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. This collaboration aims to accelerate the adoption of Web3 technologies among the general public. According to a blog post dated July 22, Mocaverse has 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 represents a collection of NFTs introduced by Animoca Brands, a leading provider of blockchain gaming and NFT infrastructure. The Mocaverse collection consists of 8,888 NFTs featuring characters known as Mocas, which are hosted on the Ethereum blockchain. This project was designed to enhance Animoca Brands’ ecosystem of Web3 and metaverse-centric initiatives. Furthermore, it 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 by building the Web3 ecosystem within Telegram and simplifying digital ownership for billions of users.
Merging User Bases for Exponential Growth
Under 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 intend to 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.
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 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.