Unlocking Opportunities in the Open Network Ecosystem
Discover how a groundbreaking partnership between Animoca Brands, The Open Network (TON) blockchain, Moca Network, and the MOCA Foundation is set to revolutionize the landscape of GameFi and Web3 gaming this year.
MOCA Coin and Toncoin Reserve Collaboration
The recent collaboration announcement unveils plans for a $20 million MOCA coin and Toncoin reserve, aimed at driving developer and user adoption within the Open Network ecosystem. Here’s what this partnership entails:
– Creation of a $20 million MOCA coin and Toncoin reserve
– Incentivization of developer and user adoption through initiatives like The Open League, hackathons, and accelerator programs
– Promotion of cross-functional development and community engagement within the TON platform
By leveraging go-to-market strategies and token resources, the Foundation and MOCA are poised to enhance the launch and integration benefits for partners working on gaming projects within the Layer 1 blockchain.
“This partnership validates that TON has become the platform of choice for games and social apps. The reputation system we co-create will become a powerful opt-in platform through which users can express their identity and values on-chain. We are excited to take a leap with Animoca Brands towards widespread adoption of blockchain applications,” shared Steve Yun, Council Chair of The Open Network Foundation.
Empowering TON Blockchain’s User Base Expansion
A pivotal outcome of this collaboration is the introduction of the “TON Society ID,” a decentralized identity credential enabling users to wield governance power on the Layer 1 blockchain. Key highlights include:
– Target of reaching 500 million TON users by 2028
– Establishment of a “meaningful digital identity” framework within the Open Network Society
– Support for a reputation scoring system by Mocaverse
– Contribution of gaming and content data to the Society ID
Yat Siu, CEO, and co-founder of Animoca Brands, emphasized the significance of integrating Moca ID and Realm Network SDK with Telegram’s vast user base of 900 million users to enhance network effects.
This alliance is expected to introduce new tools, users, and funding to each ecosystem, driving the widespread adoption of Web3 by users.
TON Token Performance Amidst Partnership News
Despite the partnership announcement, the native token of the Open Network, Toncoin, maintained a stable trading position at $6.96. Notable trends include a 2.7% and 5.8% decline in the 24- and 7-day time frames, respectively.
Hot Take: Catalyst for Blockchain Application Adoption
On Monday, Hong Kong-based gaming software company Animoca Brands, The Open Network (TON) blockchain, Moca Network, and the MOCA Foundation announced a new partnership to catalyze the adoption of the Open Network ecosystem and establish its position for GameFi and Web3 gaming.
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