Animoca Brands Mocaverse has announced a partnership with the MOCA Foundation and The Open Network (TON) Foundation to implement an identity and reputation-based consumer network across the Moca Network and TON Blockchain ecosystems.
The initiative includes integrating Mocaverses decentralized identifier (DID), Moca ID, with the TON Society ID to facilitate user interaction and growth by allowing users to express their identity and values on-chain.
In support of this effort, the MOCA Foundation and TON Foundation have executed a token swap agreement, involving the exchange of Moca Coin ($MOCA), valued at US$0.113 with a fully diluted valuation (FDV) of US$1 billion, for Toncoin ($TON), for a combined value of US$20 million.
Source: TON Foundation
Support Initiatives to Enhance Ecosystem Growth
The partnership will use the Realm Network, Mocaverses SDK product, and the Telegram Mini App Platform to enhance consumer growth.
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 Telegrams 900 million users, which we believe could exponentially magnify all our respective network effects, commented Yat Siu, Executive Chairman and Co-founder of Animoca Brands.
The Realm Network SDK will be integrated into the TON Blockchain to act as the central reputation source, facilitating data onboarding, attestation, and querying across various TON ecosystem applications, with focus on areas such as social casual gaming, sports, and IP experiences. Additionally, the partners plan to launch co-branded hackathons and an accelerator program to support developers across both ecosystem.
The reputation system we co-create will become a powerful opt-in platform through which users can express their identity and values on-chain, said Steve Yun, TON Foundation Council President.
