Animoca Brands Secures $20 Million for Mocaverse, A Web3-Native Gaming Tool Platform
In the initial funding round for Mocaverse, a prominent project focused on creating Web3-native tools for enhancing products in gaming and entertainment, Animoca secured $20 million in investment led by CMCC Global.
In a press release dated September 11, Animoca Brands announced that it has successfully raised a total of $20 million (approximately A$31.3 million) by issuing new ordinary shares for A$4.50 each.
These ordinary shares, also known as Simple Agreements for Future Equity (SAFEs), will automatically convert to ordinary shares after six months, with the number of new shares to be issued being determined by the AUD: USD exchange rate at the time of settlement.
As of now, the company has 1,910,074,127 outstanding fully paid ordinary shares. As part of this fundraising effort, the company has granted participating investors a utility token warrant, obtainable at a nominal price on a 1:1 dollar basis, with a vesting schedule spanning 30 months.
Martin Baumann, the co-founder of CMCC Global, said:
"Having built a long-term relationship with Animoca Brands, we are thrilled to be leading this first round of funding into Mocaverse."
Other participants in this funding round include Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (founder of Sky Mavis), Gabby Dizon (founder of Yield Guild Games), as well as institutional investors from Koda Capital, among others.
Additionally, Yat Siu, the executive chairman and co-founder of Animoca Brands, is actively involved in this round.
Yat Siu commented:
"We are deeply honored by investors' support for Animoca Brands and its vision of decentralization. The ongoing evolution of the Internet involves a shift from hierarchical power structures to autonomous ones,
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