment was led by CMCC Global and included contributions from Kingsway Capital, Liberty City Ventures and GameFi Ventures.

By Jamie Crawley
AccessTimeIconSep 11, 2023 at 8:53 a.m. UTC
Updated Sep 18, 2023 at 3:21 p.m. UTC
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Animoca Brands, a metaverse and gaming venture capital firm, has raised $20 million to advance its Mocaverse project from a group of other prominent Web3 investors.

The investment was led by CMCC Global and included contributions from Kingsway Capital, Liberty City Ventures and GameFi Ventures, the Hong Kong-based company said Monday. Animoca co-founder Yat Siu also participated in a personal capacity.

Animoca Brands has been one of the leading investors in NFTs, blockchain gaming and metaverse-related companies in recent years, with backing from the likes of Singapore's state investment fund, Temasek. Animoca's aim is for Mocaverse to provide Web3-native tools for users to build gaming and other entertainment products. One such product under development is Moca ID, a non-fungible token (NFT) collection designed to allow users to craft on-chain identities in order to participate in the Mocaverse ecosystem.

The capital was raised through the sale of Simple Agreements for Future Equity (SAFEs) for about A$4.50 ($2.90) each, which will be automatically converted into ordinary shares after six months.

Read More: It’s Game On for Web3: How Gaming Will Onboard a Billion People

Edited by Sheldon Reback.


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Jamie Crawley
Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

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