Animoca Brands Corporation Ltd has followed up last year’s US$31.88 million raise with an additional tranche of US$10 million, to “build out the interoperable infrastructure tech stack for consumer crypto adoption with large user base ecosystems”.
The investment comes with a free-attaching warrant for the MOCA Coin utility token at an implied fully diluted value (FDV) of US$1 billion, in a structure that mirrors the two tranches announced previously.
OKX Ventures, CMCC Global, HongShan (formerly Sequoia China), Republic Crypto, Decima Fund and Kingsway Capital were among the participants in the funding tranche.
Decentralisation and interoperability
“With Mocaverse and its Realm Network we are bringing the Web3 ethos of interoperability to life, driving decentralisation and shared network effects across the broader Web3 ecosystem,” Animoca Brands co-founder and executive chair Yat Sui said.
“The raise announced today features participation from esteemed and strategically important investors, and we are honoured by this level of support as we work to advance digital property rights, interoperability and the evolution of the Internet into more equitable decentralised systems.”
The funding will go to accelerating Web3 adoption and interoperability centred on the Mocaverse as well as the interoperable infrastructure layer of Account, Identity and Reputation systems for consumer crypto adoption.
“We are delighted to invest in Animoca Brands and Mocaverse, a project that perfectly represents the vibrant ecosystem of Animoca Brands,” CMCC Global managing partner and co-founder Martin Baumann said.
“By creating an interoperable infrastructure layer for consumer apps, Mocaverse integrates various cultural economies and maximises network effects.
“At the same time, we are also thrilled to have established a strategic partnership with OKX Wallet, Mocaverse, and X Layer to jointly explore new solutions in the Web3 space.
“This investment signals our enthusiasm and determination to promote the development of the Web3 world."