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Home ยป Animoca Brands Secures $20 Million to Forge Digital IDs and Point System for Web3

Animoca Brands Secures $20 Million to Forge Digital IDs and Point System for Web3

Animoca Brands, a prominent player in the gaming and Web3 industry, has concluded a successful funding round aimed at propelling the development of its ambitious Mocaverse platform.

by Alexander
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Animoca Brands, a prominent player in the gaming and Web3 industry, has concluded a successful funding round aimed at propelling the development of its ambitious Mocaverse platform. This platform is envisioned to become a pivotal digital identity and point system for the thriving realms of Web3 encompassing gaming, culture, and entertainment. The article delves into the details of this funding round and the transformative potential of the Mocaverse project.

In a significant move, Animoca Brands has secured $20 million in funding to expedite the realization of its Mocaverse vision. This substantial financial injection underscores the company’s commitment to shaping the future of Web3.

The Mocaverse Vision

At its core, the Mocaverse project represents a paradigm shift, adopting a DAO-based approach that prioritizes community involvement. It aims to facilitate collaboration across the entire Animoca ecosystem and extend its services as “the digital identity, reputation, and loyalty system for other decentralized organizations.”

One of the flagship components of the Mocaverse is the creation of Moca ID. This unique digital identity will take the form of a non-transferable nonfungible token (NFT) collection. With Moca ID, users can establish a digital identity, accumulate reputation, and earn as well as spend loyalty points within the Web3 landscape.

Key Backers

The funding round was spearheaded by CMCC Global, a trailblazing VC investor in the blockchain domain, further solidifying its support for innovative Web3 initiatives. Additionally, notable figures like Aleksander Larsen (founder of Sky Mavis) and Gabby Dizon (founder of Yield Guild Games) joined the endeavor.

Moca ID will serve as the gateway to an expansive ecosystem comprising over 450 companies within Animoca’s portfolio. This ecosystem promises access to a vast network of more than 700 million user addresses, positioning the Mocaverse as a pivotal conduit to Web3 and metaverse ecosystems.

The Metaverse Resurgence

While the metaverse experienced a temporary dip in attention following the hype of 2022, it continues to hold immense promise in the digital realm. Recent events, such as Julian Assange’s metaverse political rally and collaborations like the British Museum partnering with the Sandbox, highlight the enduring potential for connection and innovation in this space.

Animoca Brands’ successful funding round marks a significant step towards realizing the Mocaverse’s transformative potential as a digital identity and point system for Web3. This initiative reaffirms the enduring relevance and opportunities presented by the metaverse and its integration into emerging technologies.

 

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