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Prominent metaverse investor and blockchain game publisher Animoca Brands has raised an additional $11.88 million for its metaverse project Mocaverse, the company announced Thursday. This second tranche of funding comes after Animoca garnered $20 million for Mocaverse in September.
With the additional capital, the Hong Kong-based firm has now raised $31.88 million to build out what’s described as a digital identity and loyalty platform for blockchain games and other apps. Animoca has launched 8,888 Ethereum NFTs profile pictures (PFPs) that serve as an entry pass into the Mocaverse.
Participants in the latest raise include blockchain investment firms Block1, OKX Ventures, Foresight Ventures, and Polygon Ventures, as well as NBA Top Shot maker Dapper Labs. Animoca issued the new shares at $4.50 apiece and granted utility token warrants to investors.
Mocaverse aims to serve as an "empowerment layer for Web3 culture and entertainment," said the company. The project will facilitate onboarding and growth for other Web3 platforms through features like digital identity profiles and loyalty points called Realm Points.
The ecosystem will initially encompass Animoca's investment portfolio of over 400 companies, with plans to expand to include other Web3 projects over time.
“It’s a way not just for us to connect with those who are closest to us, but more importantly for us to help facilitate connections between those in our ecosystem,” Animoca Brands CEO Robby Yung told Decrypt in September.
Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Andrew Hayward.