Animoca Brands Secures $10M Funding for Mocaverse Expansion
Deal News | Nov 12, 2024 | Raptor Capital Management LP
Animoca Brands, a leader in advancing digital property rights for the open metaverse, has announced a new funding tranche to the tune of $10 million for its Mocaverse project. This funding is aimed at creating an interoperable infrastructure tech stack to drive consumer crypto adoption. Major investors include OKX Ventures, CMCC Global, and Hong Shan, with the funds being channeled into building out the Mocaverse’s Realm SDK and scaling its operations. The investment comes with free-attaching warrants for the MOCA Coin utility token, representing a fully diluted value of $1 billion. The funding will also focus on mass Web3 adoption, with Animoca Brands continuing to partner with significant communities such as MyAnimeList and One Football. Commentary from investors underscores the promising future of Mocaverse in leading Web3 innovation and integration of cultural economies. Animoca Brands has structured the funding as an issuance of Simple Agreements for Future Equity (SAFEs), with shares issued upon settlement determined by forex rates. The investment marks ongoing substantial growth and optimism around Mocaverse’s ability to revolutionize consumer crypto engagement and infrastructure.
Sectors
- Cryptocurrency
- Blockchain
- Venture Capital
Geography
- Global – Animoca Brands and its Mocaverse project have worldwide reach, partnering with global companies and communities.
- Asia – Significant commentary from Asian investors and the mention of mutual collaboration with CMCC Global underline the company's influence in this region.
Industry
- Cryptocurrency – The article discusses Animoca Brands' efforts in developing digital property rights and crypto adoption through its Mocaverse project.
- Blockchain – The focus on blockchain technology is evident with the integration of Web3 applications, digital identity systems, and strategic partnerships to expand user base ecosystems.
- Venture Capital – Funding involvement from venture capital partners such as OKX Ventures and CMCC Global is crucial to the expansion efforts of Mocaverse, showcasing the industry's role in fostering tech innovation.
Financials
- 10,000,000 USD – Capital raised in the current funding tranche for Mocaverse.
- 1,000,000,000 USD – Fully diluted value (FDV) of the MOCA Coin indicated by the warrant structure.
- 4.50 AUD per share – The share price for the SAFEs issued to investors during the capital raise.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Animoca Brands Corporation Limited | Target Company | Company | The primary entity advancing digital property rights and interoperable infrastructure through Mocaverse. |
| OKX Ventures | Investor | Company | One of the main investors participating in the funding round for the Mocaverse project. |
| CMCC Global | Investor | Company | Venture capital firm investing in Animoca Brands, known for supporting blockchain infrastructure projects. |
| HongShan (formerly Sequoia China) | Investor | Company | A venture capital firm that engaged in the funding, demonstrating interest in blockchain innovations. |
| Raptor Capital Management LP | PE Firm | Company | Private equity firm associated with this funding news, although not directly investing. |
| Yat Siu | Co-founder and Executive Chairman of Animoca Brands | Person | Leading figure behind Animoca Brands and its initiatives. |