News
Mocaverse Partners with Ton Blockchain to Drive Web3 Adoption
Mocaverse, a non-fungible token (NFT) collection from blockchain gaming and venture capital firm Animoca Brands, has formed a strategic partnership with Ton Blockchain. The collaboration aims to accelerate the adoption of Web3 technologies among the general public. According to a blog post dated July 22, Mocaverse confirmed its alliance with Ton Blockchain to develop an interoperable consumer network. Both entities are focused on promoting the widespread use of cryptocurrencies and NFTs.
Launched in March 2023, Mocaverse is a collection of NFTs introduced by Animoca Brands, a leading provider of NFT infrastructure and blockchain gaming. The Mocaverse collection consists of 8,888 NFTs featuring characters known as Mocas, hosted on the Ethereum blockchain. This project is designed to enhance Animoca Brands’ ecosystem of Web3 and metaverse-centric initiatives. It also aims to unite the company’s portfolio of crypto projects, subsidiaries, joint ventures, and partners through a unique NFT collection.
On the other hand, The Open Network (TON) is a decentralized computer network that includes a layer 1 blockchain with various components. TON is dedicated to integrating cryptocurrency into everyday life, creating the Web3 ecosystem within Telegram and simplifying digital ownership for billions of users.
Unite user bases for exponential growth
With this strategic partnership, Mocaverse plans to unite its 900 million users with TON’s 700 million users, creating a combined user base of over 1.6 billion. The goal is for Moca Network to become a network of networks, with TON serving as the primary partner to support cross-ecosystem growth. This initial collaboration is expected to pave the way for additional partnerships within the broader TON ecosystem.
Additionally, Mocaverse and the TON Foundation intend to establish a steering committee to oversee partnership initiatives and manage the ecosystem development treasury. This committee will leverage $TON and $MOCA tokens from a token swap agreement, valued at $20 million, to facilitate engagement and growth among users through the PointFi system and onboarding applications in the TON ecosystem.
Market reactions and future prospects
The announcement of this new partnership has had a significant impact on the Mocaverse NFT collection. According to data from CoinGecko.com, a popular cryptocurrency market data aggregator and NFT collection explorer, trading volume for Mocaverse NFTs increased by over 100% immediately following the news. Over the past 24 hours, the Mocaverse NFT collection has seen a trading volume of 20 ETH, marking a 106% increase from the previous day. Additionally, the Mocaverse NFT price low increased from 1.38 ETH to 1.48 ETH shortly after the partnership announcement, contributing to the collection’s market cap of 13,119 ETH.
This collaboration between Mocaverse and Ton Blockchain represents an important step towards the widespread adoption of Web3 technologies. By combining their vast user bases and leveraging their respective strengths, both entities aim to drive significant growth and innovation in the crypto and NFT space. The establishment of a steering committee and mobilization of substantial resources underscore their commitment to fostering a thriving ecosystem that benefits both users and partners. As the partnership progresses, further developments and additional collaborations are expected within the TON ecosystem, promising exciting opportunities for the future of Web3.