As a seasoned crypto investor who has weathered numerous market cycles and witnessed the rise and fall of various projects, I must admit that the latest news about Animoca Brands’ fundraising for Mocaverse piqued my interest significantly. The fact that this Hong Kong-based firm has managed to secure $10 million from prominent investors, including OKX Ventures and CMCC Global, speaks volumes about its credibility in the crypto space.
Animoca Brands, a company based in Hong Kong, has secured an extra $10 million investment to speed up the creation of its web3 platform called Mocaverse.
A company called Animoca Brands, headquartered in Hong Kong and famous for its investments in non-fungible tokens (NFTs) and web3 games, has secured an extra $10 million for Mocaverse, a set of 8,888 distinct NFT membership tokens.
A significant investment of $41.8 million was recently made, with this being part of a larger fundraising effort. Notable investors such as OKX Ventures, CMCC Global, HongShan, Republic Crypto, and Kingsway Capital were involved in this round, as stated in a press release from November 12th. Additionally, this investment comes with an option for the MOCA Coin utility token that can be exercised at a fully diluted value of $1 billion, following a similar structure used in previous funding rounds, according to the press release.
Animoca Brands seeks to bring crypto to millions
According to Animoca Brands, these proceedings will aid in moving forward with their objective to quickly promote the widespread use of web3 technology and its seamless integration, primarily by expanding and enhancing Mocaverse. Animoca Brands’ co-founder Yat Siu is excited about the project’s development, highlighting that this platform has the potential to embody the web3 principle of interoperability in reality, fostering decentralization and creating a network effect across the broader web3 community.
Today’s announcement includes investment from highly respected and crucial figures, and we’re grateful for their backing as we strive to progress digital ownership rights, compatibility, and the development of a fairer, decentralized future for the internet.
Yat Siu
Regarding the recent funding, Kenneth Shek, head of Mocaverse, expressed that their goal is to make cryptocurrency accessible to hundreds of millions of people. To achieve this, they aim to attract user bases that resonate with individuals on a very personal and emotional level.
Animoca Brands provided investors with agreements that would grant them equity (a share in ownership) at A$4.50 per share. These shares will convert into actual shares after six months, depending on exchange rates. Additionally, investors received a warrant to purchase MOCA tokens, priced at $0.113 each. However, these tokens can only be acquired starting from the 30-month mark following the agreement. This information is detailed in a recent press release.
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2024-11-12 16:04