Animoca Brands raises $10m to expand metaverse platform Mocaverse

Animoca Brands has raised an additional $10 million for its open metaverse platform Mocaverse. 

The company is building out what it calls an interoperable infrastructure tech stack for consumer crypto adoption. This includes scaling its Account, Identity and Reputation systems that will work across web3 networks.

This latest investment follows previous funding totalling $31.88 million. The current round includes participation from OKX Ventures, CMCC Global, HongShan (formerly Sequoia China), Republic Crypto, Decima Fund, Kingsway Capital and others. 

Building a broader ecosystem 

“With Mocaverse and its Realm Network we are bringing the Web3 ethos of interoperability to life, driving decentralisation and shared network effects across the broader Web3 ecosystem,” said Animoca Brands co-founder and executive chairman Yat Siu. 

“The raise announced today features participation from esteemed and strategically important investors, and we are honoured by this level of support as we work to advance digital property rights, interoperability, and the evolution of the Internet into more equitable decentralised systems.”

Mocaverse’s project lead Kenneth Shek added: “Our mission is to get crypto in the hands of hundreds of millions of users, which requires onboarding the fan bases that appeal to individuals on a deeply personal level.”

“We are building Realm Network to decentralise such onboarding efforts for each pioneer in the consumer crypto space across multiple verticals, with the ultimate goal of driving network effect among all of them.”