Hong Kong-based entertainment company Animoca Brands has announced a successful funding round, raising $20 million for its latest venture, Mocaverse.

Mocaverse is a Web3 platform that harnesses blockchain, NFTs, and AI technologies for the gaming, culture, and entertainment industries.

Backed by Leading Investors

CMCC Global, a venture capital firm focused on blockchain and Web3 investments, led the funding round. Several prominent investors in the Web3 space, including Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (co-founder of Sky Mavis), and Gabby Dizon (co-founder of Yield Guild Games), also participated.

Immersive Experiences and Ownership

Mocaverse will offer users immersive experiences, including games, NFTs, VR, and social media. Users can own and trade their digital assets and characters on the blockchain.

Funding Allocation

The $20 million funding will be used to develop and launch the Mocaverse platform, establish strategic partnerships, and expand Animoca Brands’ presence in the global Web3 market.

Animoca Brands’ Recent Developments

Animoca Brands, headquartered in Hong Kong with a global presence, specializes in blockchain, gamification, and AI technologies. The company has a diverse portfolio of products and services catering to various digital entertainment market segments. Animoca Brands has been integrating blockchain into its games since 2018, enabling users to have ownership of in-game items and characters.

The company has also collaborated with numerous brands and intellectual properties to create collectible NFTs, including Formula 1, MotoGP, Marvel Comics, Atari, Manchester City FC, Bayern Munich FC, Dapper Labs (CryptoKitties), and more.