A group of prominent Web3 investors has invested $20 million in Animoca Brands, a metaverse and gaming venture capital firm, to support its Mocaverse project.
The Hong Kong-based company announced on Monday that the investment was led by CMCC Global and joined by Kingsway Capital, Liberty City Ventures and GameFi Ventures. Animoca co-founder Yat Siu also took part in the funding round as an individual.
Animoca Brands is a leading investor in NFTs, blockchain gaming and metaverse-related companies, with backing from Singapore’s state investment fund, Temasek.
The company’s vision is to create Mocaverse, a Web3-native platform that enables users to build gaming and entertainment products.
One of the products under development is Moca ID, an NFT collection that allows users to create on-chain identities to access the Mocaverse ecosystem.