Animoca Brands, a Hong Kong-based web3 investor focused on gaming and the metaverse, raised $20 million through the issuance of new ordinary shares for Mocaverse, a project that’s building web3-native tools for gaming and entertainment products.

Animoca said today in a statement that it envisions Mocaverse as the identity and point system for web3 gaming, culture and entertainment. 

The funding round was led by CMCC Global, with the participation of investors including Kingsway Capital, Liberty City Ventures and GameFi Ventures. Some business figures such as Aleksander Larsen, co-founder of Sky Mavis, and Gabby Dizon, founder of Yield Guild Games, also contributed to the funding round. 

As part of the raise, Animoca has granted to the investors “a free-attaching utility token …