MOCA Foundation has reached a strategic partnership with TON Foundation and signed the MOCA and TONToken exchange protocol

Mocaverse, a metaverse product under the Animoca Brand, announced today a strategic partnership with MOCA Foundation and The Open Network (TON) Foundation to implement an identity and reputation-based consumer network between Moca Network and the TON blockchain ecosystem. As part of the strategic collaboration, MOCA Foundation and TON Foundation have signed a foundation token swap protocol, exchanging MOCA Coin (MOCA) for Toncoin (TON) at a rate of $0.113 per coin (total valuation of $1 billion), to facilitate interoperability between users and projects in the two ecosystems.

TON Foundation and MOCA Foundation will utilize market promotion and Token resources to promote user interconnection and participation between the two foundations' respective ecosystems, including but not limited to using and integrating Moca ID in the reputation system of the TON Blockchain, and applying it in the TON Society ID framework within the TON ecosystem. Moca ID is the Decentralization Identifier (DID) of Mocaverse, while TON Society ID will also be used to enhance interoperability and support user rise. Moca ID and TON Society ID are designed to provide users with a way to express their identities and values on-chain, thereby promoting seamless interaction and participation within and outside their respective ecosystems.

Mocaverse and these two foundations are committed to exploring opportunities for promoting the rise of TON Blockchain and Moca Network consumers through Mocaverse's flagship interoperability SDK product - Realm Network, as well as the Telegram Mini App platform. In particular, Mocaverse and TON Foundation will work together to integrate the Realm Network SDK into the TON Blockchain as a central source of reputation, and introduce, authenticate, and query data in different applications within the TON ecosystem. This strategic collaboration will promote user acquisition and interaction in key cultural verticals such as social casual games (e.g., GAMEE), sports, and intellectual property experiences, according to long-term strategic goals.

Mocaverse and the two foundations will also co-host brand hackathons and accelerators to attract and support both ecosystems and the most talented developers in the TON blockchain. The three parties agree to recommend eligible projects to investors in their respective networks for investment as much as possible.

A total of 20 million US dollars worth of MOCA Coin (MOCA) and Toncoin (TON) will be specifically used to incentivize developers and users to adopt both ecosystems, including a joint Airdrop through The Open League of TON ecosystem and PointFi platform of Moca Network.

Mocaverse is a landmark consumer network with an interoperable infrastructure layer initiated by Animoca Brands, which includes account, identity, reputation, and PointFi systems. Mocaverse will serve as the executive arm to achieve the strategic goals of the MOCA Foundation and TON Foundation. The strategic partnership announced today will enable all parties to focus on building identity and reputation systems for consumer products and users.

The ecosystem of over 450 portfolio companies in the Moca Network and Animoca Brands will provide a culturally and entertainment-focused consumer content layer for the TON ecosystem, the official Web3 infrastructure of Telegram Messenger with over 900 million active users. This will help onboard users into a comprehensive identity and reputation system supported by Moca ID and TON Society ID.

Mocaverse, MOCA Foundation, and TON Foundation will establish a steering committee to promote collaborative initiatives, develop longer-term collaboration areas, and promote the rise of a common ecosystem.

High-level View

Yat Siu, Chairman and Co-Founder of Animoca Brands, commented: "The collaboration between Mocaverse, TON Foundation, and MOCA Foundation is a shared mission for us - to drive mass adoption of Web3 and advance digital property rights is an exciting milestone. The unique collaboration between Telegram and TON Foundation, as well as the revealed collaboration today, will provide an opportunity to introduce Moca ID and Realm Network SDK to Telegram's 900 million users, and we believe it will amplify our respective network effects."

Steve Yun, Chairman of the TON Foundation, commented: 'The vision of TON for interactive freedom aligns with Animoca Brands' strategic focus on digital property rights. This partnership demonstrates that TON has become the preferred platform for gaming and social applications. The reputation system we jointly create will be a powerful platform for users to express their identity and values on-chain. We are excited to join forces with Animoca Brands in advancing the widespread adoption of blockchain applications.'

Manuel Stotz, a member of the TON Foundation Council and the founder and managing partner of Kingsway Capital (Kingsway Capital is the largest external shareholder of Animoca Brands), commented: "The collaboration between Animoca Brands and the TON Foundation will combine Web3 content, community, and distribution, and this combination will drive unparalleled expansion and value creation opportunities in blockchain games and other fields."

About Mocaverse

Mocaverse is the consumer network driven by Animoca Brands, with an interoperable infrastructure layer for account, identity, reputation, and PointFi system across the Mocaverse partner network. Mocaverse is committed to building the largest on-chain cultural economy by connecting and expanding the network effects of the Mocaverse partner network. As the core of the Animoca Brands ecosystem, Mocaverse pioneers the Web3 identity and PointFi system, enabling Moca Non-fungible Token holders and Moca ID users to seamlessly navigate and participate in over 450 rich experiences from the Animoca Brands portfolio, and to provide on-chain reputation proof. Mocaverse is not just an ecosystem; it is an economy that empowers participants to build, earn, and grow together. We are committed to promoting, popularizing, and integrating its products and concepts into a broader audience and market. For more long information, please visit the X platform.

About The Open Network

The Open Network (TON) is a global decentralized blockchain community dedicated to bringing Cryptocurrency to everyone's pocket. By building a Web3 ecosystem on Telegram Messenger, TON's vision is to empower 500 million users with their digital identity, data, and assets by 2028.

About MOCA Foundation

MOCA Foundation is a community-owned foundation aimed at enhancing the network effect of Mocaverse in culture and entertainment. Its mission is to promote unity and cooperation, standing at the forefront of governance, culture, and innovative rise. The foundation is committed to building the largest interoperable cultural economy in the Web3 space driven by MOCA Coin and supporting the growth of Moca DAO. Moca DAO is an upcoming 'DAO within a DAO' where members will lead the creation of MIPs (Moca Improvement Proposals) through a unique delegation model and participate in cross-DAO empowerment. For more information, please visit the X platform.

About Animoca Brands

Animoca Brands is the winner of Deloitte Tech Fast and one of the Crypto 40 companies listed by Fortune. It is also one of the top 50 blockchain gaming companies in the world by 2024 and one of the high-rise enterprises in the Asia-Pacific region listed by the Financial Times in 2023. As a leader in the Web3 field, Animoca Brands utilizes blockchain technology to provide global consumers with digital property rights and is dedicated to building an open metaverse. The company develops and releases a wide range of products, including original games such as The Sandbox, PHANTOM GALAXIES™, Life Beyond, and Crazy Defense Heroes, as well as products based on popular intellectual properties in the sports and entertainment fields such as The Walking Dead, Power Rangers, Moto GP™, and Formula E. The company has a long list of subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, SPORTPASS, PIXELYNX, WePlay Media, Gryfyn, and Azarus. Animoca Brands is one of the most active investors in the Web3 field and holds over 450 Web3 investment projects through direct investments and Animoca Ventures, including well-known entities such as Yuga Labs, Axie Infinity, Polygon, Consensys, Magic Eden, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, and more. For more information, please visit the X platform.