Blockchain game studio Animoca Brands has secured a $20 million investment in its “Mocaverse” project, demonstrating strong belief in the potential of the Metaverse despite mixed feelings across the industry.
The news comes as tech giant Meta continues to tout its Metaverse efforts despite significant losses from its Reality Labs division.
Animoca brand secures $20 million in new funding for Mocaverse
Animoca Brands’ recent funding success reported on official website Website, demonstrating the company’s commitment to exploring the frontiers of the Metaverse. The $20 million investment will go toward the development of Mocaverse, a project that aims to redefine the way we interact with digital spaces.
“This project will bring together the unique portfolio of companies under Animoca Brands and become a portal for hundreds of millions of new users to access the Web3 and Metaverse ecosystems,” said Martin Baumann, co-founder of CMCC Global. says Mr.
In contrast, Meta’s journey through the Metaverse was full of challenges. BeInCrypto reported that despite the hype surrounding Meta’s Metaverse efforts, the company’s Reality Labs division suffered a staggering $21 billion loss.
Still, Meta is undaunted and moving forward with its Metaverse plans, even as Apple prepares to launch its Vision Pro VR headset.
The metaverse field is not without its skeptics.As reported by the Wall Street Journal, Disney recently excluded Metaverse division as part of a major layoff plan.
read more: Blockchain Games: Keys to Metaverse Castle
Not everyone is sold on Metaverse Pipedream
But despite mixed feelings, not all industry players were deterred. Animoca Brands’ latest funding round underscores the company’s belief in the transformative potential of the Metaverse.
The company has established a strong position in the blockchain space, reinforcing its position as a formidable competitor in the metaverse space.
read more: Top 11 companies building on the Metaverse [In 2023]
The future of the Metaverse remains uncertain, with some companies like Animoca Brands investing heavily while others like Disney are pulling back.
The loss of the metaverse has sparked a debate about the viability of the metaverse. But the contrasting stories of the Animoca brand and Disney show that sentiment in the industry is not homogeneous.
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