Animoca Brands’ Mocaverse has on Friday announced a strategic partnership with MOCA Foundation and The Open Network (TON) Foundation to implement an identity and reputation-based consumer network across Moca Network and TON Blockchain ecosystems.
Animoca Brands said in a statement that in conjunction with the strategic partnership, MOCA Foundation and TON Foundation have executed a strategic foundation-level token swap agreement of MOCA Coin (MOCA) priced at $0.113 ($1 billion fully diluted valuation [FDV]) and Toncoin to incentivize ecosystem and cross-pollination of user and projects across both ecosystems.
According to the statement, TON Foundation and MOCA Foundation will utilize go-to-market and token resources to facilitate user cross-pollination and engagement across the foundations’ respective ecosystems, including but not limited to the use and integration of Moca ID on the reputation system on the TON Blockchain, across the TON ecosystem in the TON Society ID framework.
Both Moca ID, which is Mocaverse’s decentralized identifier (DID), and TON Society ID will be utilized to enhance interoperability and support user growth.
According to the statement, Moca ID and TON Society ID aim to provide users with a means to express their identity and values on-chain, thereby promoting seamless interaction and engagement within and between the respective ecosystems.
Mocaverse and the two foundations have committed to explore opportunities to bootstrap consumer growth of the TON Blockchain and Moca Network through Realm Network, Mocaverse’s flagship interoperable SDK product, and the Telegram Mini App Platform.
In particular, Mocaverse and TON Foundation will work towards integrating the Realm Network SDK into TON Blockchain to serve as the central reputation source and onboard, attest, and query data across different TON ecosystem apps.
This strategic collaboration will focus on onboarding and cross-pollinating users through key cultural verticals such as social casual gaming (such as GAMEE), sports, and IP experiences in accordance with strategic long-term goals.
Co-branded hackathons and an accelerator will also be launched by Mocaverse and the two foundations to reach and empower the most talented developers across both ecosystems and TON Blockchain.
The three parties agree to use their reasonable endeavors to present qualifying projects to investors within their respective networks for investment.
MOCA Coin (MOCA) and Toncoin (TON), valued at a combined total of $20 million, will be used exclusively to incentivize developers’ and users’ adoption of both ecosystems, including joint airdrops via TON’s The Open League and Moca Network’s PointFi platform.
It is noted that Mocaverse is the marquee consumer network with an interoperable infrastructure layer of Account, Identity, Reputation, and PointFi systems seeded by Animoca Brands.
Mocaverse will serve as the execution arm to fulfill the strategic objectives of both the MOCA Foundation and TON Foundation.
The strategic partnership announced today will see the parties focus on building an identity and reputation system for consumer products and users.
Moca Network and Animoca Brands’ ecosystem of more than 450 portfolio companies will provide the consumer layer of content focused on culture and entertainment to the TON
ecosystem, the official Web3 infrastructure of Telegram Messenger, which has over 900 million active users.
This will help onboard users into the combined identity and reputation system facilitated by both Moca IDs and TON Society IDs.
Mocaverse, MOCA Foundation, and TON Foundation will also establish a steering committee to drive partnership initiatives and develop further areas for collaboration and combined ecosystem growth.
“The collaboration between Mocaverse, TON Foundation and MOCA Foundation is an exciting milestone on our shared mission of Web3 mass adoption and the advancement of digital property rights,
“The unique partnership between Telegram and the TON Foundation and the collaboration revealed today provide an opportunity to bring Moca ID and the Realm Network SDK to Telegram’s 900 million users, which we believe could exponentially magnify all our respective network effects,” said Yat Siu, executive chairman and co-founder of Animoca Brands.
Steve Yun, TON Foundation council president, commented that TON’s vision of freedom of interaction aligns strategically with Animoca Brands’ focus on digital property rights.
He said 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,
“We are excited to take a leap with Animoca Brands towards widespread adoption of blockchain applications,” he added.
Manuel Stotz, TON Foundation council member and Founder and Managing Partner of Kingsway Capital, the largest outside shareholder of Animoca Brands, said the partnership between Animoca Brands and TON Foundation brings together the two leading players in Web3 content, community, and distribution.
He noted that this combination will drive unparalleled scaling and value-creation opportunities in blockchain gaming and beyond.
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