Mocaverse NFT Project Raises $20M From Animoca Brands – Its NFT Sales Spike 400%

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The multinational video gaming behemoth Animoca Brands has successfully raised $20 million in a funding round from notable investors and venture capital firms. Animoca Brands anticipates using the raised funds to accelerate its Mocaverse non-fungible token project.

Mocaverse Raises $20M From Animoca Brands

In a September 11 press release, Mocaverse, one of the Animoca Brands subsidiary projects and the firm behind the Mocaverse NFT collection, confirmed securing $20 million. Animoca Brands raised the funds by issuing shares while granting investors a free attaching utility token.

Mocaverse has raised $20M via our mothership, @animocabrands 👁👁👁#MocaFam, we’re about to level up from all fronts:
🛠️ Product development
🤝 Web2 and Web3 adoption
🎮 Redefining web3 culture and entertainment ecosystem
Full press release: https://t.co/lybQtUH5iY
— Mocaverse💼🪐 (@MocaverseNFT) September 10, 2023

The funding initiative was spearheaded by CMCC Global and saw the participation of notable investors and venture capitals, including Kingsway Capital, Liberty City Ventures, GameFi Ventures; Aleksander Larsen, the founder of Sky Mavis; Gabby Dizon, the founder of Yield Guild Games, institutional investors of Koda Capital, and Yat Siu, the executive chairman and co-founder of Animoca Brands.

Animoca Brands established its Mocaverse NFT project in 2020. The venture capital company anticipates using the raised funds to advance the project, including product development, facilitating Web3 adoption, and securing partnerships to expand the gaming, culture, and entertainment ecosystem. While commenting on the development, Yat Siu remarked:

“We are deeply honoured by investors’ support for Animoca Brands and its vision of decentralization. The ongoing evolution of the Internet involves a shift from hierarchical power structures to autonomous ones, and the DAO-based approach of Mocaverse ensures that its community will be focused on driving innovation and collaboration across the broader Animoca Brands ecosystem.”

In the same presser, Mocaverse announced a ready plan to launch Moca ID, a non-transferable NFT collection designed to enable users to craft their on-chain identities and participate in the Mocaverse ecosystem. The NFT collection will enable holders to earn loyalty points through active engagement.

Mocaverse NFT Sales Spike 400%

Mocaverse, an NFT collection featuring a limited edition of 8,888 NFTs hosted on the Ethereum network, has reacted sharply to the announcement, raising more than 400% in its trading sales volume. In the past 24 hours, the NFT collection has recorded a trading sales volume of 30ETH.

Source: CoinGecko.com, Mocaverse NFT Trading Activity

Mocaverse NFT floor price spiked from 0.86 ETH earlier this morning to around 0.91ETH hours later. At the time of publishing, the Mocaverse NFT floor price is consolidating around 0.88ETH after a short rally in the past few hours.