The post Animoca Brands secures $10M to boost Mocaverse Web3 adoption. appeared on BitcoinEthereumNews.com.

Animoca Brands secures $10 million in funding to expand Mocaverse’s Web3 infrastructure. Mocaverse aims to drive mass crypto adoption with interoperable tools like the Realm SDK and Moca ID. Strategic partnerships with major platforms will onboard millions of users to the Moca Network. Animoca Brands, which promotes digital property rights for the open metaverse, secured another $10 million to fund its Mocaverse project. Last year, Animoca raised $31.88 million to develop cryptocurrency options for consumers. The total funding for Mocaverse is now over $40 million. The latest tranche of funding includes participation from high-profile investors such as OKX Ventures, CMCC Global, HongShan (formerly Sequoia China), Republic Crypto, Decima Fund, and Kingsway Capital.  The funding also includes a warrant for MOCA Coin, the project’s native utility token, which is pegged at an implied fully diluted value (FDV) of $1 billion. The structure mirrors previous investment rounds, reinforcing a strong trajectory for Mocaverse’s long-term growth. Advancing Web3 Interoperability with Mocaverse Animoca Brands plans to use this new capital to accelerate Mocaverse’s mission of driving interoperability within Web3 ecosystems. The project aims to grow its infrastructure, including the Realm SDK, which is a software development kit that lets partners build reputation-based ecosystems that work together on the Moca Network. This will let many different consumer applications, including gaming and social platforms, connect together. Mocaverse also launched Moca ID earlier this year. This product is an on-chain decentralized identifier (DID) that is important to the Realm SDK. Moca ID has over 1.79 million IDs registered and over 160 Web3 integrations. It also includes work with leading brands like Pixels, BLOCKLORDS, and OKX Wallet. What Investors and Animoca Leadership Say Notably, investors have expressed strong support for Mocaverse’s vision. Jeff Ren of OKX Ventures highlighted the project’s ability to integrate diverse cultural economies into a…

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Filed under: News - @ November 12, 2024 12:28 pm