TON Foundation has announced a strategic multimillion-dollar partnership with Animoca Brands subsidiaries Mocaverse and MOCA Foundation.

The tie-up comes after Animoca Brands became the largest validator of The Open Network (TON) in November last year through a broad partnership that also sought to facilitate a seamless transition of users from Web2 to Web3.

TON Foundation’s $20M Initiative

In a statement dated July 22, the TON Foundation said the partnership has agreed to create a $20M MOCA Coin and Toncoin reserve to drive user adoption and incentivize developers on the TON ecosystem through joint incentives like The Open League, accelerator programs, and hackathons.   

The foundation will also collaborate with the MOCA Foundation to facilitate user cross-pollination across their respective ecosystems using “go-to-market” and token resources.

“With this partnership, Animoca Brands and Mocaverse will actively promote the benefits of launching and integrating with the TON blockchain for their partners developing gaming projects,” the statement read.

The partnership will further see Mocaverse support the development of TON’s reputation scoring system and provide gaming and content systems data for TON Society ID, a decentralized identity credential expected to create a user-based governance system by 2028.

Mocaverse has established itself as a pioneer of the Web3 identity and PointFi system in the Animoca Brands ecosystem. The company’s Moca ID allows users to access over 400 rewarding experiences from Animoca Brands’ investment portfolio using on-chain proof of reputation.

Per the statement, Animoca Brands and its portfolio companies, including Moca Network, will enrich the TON ecosystem with consumer content focused on culture and entertainment as part of the deal.

Source : DailyCoin - Jul 22, 2024