Animoca Brands raises an additional $10 million to build out Mocaverse

The Hong Kong-based digital entertainment and venture firm Animoca Brands raised $10 million in funding to build out Mocaverse, the firm's consumer network. 

Participants in the round include OKX Ventures, CMCC Global, HongShan, Republic Crypto, Decima Fund and Kingsway Capital, according to a Tuesday release. 

The most recent financing comprises the third funding round Animoca received to build out Mocaverse. It raised $20 million in September 2023 and an additional $11.88 million two months later. 

Mocaverse aims to stitch together gaming, sports, music and other cultural economics into one platform. It allows users to create their digital identities via the decentralized identity protocol Moca ID, develop their online presence and earn rewards via Realm Points, a point system specific to completing tasks in the Mocaverse ecosystem. 

“Our mission is to get crypto in the hands of hundreds of millions of users, which requires onboarding the fan bases that appeal to individuals on a deeply personal level," Mocaverse Project Lead Kenneth Shek said in a statement. "We are building Realm Network to decentralize such onboarding efforts for each pioneer in the consumer crypto space across multiple verticals, with the ultimate goal of driving network effect among all of them.”