Animoca Brands Remains Confident Of The Metaverse Potential

09/11/2023

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Animoca Brands has raised $20 million for its new Mocaverse metaverse project. The investment was made at a time when the community is ambivalent about the future of this area.

Animoca Brands is still aiming to be a metaverse pioneer, raising $20 million for a new project. The blog post comes just after it was revealed that Meta is also still betting on the metaverse, despite a massive $21bn loss.

The funding round was led by CMCC Global. Martin Baumann, co-founder of CMCC Global stressed that the new project will unite all Animoca Brands companies and attract new users. Kingsway Capital, Liberty City Ventures and GameFi Ventures also participated in the funding.

There has been mixed sentiment in the metaverse sector. Meta's multi-billion dollar losses and the liquidation of Disney's metaverse division have caused the community to question the true potential of the field. However, the funds raised by Animoca Brands indicate an increased interest of industry participants in the metaverse.

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