Animoca Brands raises additional US$11.88 million in second tranche of funding for Mocaverse
Second tranche brings total raised for Mocaverse to US$31.88 million to build the digital identity and point system for Web3 gaming, culture, entertainment
08 December 2023 - Animoca Brands Corporation Limited (“Animoca Brands” or the “Company”), the company advancing digital property rights for gaming and the open metaverse, today announced a second tranche of funding of US$11,888,888 for Mocaverse, following a first tranche investment of US$20 million announced previously (see announcement of 11 September 2023).
Participants in this second tranche of funding for Mocaverse included Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, Dapper Labs, and others. 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.
The Company views the funding announced today 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. 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. Mocaverse 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 over 700 million addressable users.
Mocaverse’s recently announced 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 permissionless 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.
Details of raise
Animoca Brands is issuing Simple Agreements for Future Equity (SAFEs) with various sophisticated and professional investors to raise a total of US$11,888,888 (approximately. A$18.14 million) at the price of A$4.50 per share. The SAFEs will be automatically converted to ordinary shares after six months. The number of new shares to be issued will be determined by the AUD:USD exchange rate at the time of settlement. The Company’s number of current outstanding fully paid ordinary shares is 1,910,074,127. As part of the raise, the Company has granted to participating investors a free-attaching utility token warrant (at a nominal price) on a 1:1 dollar basis with a 30-month vesting schedule.
About Animoca Brands
Animoca Brands, a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and one of the Financial Times’ High Growth Companies Asia-Pacific 2023, is a Web3 leader that leverages blockchain to deliver digital property rights to consumers around the world to help establish the open metaverse. The company develops and publishes a broad portfolio of products including original games such as The Sandbox, PHANTOM GALAXIES™, Life Beyond, and Crazy Defense Heroes, and products utilizing popular intellectual properties from the worlds of sports and entertainment, such as The Walking Dead, Power Rangers, MotoGP™, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, Be., PIXELYNX, WePlay Media, and Gryfyn. Animoca Brands is one of the most active investors in Web3, with a portfolio of over 400 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, Alien Worlds, and many more. For more information visit www.animocabrands.com or follow on X (Twitter) or Facebook.