TON Foundation Partners With Mocaverse To Launch $20M Initiative, Supporting TON Ecosystem
In Brief
TON Foundation partnered with Mocaverse and MOCA Foundation to establish a $20 million MOCA and TON token reserve.
Organization overseeing the growth of projects on The Open Network (TON) blockchain, the TON Foundation unveiled that it has partnered with the Web3 project Mocaverse (MOCA), a subsidiary of Animoca Brands, a game software company and venture capital firm, as well as with the community-owned cultural foundation MOCA Foundation.
Together, they are establishing a $20 million MOCA and TON token reserve. This fund will be leveraged to encourage community member engagement with the TON ecosystem via collaborative initiatives such as The Open League, hackathons, along with accelerator programs.
TON represents a network designed for integration with the messaging platform Telegram. As a result of recent growth in Telegram-based Web3 games, the blockchain’s native token, TON, has achieved a market capitalization of $18 billion.
Animoca Brands And MOCA Foundation Expand Partnership With TON To Boost Web3 Adoption
The both foundations will use their go-to-market strategies and token resources to encourage interaction of individuals throughout their ecosystems. This partnership will enable Animoca Brands and Mocaverse to highlight the advantages of releasing and incorporating with the TON blockchain and their partners involved in gaming projects.
Through this development, both ecosystems will gain new tools, users, and funding, advancing their shared objective of widespread Web3 adoption. Furthermore, Animoca Brands, along with its portfolio companies and Moca Network, will contribute cultural and entertainment-focused content to the TON Ecosystem, which serves the Web3 infrastructure of Telegram and has more than 900 million active users.
The latest collaboration represents a further advancement in the ongoing partnership. Recently, Animoca Brands became the largest validator for TON, incorporating TON’s infrastructure and community. The organization is committing time, energy, and resources to promote TON’s adoption and showcase its potential as a leading solution for GameFi as well as blockchain gaming.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
