Mocaverse, MOCA Foundation, and TON Foundation Ink Strategic Partnership

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As a seasoned crypto investor with a deep understanding of the blockchain industry, I’ve seen my fair share of partnerships and collaborations between various players in this space. However, the recent alliance between Animoca Brands and The Open Network (TON) ecosystem stands out as particularly noteworthy.

Animoca Brands’ past collaboration with The Open Network (TON) has led to a more substantial relationship. Mocaverse and MOCA Foundation, two of Animoca Brands’ subsidiaries, have teamed up with the TON Foundation. According to their latest announcement, this partnership aims to integrate identity and reputation systems into both the Moca Network and the TON blockchain infrastructure.

Creating $20M MOCA Coin and Toncoin Reserve

Significantly, Animoca Brands emerged as the largest validator for TON, the prominent Web3 gaming and metaverse platform, in the year 2023. Since then, Animoca Brands has actively engaged with the TON ecosystem, joining the TON Community. Furthermore, they have invested considerable time, energy, and resources into promoting TON’s usage within the GameFi and Web 3.0 gaming sectors. This commitment underscores TON’s promise as a preferred infrastructure solution for these emerging industries.

The president of the TON Foundation Council, Steve Yun, pointed out the aligned strategic priorities between TON and Animoca Brands. TON’s goal for promoting interactive freedom harmonizes with Animoca Brands’ emphasis on securing digital property rights.

Within the past six months, there’s been notable advancement in the collaboration between Mocaverse and MOCA Foundation. It’s clear that their union has made great strides. This fresh alliance is poised to foster expansion across various ecosystems, making TON a leading destination for content creation, gaming, and community engagement among other priorities.

Mocaverse represents a blockchain identity initiative, while the MOCA Foundation manages the cryptocurrency project known as MOCA Coin (MOCA). The MOCA Foundation has entered into an arrangement with the TON Foundation concerning MOCA Coin and the TON token. This agreement facilitates a token swap between MOCA and TON, ultimately boosting user engagement within both ecosystems.

“The formation of this partnership signifies that TON is now preferred by developers for creating games and social applications. With the collaboration on our reputation system, users will have the ability to showcase their identities and values in a meaningful way on the blockchain,” President Yun explained.

In collaboration with Mocaverse, MOCA Foundation and TON Foundation have made a decision to establish a collective fund worth $20 million. This fund will be comprised of MOCA Coins and Toncoins. The primary objective is to motivate both developers and users by offering mutual incentives such as The Open League, hackathons, and accelerator programs, within the TON ecosystem.

Protocols Harness the Potentials of the TON Ecosystem

Over an extended period, Animoca Brands and Mocaverse are expected to advocate for the advantages of collaborating with the TON blockchain for their gaming project partners. Notably, the TON network has made remarkable strides in a short timespan. This is due in part to other protocols also aligning with this strategy by bolstering the TON ecosystem.

Last week, OKX exchange successfully connected with the TON network, reaching a milestone of 100 mainnet blockchain integrations. Consequently, this development enables users on the platform to work with the TON ecosystem, joining NEAR, Blast, zkLink Nova, and other supported networks.

Approximately a week following OKX’s announcement, TON Foundation unveiled TON Teleport BTC – an innovative infrastructure enabling safe and effortless transfer of Bitcoin between the TON network and Bitcoin blockchain. This upcoming feature, planned for rollout later in the year, empowers Bitcoin owners to engage in decentralized finance (DeFi) initiatives on TON.

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2024-07-22 16:55