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Category: Animoca

Mocaverse Raises $20M to Boost Decentralized Identity Solutions in Animoca Brands Ecosystem

Mocaverse, a flagship product of Animoca Brands Corporation Limited, has successfully raised $20 million in a fundraising round led by CMCC Global, a prominent venture capital firm specializing in blockchain and Web3 investments. Other notable investors include Kingsway Capital, Liberty City Ventures, GameFi Ventures, Aleksander Larsen (founder of Sky Mavis), Gabby Dizon (founder of Yield Guild Games), institutional investors of Koda Capital, and Yat Siu, executive chairman of Animoca Brands.

This funding will be instrumental in advancing the Mocaverse project, which plays a pivotal role in the broader Animoca Brands web3 ecosystem. Mocaverse aims to provide users with a decentralized identity solution, allowing them to participate actively in Web3 and the blockchain ecosystem, enhancing shared network effects. The project includes the issuance of Moca ID, a set of non-fungible tokens (NFTs), enabling users to create unique blockchain credentials and earn loyalty points within the Mocaverse platform.

The funds raised will support the development of Mocaverse products, the expansion of partnerships, and the growth of Animoca Brands’ extensive portfolio of over 450 investments in Web3 companies and projects. These investments and partnerships are integral to seeding the Mocaverse ecosystem, offering users opportunities to build online identities, earn rewards, and engage with the platform’s offerings.

CMCC Global’s involvement in the funding round adds credibility to the project, given its track record of early investments in successful blockchain projects like Ethereum, Solana, and Cosmos. Animoca Brands, a leader in digital entertainment, blockchain technology, and gamification, is committed to advancing the open metaverse and protecting digital property rights. The company has a strong track record of creating games based on licensed properties from brands like Disney, WWE, Snoop Dogg, and more.

In summary, the successful fundraising for Mocaverse, supported by Animoca Brands and led by CMCC Global, will fuel the expansion of this essential component of the web3 gaming ecosystem. As Animoca Brands continues to invest in and promote web3 culture and entertainment, Mocaverse is poised to play a vital role in shaping the future of Web3 and decentralized identity solutions.

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FAQ:

  1. NFT Games (Non-Fungible Token Games): NFT games are video games that integrate non-fungible tokens, unique digital assets that are stored on a blockchain. These tokens represent ownership and authenticity of in-game items, characters, or other assets. Players can buy, sell, and trade these NFTs, bringing a new dimension of ownership and value to the gaming experience.

  2. Play-to-Earn Games (P2E Games): Play-to-earn games are a genre where players can earn real-world value through in-game activities. This can include earning cryptocurrency, NFTs, or other digital assets by achieving specific milestones, completing tasks, or participating in the game’s economy. Players are essentially rewarded for their time and skill investment in the game.

  3. Crypto Games: Crypto games use blockchain technology and cryptocurrencies as an integral part of their gameplay mechanics. This can involve using crypto tokens for in-game transactions, as a form of in-game currency, or for other purposes within the gaming ecosystem. Crypto games often leverage the transparency and security provided by blockchain technology.

  4. Web3 Games: Web3 games are built on the principles of the decentralized web (Web3.0), utilizing blockchain and other decentralized technologies. These games often provide players with more control over their in-game assets, increased interoperability between different games and platforms, and a more open and transparent gaming environment.

  5. Blockchain Games: Blockchain games encompass any game that utilizes blockchain technology to enhance the gaming experience. This may involve the use of blockchain for asset ownership, secure transactions, and the creation of decentralized virtual economies. Blockchain games often promote player-driven economies and ownership of in-game assets through the use of blockchain technology.

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