11 days ago
Animoca Brands, a Hong Kong-based mobile gaming and entertainment company, announced that it has raised $20 million in a strategic round of financing to pursue its “single native Web3 project” Mocaverse. The round was led by venture capital firm MindFund, with participation from True Global Ventures, Terra Ventures, and 500 Startups. The company plans to use the funds to continue to build out the Mocaverse platform, which is designed to create a single, fully integrated, Web3-native metaverse. Through the platform, users can access and interact with a variety of virtual worlds, including gaming, entertainment, and social experiences. The company also hopes to use the funds to further develop its portfolio of blockchain-based products, such as its recently launched Decentraland-based game, Axie Infinity.
Animoca Brands is a technology company specializing in digital entertainment products and services, with a focus on games and sports.
The $20M raised by Animoca Brands will be used to pursue the development of its 'Single Native Web3 Project' Mocaverse.
Mocaverse is an open-world gaming experience that utilizes blockchain and non-fungible tokens (NFTs) to enable users to collect, trade, and engage with digital assets.
Non-fungible tokens (NFTs) are unique digital assets that are stored on a blockchain, and they represent ownership of a digital item. They are not interchangeable or divisible like cryptocurrency, and can be used to represent digital items such as artwork, collectibles, and in-game items.
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