Mocaverse, a metaverse product under Animoca Brand, announced today a strategic partnership with MOCA Foundation and The Open Network (TON) Foundation to implement an identity and reputation-based consumer network between the Moca Network and TON blockchain ecosystems. As part of the strategic partnership, MOCA Foundation and TON Foundation signed a foundation token swap agreement to exchange MOCA Coin (MOCA) at $0.113 per coin (total valuation of $1 billion) with Toncoin (TON) to incentivize the interoperability of users and projects between the two ecosystems.
TON Foundation and MOCA Foundation will use marketing and token resources to promote user interoperability and participation between the two foundations respective ecosystems, including but not limited to the use and integration of Moca ID in the TON blockchain reputation system and its application in the TON Society ID framework in the TON ecosystem. Moca ID is the decentralized identifier (DID) of Mocaverse, and TON Society ID will also be used to enhance interoperability and support user growth. Moca ID and TON Society ID are designed to provide users with a way to express their identity and values on-chain, thereby promoting seamless interaction and participation within and outside their respective ecosystems.
Mocaverse and the two foundations commit to exploring opportunities to promote consumer growth of the TON blockchain and Moca Network through Mocaverses flagship interoperability SDK product, Realm Network, and the Telegram Mini App platform. In particular, Mocaverse and the TON Foundation will work to integrate the Realm Network SDK into the TON blockchain to serve as a central reputation source and to introduce, authenticate, and query data in different TON ecosystem applications. This strategic collaboration will promote user introduction and interaction in accordance with long-term strategic goals through key cultural verticals such as social casual games (such as GAMEE), sports, and intellectual property experiences.
Mocaverse and the two foundations will also jointly host branded hackathons and accelerators to attract and support the most talented developers in both ecosystems and the TON blockchain. The three parties agree to do their best to recommend eligible projects to investors in their respective networks for investment.
A total of $20 million worth of MOCA Coin (MOCA) and Toncoin (TON) will be used exclusively to incentivize developer and user adoption of both ecosystems, including through a joint airdrop via TON’s The Open League and Moca Network’s PointFi platform.
Mocaverse is an iconic consumer network with an interoperable infrastructure layer initiated by Animoca Brands , including accounts, identities, reputation and PointFi systems. Mocaverse will serve as the execution arm to achieve the strategic goals of MOCA Foundation and TON Foundation. The strategic collaboration announced today will allow all parties to focus on building identity and reputation systems for consumer products and users.
The Moca Network and Animoca Brands ecosystem of over 450 portfolio companies will provide a consumer content layer focused on culture and entertainment for the TON ecosystem, the official Web3 infrastructure for Telegram Messenger with over 900 million active users. This will help to onboard users into a comprehensive identity and reputation system powered by both Moca ID and TON Society ID.
Mocaverse, MOCA Foundation, and TON Foundation will establish a steering committee to drive collaborative initiatives, develop additional areas of collaboration, and promote the growth of the common ecosystem.
High-level view
Yat Siu, Executive Chairman and Co-Founder of Animoca Brands, commented: “The collaboration between Mocaverse, TON Foundation and MOCA Foundation is an exciting milestone in our shared mission to drive mass adoption of Web3 and advance digital property rights. The unique partnership between Telegram and TON Foundation, and the collaboration revealed today, will provide an opportunity to introduce Moca ID and Realm Network SDK to Telegram’s 900 million users, which we believe will amplify our respective network effects.”
Steve Yun, Chairman of the TON Foundation Board, commented: “TON’s vision of freedom of interaction is strategically aligned with Animoca Brands’ emphasis on digital property rights. This collaboration is a testament to how TON has become the platform of choice for gaming and social applications. The reputation system we are creating together will be a powerful platform where users can choose to express their identity and values on-chain. We are excited to work with Animoca Brands towards widespread adoption of blockchain applications.”
Manuel Stotz, TON Foundation Board Member and Founder and Managing Partner of Kingsway Capital, Animoca Brands’ largest external shareholder, commented: “The collaboration between Animoca Brands and TON Foundation will combine Web3 content, community, and distribution. This combination will drive unparalleled scaling and value creation opportunities in blockchain gaming and beyond.”
About Mocaverse
Mocaverse is a consumer network driven by Animoca Brands, featuring an interoperable infrastructure layer of accounts, identities, reputation, and PointFi systems across the Mocaverse partner network. Mocaverse is committed to building the largest on-chain cultural economy by connecting and expanding the network effects of the Mocaverse partner network. At the core of the Animoca Brands ecosystem, Mocaverse pioneered the Web3 identity and PointFi systems, enabling Moca NFT holders and Moca ID users to seamlessly navigate and participate in over 450 rich experiences from the Animoca Brands portfolio, with on-chain reputation proof. Mocaverse is more than just an ecosystem, it is an economy that empowers participants to build, earn, and grow together, and we are committed to promoting, popularizing, and integrating its products and ideas to the wider public and market. For more information, visit X Platform.
About The Open Network
The Open Network (TON) is a global decentralized blockchain community dedicated to bringing cryptocurrency to everyones pocket. By building a Web3 ecosystem in Telegram Messenger, TONs vision is to enable 500 million users to own their digital identity, data, and assets by 2028.
About MOCA Foundation
MOCA Foundation is a community-owned foundation that aims to enhance the network effect of Mocaverse in culture and entertainment. Its mission is to promote unity and cooperation and to be at the forefront of innovation in governance, culture, and growth. The Foundation is committed to building the largest interoperable cultural economy in the Web3 space driven by MOCA Coin and supporting the growth of Moca DAO. Moca DAO is an upcoming DAO in DAO where members will lead the co-creation of MIPs (Moca Improvement Proposals) and participate in cross-DAO empowerment through a unique delegation model. For more information, visit X Platform.
About Animoca Brands
Animoca Brands is a Deloitte Tech Fast winner, a Fortune Crypto 40 company, one of the top 50 blockchain gaming companies in the world by 2024 , and one of the Financial Times Asia Pacific high growth companies by 2023. As a leader in the Web3 space, Animoca Brands uses blockchain technology to deliver digital property rights to consumers around the world and is committed to building an 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, as well as products leveraging popular intellectual property in the sports and entertainment sectors such as The Walking Dead, Power Rangers, MotoGP™ and Formula E. The company 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 , SPORTPASS , PIXELYNX , WePlay Media , Gryfyn and Azarus . Animoca Brands is one of the most active investors in the Web3 space, holding more than 450 Web3 investments through direct investment and Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Magic Eden, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games and many other well-known entities. For more information, visit the X platform.
