Mocaverse NFT Collection Forms Strategic Partnership with TON Blockchain to Accelerate Web3 Adoption

Mocaverse, a non-fungible token (NFT) collection from the blockchain gaming and venture capital firm Animoca Brands, has formed a strategic partnership with Ton Blockchain.

Non-fungible token (NFT) collection Mocaverse, an initiative by blockchain gaming and venture capital firm Animoca Brands, has announced a strategic partnership with TON Blockchain to drive the adoption of Web3 technology among the general public.

According to a blog post on July 22, Mocaverse has joined forces with TON Blockchain to build an interoperable consumer network. Both entities are dedicated to promoting the widespread use of cryptocurrency and NFTs.

Launched in March 2023, Mocaverse is a collection of NFTs introduced by Animoca Brands, a world-leading provider of blockchain gaming and NFT infrastructure. The Mocaverse collection comprises 8,888 NFTs featuring characters called Mocas, which are hosted on the Ethereum blockchain. This project was designed to enhance Animoca Brands’ ecosystem of Web3 and metaverse-centric initiatives. It aims to unite the company’s portfolio of crypto projects, subsidiaries, joint ventures, and partners through a unique NFT collection.

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 by building the Web3 ecosystem within Telegram and simplifying digital ownership for billions of users.

Merging user bases for exponential growth

As part of this strategic partnership, Mocaverse plans to merge its 900 million users with the 700 million TON users, creating a combined user base of over 1.6 billion. The goal is for the 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 further partnerships within the broader TON ecosystem.

Moreover, Mocaverse and the TON Foundation will establish a steering committee to oversee partnership initiatives and manage the treasury for ecosystem development. This committee will leverage $TON and $MOCA tokens from a token swap agreement, valued at $20 million, to facilitate cross-user engagement and growth through the PointFi system and onboarding applications into the TON ecosystem.

According to the announcement, this partnership aims to integrate TON into Animoca Brands’ metaverse, enabling users to access a vast Web3 ecosystem. The collaboration will also introduce TON to Animoca Brands' partners, which include Disney, Warner Music Group, and Ubisoft.

Market reactions and future prospects

The announcement of this new partnership had an immediate impact on the Mocaverse NFT collection. According to data from CoinGecko, a well-known crypto market data aggregator and NFT collection explorer, the trading volume for Mocaverse NFTs surged by over 100% immediately following the news.

In the past 24 hours, the Mocaverse NFT collection recorded a trading volume of 20 ETH, marking a 106% increase from the previous day. Additionally, the floor price of Mocaverse NFTs rose from 1.38 ETH to 1.48 ETH shortly after the partnership was announced, contributing to the collection’s market capitalization of 13,119 ETH.

This collaboration between Mocaverse and TON Blockchain signifies a major step toward mainstream adoption of Web3 technologies. By combining their extensive user bases and leveraging their respective strengths, both entities aim to drive significant growth and innovation within the crypto and NFT space. The establishment of a steering committee and the mobilization of substantial resources underscore their commitment to fostering a thriving ecosystem that benefits users and partners alike. As the partnership progresses, further developments and additional collaborations within the TON ecosystem are anticipated, promising exciting opportunities for the future of Web3.

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