- The ID may be used to get entry to Animoca’s whole portfolio of over 450 enterprises.
- Yat Siu said that the project’s DAO-based strategy prioritizes the community.
Animoca Brands, a Web3 and gaming firm, recently announced the successful completion of a fundraising round to hasten the creation of its Mocaverse platform. To boost its mission of making the Mocaverse project the identification and point system for Web3 games, culture, and entertainment, Animoca raised $20 million.
Animoca Brands’ co-founder and current CEO, Yat Siu, has said that the project’s DAO-based strategy prioritizes the community in order to facilitate cooperation across the whole Animoca ecosystem. In addition, he said, it would function as “the digital identity, reputation, and loyalty system for other decentralized organizations.”
Boosting Web3 Adoption
Moca ID will be a set of NFTs that lets its users “accrue reputation, earn and spend loyalty points,” and otherwise establish a digital identity. The ID may be used to get entry to Animoca’s whole portfolio of over 450 enterprises. The number of user addresses in this network is above 700 million, the release claims.
Moreover, Sky Mavis’s Aleksander Larsen and Yield Guild Games’ Gabby Dizon were among the investors in this round of fundraising. It was headed by CMCC Global, one of Asia’s first and leading venture capital investors in the blockchain sector.
Martin Baumann, co-founder of CMCC Global, said:
“The project will unify the unique portfolio of companies within the Animoca Brands umbrella and will become a portal for hundreds of millions of new users to access Web3 and metaverse ecosystems.”
After a lull in focus on the metaverse, this new advancement has emerged. However, after receiving a great deal of attention in 2022. The metaverse is now being overshadowed by more cutting-edge technology such as artificial intelligence.
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