Mocaverse announces strategic partnership with MOCA Foundation and TON Foundation

BlockBeats news, on July 22, according to the official announcement, Animoca Brands' Mocaverse announced a strategic partnership with the MOCA Foundation and the TON Foundation to implement an identity- and reputation-based consumer network in the Moca Network and TON blockchain ecosystem.

In parallel with the strategic cooperation, the MOCA Foundation and the TON Foundation have executed a strategic base-level token exchange agreement to exchange MOCA Coin (MOCA) at a price of $0.113 per coin (i.e. 88,888,888 MOCA tokens). To incentivize the development of the ecosystem and the interoperability of users and projects between the two ecosystems.

Mocaverse, the MOCA Foundation, and the TON Foundation will establish a steering committee to drive partnership initiatives and fund management for ecosystem growth.

The Steering Committee will use TON and MOCA obtained from the token swap agreement, with a total value of US$20 million, to promote interaction between users and drive user growth to the TON ecosystem through the PointFi system and guided applications.