Terryl Dickey
22 Jul 2024 10:57
Animoca Brands’ Mocaverse has entered into a strategic partnership with the TON Foundation to conduct a MOCA Coin and Toncoin token swap to increase user engagement and drive ecosystem growth.
Animoca Brands’ Mocaverse has announced a strategic partnership with the MOCA Foundation and The Open Network (TON) Foundation to develop an identity and reputation-based consumer network across the Moca Network and TON Blockchain ecosystem. According to Animoca Brands, the collaboration also includes a ground-level token swap agreement between MOCA Coin (MOCA) and Toncoin to encourage user engagement and cross-pollination of projects.
Strategic Integration and Token Swap
This partnership aims to leverage the strengths of both ecosystems by integrating Mocaverse’s decentralized identifier (DID), Moca ID, into the TON blockchain’s reputation system, known as TON Society ID. This integration is expected to enhance interoperability and support user growth by allowing users to express their identity and value on-chain. The token swap agreement values MOCA coins at $0.113, with a total value of $1 billion, and includes incentives for ecosystem participation and project development.
Focus on user engagement and developer support
The two foundations will focus on driving user cross-pollination and engagement through a variety of initiatives. This includes integrating the Realm Network SDK into the TON blockchain and launching a co-branded hackathon and accelerator to attract and empower developers. The collaboration will target key cultural verticals such as social casual games, sports, and IP experiences to onboard and engage users.
Additionally, a total of $20 million in MOCA coins and Toncoin will be allocated to incentivize developers and users, including joint airdrops via TON’s The Open League and Moca Network’s PointFi platform.
Expansion and Ecosystem Growth
Mocaverse and the two foundations plan to explore opportunities to bootstrap consumer growth through Realm Network and Telegram Mini App Platform. This strategic partnership aims to integrate these tools into the TON blockchain, serving as a central reputation source for various TON ecosystem apps. This initiative is expected to drive user onboarding and engagement across both ecosystems.
Management Commentary
Yat Siu, Chairman and Co-Founder of Animoca Brands, expressed his excitement for this collaboration, highlighting its potential to advance Web3 mass adoption and digital property rights. Steve Yun, Chairman of the TON Foundation Council, emphasized the strategic alignment with Animoca Brands’ focus on digital property rights, while Manuel Stotz, Member of the TON Foundation Council, cited the partnership’s potential to drive expansion and value creation opportunities in blockchain gaming and beyond.
About our partners
Mocaverse, seeded by Animoca Brands, is a consumer network with an interoperable infrastructure layer. It focuses on building the largest on-chain cultural economy through Account, Identity, Reputation, and PointFi systems. The Open Network (TON) aims to build a Web3 ecosystem within Telegram Messenger, allowing users to own their digital identity, data, and assets. The MOCA Foundation seeks to support the growth of Moca DAO and other initiatives to enhance the network effects of Mocaverse for culture and entertainment.
The partnership aims to build a robust, integrated ecosystem for blockchain applications by establishing a steering committee to drive initiatives and develop additional areas of collaboration.
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