Animoca Brands Corporation Ltd has taken the total amount of funds raised for Mocaverse to US$31.88 million on completing a second tranche of funding of US$11,888,888.
This follows the first tranche investment of US$20 million which was announced in early September 2023 with funds to build the digital identity and point system for Web3 gaming, culture and entertainment
Participants in this second tranche of funding for Mocaverse included Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, Dapper Labs, and others.
Shares issued
In both tranches Animoca Brands raised the funds via the issue of new ordinary shares at a price per share of A$4.50. As part of each raise, the company granted to the investors in each round a free-attaching utility token warrant on a 1:1 dollar basis.
Animoca sees the second funding as further validation of the vision of Mocaverse to establish and serve as the empowerment layer for Web3 culture and entertainment, facilitating seamless onboarding and sustained growth for Web3 projects.
Frequent player program
As part of this vision, Mocaverse is creating the Web3 Frequent Player Program, a loyalty system powered by Mocaverse loyalty points ('Realm Points').
Mocaverse will serve as an interoperable meta-experience layer for Web3 identity, social and growth.
Users will be empowered to create their own digital identity, accrue reputation and earn and spend Realm Points by engaging within the Mocaverse ecosystem, seeded by Animoca Brands' more than 400 portfolio companies and its partner network with more than 700 million addressable users.
Digital passport
Mocaverse’s Moca ID will serve as a digital passport and the gateway for users to earn and enjoy the benefits offered by Mocaverse’s Web3 Frequent Player Program.
Moca ID holders will be able to earn Realm Points through participation and active engagement within the Mocaverse ecosystem and redeem the points to receive exclusive access to real-life benefits and rewards provided by Mocaverse and Animoca Brands.
The company envisions Mocaverse’s Web3 Frequent Player Program as a permission-less and interoperable loyalty system that will be progressively decentralised to enable third-party adoption and integration of Moca ID, with the aim to advance the accessibility and growth of Web3’s broader ecosystem.