Another day, another funding announcement from Animoca Brands. Only this time around, they're the ones receiving the funding!

Specifically, Animoca has received $10M in funding from a number of prominent investors including OKX Ventures, CMCC Global, and Hong Shan (formerly Sequoia China), alongside Republic Crypto, Decima Fund, and Kingsway Capital. 

More about this Funding Round

This new funding round follows prior investments totaling $31.88 million, first disclosed in December 2023, and is aimed at accelerating web3 mass adoption and expanding Mocaverse’s interoperable infrastructure for crypto users. The investment includes a warrant for the MOCA Coin utility token, which reflects a fully diluted valuation (FDV) of $1 billion.

Animoca Brands is issuing Simple Agreements for Future Equity (SAFEs) as part of the $10 million fundraising. These SAFEs will convert into ordinary shares after six months, with the final number determined by the AUD exchange rate at settlement. Animoca Brands has also granted participating investors a token warrant for MOCA Coin, with a 30-month vesting schedule and a unit price of $0.113 per token, based on an FDV of $1 billion for the MOCA Coin. MOCA Coin is set to play a critical role within the Moca Network, acting as a utility token that powers various applications and incentivizes network engagement.

Investor Commentary

Jeff Ren from OKX Ventures expressed enthusiasm for Mocaverse, highlighting its potential in integrating various cultural economies within an interoperable infrastructure.

We are delighted to invest in Animoca Brands and Mocaverse, a  project that perfectly represents the vibrant ecosystem of Animoca Brands. By creating an interoperable infrastructure layer for consumer apps, Mocaverse integrates various cultural economies and maximizes 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.

Martin Baumann of CMCC Global also underscored Mocaverse’s potential in consumer blockchain applications. Citing Animoca Brands’ track record in blockchain innovation, he noted that CMCC Global views Mocaverse as a critical player poised to lead in consumer adoption within the blockchain space.

Ken Kitahara from Decima Fund shared his support for Mocaverse’s approach to organizing on-chain social graphs, expressing optimism about exploring new opportunities within the Japanese market.

Vision from Animoca Brands’ Leadership

Yat Siu, co-founder and executive chairman of Animoca Brands, emphasized Mocaverse’s commitment to advancing web3 interoperability and decentralized digital property rights. He acknowledged the strategic importance of this latest funding round and the role of key investors in supporting Mocaverse’s mission.

In addition, Kenneth Shek, project lead for Mocaverse, re-iterated the company’s mission to bring crypto to millions of users by targeting personal interests and specific fanbases. According to Shek, the Realm Network aims to decentralize onboarding efforts for early adopters, generating network effects across the entire ecosystem.

Mocaverse’s infrastructure layer includes the Realm SDK, an interoperable software development kit that allows partners to establish their own reputation-based ecosystems, compatible with the Moca Network. The SDK aims to create integrated user experiences across multiple applications.

Mocaverse’s Progress in 2024

Earlier this year Mocaverse launched the Realm SDK—a decentralized, on-chain identity system. SThe first use of this tool is the Moca ID, the main identity system in the Mocaverse that has seen over 1.79 million Moca IDs registered, along with more than 160 activations in partnership with entities like Pixels, BLOCKLORDS, Trust Wallet, and OKX Wallet. Through strategic alliances, Mocaverse continues to strengthen its infrastructure for consumer-driven crypto use cases.

New partnerships were also established to expand Mocaverse’s user base. In collaboration with Anime Foundation, MyAnimeList, and One Football, Mocaverse is set to bring Anime ID and Football ID to over 218 million monthly active users. Additionally, Mocaverse joined forces with TON Foundation, enabling cross-network integrations for Telegram’s extensive user base of over 900 million through social gaming, sports, and IP-related experiences.

Animoca Brands and the Mocaverse are a growing force in the world of web3 gaming, and expect to hear even more from them in 2025!

What is the Mocaverse?

The Mocaverse is the flagship product for Animoca Brands, designed as a comprehensive web3 platform to streamline users' entry into the web3 ecosystem. It provides a single login entry point through the Moca ID allowing users to access experiences and rewards within the Moca Network, built across Animoca's 540 portfolio companies. 

Through interoperable wallets, IDs, reputation, and point systems, Mocaverse simplifies onboarding and enables partners to co-create web3 applications. The platform's core product, the Realm SDK, supports decentralized onboarding for millions of users, making it easier for them to explore and engage with web3 technologies.

The primary NFTs for the Mocaverse are Mocas, unique, generative PFPs.