Animoca Brands Corporation Limited, the Hong Kong-based company advancing digital property rights for gaming and the open metaverse, has on Friday announced a second tranche of funding of $11.89 million for its non-fungible token (NFT) collection Mocaverse, following a first tranche investment of $20 million announced previously.

Animoca Brands said in a statement that participants in this second tranche of funding for Mocaverse included Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, Dapper Labs, and others.

In both tranches Animoca Brands raised the funds via the issue of new ordinary shares at a price per share of AUD 4.50 ($2.98); as part of each raise, the company granted to the investors in each round a free-attaching utility token warrant on a 1:1 dollar basis.

The company views the funding announced today as further validation of the vision of Mocaverse to establish and serve as the empowerment layer for Web3 culture and entertainment, facilitating seamless onboarding and sustained growth for Web3 projects.

As part of this vision, Mocaverse is creating the Web3 Frequent Player Program, a loyalty system powered by Mocaverse loyalty points (Realm Points).

Mocaverse will serve as an interoperable meta experience layer for Web3 identity, social, and growth.

Mocaverse users will be empowered to create their own digital identity, accrue reputation, and earn and spend Realm Points by engaging within the Mocaverse ecosystem, seeded by Animoca Brands’ more than 400 portfolio companies and its partner network with over 700 million addressable users.

Mocaverse’s recently announced Moca ID will serve as a digital passport and the gateway for users to earn and enjoy the benefits offered by Mocaverse’s Web3 Frequent Player Program.

Moca ID holders will be able to earn Realm Points through participation and active engagement within the Mocaverse ecosystem and redeem the points to receive exclusive access to real-life benefits and rewards provided by Mocaverse and Animoca Brands.

The company envisions Mocaverse’s Web3 Frequent Player Program as a permissionless and interoperable loyalty system that will be progressively decentralized to enable third-party adoption and integration of Moca ID, with the aim to advance the accessibility and growth of Web3’s broader ecosystem.

Animoca Brands is a Web3 leader that leverages blockchain to deliver digital property rights to consumers around the world to help to establish the open metaverse.

The company develops and publishes a broad portfolio of products including original games such as The Sandbox, PHANTOM GALAXIES™, Life Beyond, and Crazy Defense Heroes, and products utilizing popular intellectual properties from the worlds of sports and entertainment, such as The Walking Dead, Power Rangers, MotoGP™, and Formula E.

It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, Be., PIXELYNX, WePlay Media, and Gryfyn.

Animoca Brands is one of the most active investors in Web3, with a portfolio of over 400 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, Alien Worlds.

Animoca Brands partners Ubisoft’s Strategic Innovation Lab to support Web3 initiatives on Mocaverse