Animoca Brands Raises $20M to Build Mocaverse Digital ID and Loyalty System for Web3 Games

Animoca Brands closed a $20M funding round to accelerate development of its Mocaverse platform and create digital IDs and a point system for Web3 gaming and entertainment.

The funding will support building the Mocaverse to be an identity and loyalty system for the Animoca ecosystem and other decentralized organizations.

The Moca ID will take the form of an NFT that allows users to create a digital identity and earn/spend points across Animoca's portfolio of over 450 companies.

The funding round was led by VC firm CMCC Global and included Aleksander Larsen, Gabby Dizon, and others.

This comes as attention on the metaverse has decreased in 2023, though it still offers opportunities for connection as seen with recent virtual events.