Game developer Animoca Brands raises $20 million for Moca ID NFT collection

Animoca Brands has raised $20 million for its Mocaverse project and NFT collection release

The funds will be used to release the Moca ID NFT collection so that users can create identities online and participate in the Mocaverse ecosystem

Animoca Brands has reported the completion of a $20 million investment round, the funds raised will be used to develop the Mocaverse project and release the Moca ID NFT collection, Coindesk reported, citing a company statement.

Moca ID is a collection of non-interchangeable tokens (NFTs) designed to allow users to create identities on the network and participate in the Mocaverse ecosystem. The company announced this project in December 2022. At that time, it was about releasing a separate NFT collection with PFP tokens (owner avatars). The company said it planned to unify the entire ecosystem and provide community members with channels to communicate and share ideas.

Capital was raised through the sale of simple agreements for future shares (SAFE) at 4.5 Australian dollars (about $2.90) each

In March, Animoca Brands lowered its fundraising for meta-universe and Web3 to $800 million, the second time in a year that the venture capital firm has reevaluated the funding it planned to raise to invest in meta-universes.