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TON Foundation is growing its influence after partnering with Mocaverse, a game backed by Animoca Brands. The two foundations will bring Telegram’s users to more than 450 products backed by Animoca’s earlier investments.
Mocaverse and MOCA Foundation have entered a partnership with the TON Foundation, the growth and planning organization of Toncoin (TON). The partnership arrives at a time when Toncoin and Telegram are marking vertical growth for game apps, clicking mini-apps and channel and group advertising.
The Mocaverse project launched its token on Ethereum, aiming to use MOCA to facilitate wallet-based identity, NFT trading, gaming, and metaverse experiences. Soon after starting its token distribution, the Mocaverse project entered into a token swap agreement with the TON Foundation.
Join us in a few hours with @ton_blockchain @MOCAFoundation & @tylerdurden88 to learn more about our strategic partnership 👇🏻https://t.co/i7rFkbPkyX
— Mocaverse💼🪐 (@Moca_Network) July 22, 2024
The two organizations want to also exchange potential users, as Toncoin relies on the growing Telegram community, reporting roughly 1.6B registered users and 800M daily active users on its chat app.
“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.
Owners of a Moca ID will be able to use it on the Toncoin reputation system and as part of the TON Society ID framework. The MOCA Foundation and Mocaverse aim to gain adoption for their products, in connection with Toncoin accounts, reputation, and the creation of mini-apps. Additionally, the two foundations will hold co-branded hackathons to select projects from the most talented developers.
To facilitate the partnership, the two foundations will set aside $20M in MOCA and TON tokens. The funds will be used to facilitate growth, and for airdrops on The Open League and Moca Network’s PointFi platform.
MOCA Foundation boosts acceptance for Toncoin’s community
The Open Network (TON) or Toncoin, is a global, community-driven blockchain project, which aims to popularize Web3 usage. The TON Foundation relies on Telegram users for its recent growth in traffic for mini-apps, clickers and games like Catizen.
MOCA Foundation is the entity tasked with growing the adoption of the Mocaverse and its features and content. The MOCA Foundation also supervises the creation of MOCA DAO, allowing MOCA token holders to invest in other crypto communities.
Also Read: Catizen becomes top Telegram game for Toncoin (TON) users
The involvement of the MOCA Foundation exposes the Toncoin ecosystem to the influence of Animoca Brands. The organization is among the biggest investors in Web3 games, tokenized games, metaverse projects and NFT launches. Animoca Brands has invested in some of the biggest gaming projects during the 2021 play-to-earn boom.
Toncoin, on the other hand, had to rely on organic growth and the launch of mini-apps and tap-to-airdrop projects. The Toncoin ecosystem already hosts Gamee, one of the most popular casual games backed by Animoca Brands.
Games grew the influence of Toncoin, recently leading the chain to surpass Ethereum in daily active users.
TON surpasses Ethereum in daily active addresses! 🚀 pic.twitter.com/ziSzuELBLW
— TON Coin (@toncoin) June 11, 2024
On some days, Toncoin registers more than 500K daily active users, with many more engaged in gaming off the blockchain. MOCA targets its identity and tracking services to those users, as some of the specific partnership activities will be disclosed in the future.
The Mocaverse platform already hosts missions by its selection of partners from the Web3 space. The partners include high-profile gaming projects like Nine Chronicles, as well as prominent crypto platforms and partner games. The Mocaverse grew after a seed investment round from Animoca Brands.
Also Read: Toncoin (TON) carries more than $9B transactions in Q2
Users can also access a MOCA ID, purchased for MOCA tokens or through an invite code. MOCA tokens are also used to trade NFT on the platform. If not used, MOCA tokens can earn passive income from staking.
Attracting users into MOCA ID will also allow them access to more than 450 products in the Animoca Brands ecosystem. Spreading the ID to Telegram users may mean an inflow of players to older Web3 features, including top metaverse games like The Sandbox. Owning the ID will allow users to accrue points and reputations into a single identity, later being able to extract the value of those activities.
The MOCA ID feature is still in the invite code phase, and will be unrolled over time, while establishing readable on-chain identities.
Cryptopolitan reporting by Hristina Vasileva