Hong Kong-based crypto gaming firm Animoca Brands has raised an impressive $31.88 million in funding over two rounds to power the growth of Mocaverse, its highly ambitious metaverse initiative. This includes a recent $11.88 million tranche from investors like Dapper Labs, Polygon Ventures, and Foresight Ventures who are betting on the transformative vision.
Keypoints
- Animoca Brands has raised $31.88 million total for its Mocaverse metaverse project, including a new $11.88 million tranche
- Mocaverse aims to be an “empowerment layer for Web3 culture and entertainment” via digital identities and loyalty points
- The ecosystem will initially include Animoca’s portfolio of 400+ companies, with plans to expand to more Web3 projects
- Mocaverse recently partnered with blockchain game Pixels to integrate rewards and exclusives into its platform
- Over 41,000 Moca IDs have been minted already for access to the metaverse and loyalty program
Described by Animoca as the “cornerstone for web3 culture and entertainment,” Mocaverse aims to serve as an open and permissionless empowerment layer that supercharges engagement, growth, and rewards for users across a myriad of blockchain-based games, apps, platforms and more.
Central to this sprawling ecosystem is the web3 Frequent Player Program and the introduction of loyalty points known as Realm Points. By obtaining a Moca ID digital identity, users can seamlessly engage across the 400+ companies in Animoca’s portfolio and earn Realm Points for participation, which can then be exchanged for real-world rewards and exclusives.
The recent integration with hit blockchain game Pixels represents the expansive potential in connecting platforms via Mocaverse. Pixels users can now access special pets, avatars, boosts when linking their account to Mocaverse and partaking in collaborative quests, with much more slated to come.
With over 41,000 Moca IDs already claimed, users are clearly excited by the prospect of interoperable loyalty perks that transcend individual walled gardens in the blockchain gaming space. And by progressive decentralization of the loyalty and identity constructs over time, Mocaverse aims to spur adoption across hundreds of Web3 apps to bootstrap the next generation of users.
“We’re creating an ecosystem where users can easily onboard into Web3, establish their identities, build reputation, and be rewarded for their participation,” said Animoca co-founder and executive chairman Yat Siu. “It’s a completely new way of thinking about how we interact in virtual worlds.”
The additional influx of funding will spur more collaborations like Pixels while expanding the digital identity and loyalty offerings. And the investor mix provides both deep gaming expertise via outfits like Dapper Labs as well as blockchain infrastructure support from Polygon to help scale Mocaverse to its lofty goals.
If Animoca can rally its network of partners around this interoperable meta-layer while enticing new platforms into the ecosystem, Mocaverse has the potential to redefine community loyalty to bootstrap the open metaverse. Judging by progress so far Animoca may soon make its ambitious Mocaverse vision an empowering reality across Web3.
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