Coinspeaker
Mocaverse, MOCA Foundation, and TON Foundation Ink Strategic Partnership
A previous partnership between Animoca Brands and The Open Network (TON) ecosystem has translated into something bigger. Two of Animoca Brands’ subsidiaries Mocaverse and MOCA Foundation have partnered with TON Foundation. In a recent release, the duo noted that the alliance is focused on incorporating identity and reputation networks into Moca Network and TON blockchain ecosystems.
Creating $20M MOCA Coin and Toncoin Reserve
Notably, the leading Web3 gaming and metaverse outfit became TON’s largest validator in 2023. Since that time, Animoca Brands has embraced the TON infrastructure including the TON Community. In addition, Animoca has dedicated significant energy, time, and resources to boost TON’s adoption. This effort highlights TON’s potential as the go-to infrastructure for GameFi and Web 3.0 gaming.
TON Foundation Council President Steve Yun noted that “TON’s vision of freedom of interaction aligns strategically with Animoca Brands’ focus on digital property rights”.
The recent development with Mocaverse and MOCA Foundation comes barely half a year later. It is obvious that their partnership has seen a significant progression. The new alliance will drive cross-ecosystem growth and establish TON as a premier platform for content, gaming, and community amongst other focuses.
Mocaverse is a blockchain-based identity project, while the MOCA Foundation oversees the cryptocurrency project MOCA Coin (MOCA). For MOCA Foundation, its deal with the TON Foundation involves a token-swap agreement between MOCA and TON. It is aimed at encouraging bolstered user activity between the two ecosystems.
“This partnership validates that TON has become the platform of choice for games and social apps. The reputation system we co-create will become a powerful opt-in platform through which users can express their identity and values on-chain,” President Yun added.
Together with Mocaverse, MOCA Foundation and TON Foundation have agreed to create a $20 million MOCA Coin and Toncoin reserve. This will be used to incentivize developers as well as users who adopt the TON ecosystem through joint incentives like The Open League, hackathons, and accelerator programs.
Protocols Harness the Potentials of the TON Ecosystem
In the long run, Animoca Brands and Mocaverse are likely to promote the benefits of launching and integrating with the TON blockchain for their partners developing gaming projects. Significantly, the TON ecosystem has registered great improvement in such a short while. This is because several other protocols are equally pursuing the same plan by showing support for the TON ecosystem.
Last week, OKX exchange integrated the TON network, marking its 100th mainnet blockchain integration. As a result, the crypto exchange has now added support for the TON ecosystem in addition to NEAR, Blast, and zkLink Nova among others.
A few days after the OKX announcement, TON Foundation announced the launch of TON Teleport BTC, an infrastructure that offers a secure bridge facilitating seamless Bitcoin transfers to and from the TON network. This upgrade, which is scheduled for release later this year, will allow Bitcoin holders to participate in decentralized finance (DeFi) activities.
Mocaverse, MOCA Foundation, and TON Foundation Ink Strategic Partnership
