A handful of other illustrious Web3 investors contributed $20 million to Animoca Brands, a metaverse and gaming venture finance firm, to help promote its Mocaverse project.Kingsway Capital, Liberty City Ventures, and GameFi Ventures also contributed to the investment, which was led by CMCC Global, according to a statement released on Monday by the Hong Kong-based firm. Yat Siu, the other co-founder of Animoca, took part in it for himself.
In recent years, Animoca Brands has been one of the top investors in NFTs, blockchain games, and metaverse-related businesses, with support from organizations like Singapore’s Temasek state investment fund.The goal of Animoca is for Mocaverse to offer users Web3-native tools so they may create games and other forms of entertainment. Moca ID, a non-fungible token (NFT) collection created to enable users to create on-chain IDs in order to engage in the Mocaverse ecosystem, is one such product currently under development.
Simple Agreements for Future Equity (SAFEs), which will automatically convert into common shares after six months, were sold to raise the cash. Each SAFE cost approximately A$4.50 ($2.90).