Animoca Brands Raises $20M for Metaverse Project Mocaverse

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Animoca Brands, a Hong Kong-based mobile game developer, has raised $20 million in a Series A round of funding to develop its “Metaverse Project Mocaverse”. The project, which will be a blockchain-powered virtual world, will enable users to create and share their own digital assets and experiences. The funding round was led by Hong Kong-based investment firm MindFund, with participation from SoftBank Ventures Asia, South Korean venture capital firm Shinhan Capital, and others. Through the Metaverse Project Mocaverse, users will be able to create and trade digital assets, as well as engage in experiences such as gaming and virtual reality (VR). The virtual world will also feature its own cryptocurrency, allowing users to pay for goods and services. The project is expected to launch in 2021.