Two subsidiaries of gaming and metaverse firm Animoca Brands have partnered with the TON Foundation to integrate identity and reputation networks into the Moca Network and TON blockchain ecosystems.
Two Animoca Brands Affiliates Partner with TON Foundation
This collaboration aims to improve user interaction and interoperability between the two platforms.
The two Animoca subsidiaries involved in the partnership are Mocaverse, a blockchain-based identity project, and the MOCA Foundation, which oversees the cryptocurrency project MOCA Coin (MOCA).
As part of the partnership, MOCA Foundation and TON Foundation signed a token swap agreement between MOCA and TON to promote increased user activity in both ecosystems.
“TON's vision of freedom of interaction is strategically aligned with Animoca Brands' focus on digital property rights,” said Steve Yun, TON Foundation Council President.
This partnership confirms that TON has become the platform of choice for games and social applications. “The reputation system we have created together will become a powerful engagement platform where users can express their identities and values on-chain,” he said.
The Open Network (TON) is a blockchain network designed for use on the messaging platform Telegram. Following the rapid growth of Telegram web3 games, the blockchain's native token Toncoin has reached a market cap of $18 billion.
This strategic partnership between Animoca Brands' subsidiaries and the TON Foundation is expected to foster innovation and user engagement in the digital identity and gaming sectors by leveraging the strengths of both ecosystems.
*This is not investment advice.