As Animoca Brands’ flagship Web3 project, Mocaverse aims to create a cross-project resource-sharing network by integrating the company’s portfolio, subsidiaries, joint ventures, partners, and user base. Through core features like Mocaverse NFTs, Moca ID, and the Moca Hive Network,
Mocaverse consolidates premium teams within the Animoca Brands ecosystem, forming a neuron-like subnetwork for information sharing that accelerates the development of subsidiary projects in the Web3 domain. Additionally, users can access various services through Moca ID, facilitating effective sharing within the Mocaverse ecosystem and making Moca ID a primary gateway into the Web3 world.
As the creator of Mocaverse, Animoca Brands holds a leading position in the blockchain and metaverse fields, with extensive experience and numerous investments. Its pioneering status in cutting-edge technologies and applications such as NFTs, GameFi, and the Metaverse will undoubtedly provide strong momentum for Mocaverse’s development, helping it become a crucial hub in the Web3 era.
Project Overview
The project team
information for this initiative has not been officially disclosed through official channels. According to publicly available information, the project is wholly founded and operated by the parent company Animoca Brands, relying on Animoca Brands’ rich experience in the blockchain and metaverse domains, as well as its strong development and operational capabilities, to provide robust support and assurance for the project’s growth.
Financing Situation
Since September 2023, Mocaverse has completed three rounds of financing:
- The first round took place in September 2023, securing an investment of $20 million, led by CMCC Global, with participation from GameFi Ventures, Kingsway Capital, Gabby Dizon (co-founder of YGG), Aleksander Larsen (co-founder of Sky Mavis), and other institutional and individual investors.
- The second round was completed in December 2023, raising $11.89 million, with investments from OKX Ventures, Polygon Ventures, Dapper Labs, Foresight Ventures, and Block.One.
- The most recent round of financing occurred from April 25 to May 3, 2024, on Coinlist, raising $5 million with several times over-subscription. A total of 126,984,127 tokens were sold at $0.04 each, with a reference FDV of $350 million. After the token issuance, 5% were immediately unlocked, with the remainder subject to a three-month lock-up period, followed by a linear unlock over 52 weeks.
In summary, the investor lineup attracted by Mocaverse in the first two rounds of financing is considered top-tier within the industry, demonstrating the project’s excellent strength and broad prospects in the metaverse domain, and it is expected to become a star project in the Web3 field.
Core Product
Mocaverse NFT
Mocaverse NFTs are reserved for friends and family of Animoca Brands, including the following eligible parties:
1. Institutional and retail investors of Animoca Brands
2. Employees of Animoca Brands and its subsidiaries
3. Management teams of companies in the Animoca Brands Web3 investment portfolio
4. Partners of Animoca Brands
5. Members of the Mocalist
All eligible parties will receive both free and paid minting quotas. Categories 1–4 are invited via internal email, while the fifth category can earn Realm Ticket Miles by holding specified tokens of Animoca Brands in their wallet or through social media interactions, which are then used to enter a lottery system.
The total supply of Mocaverse NFTs is 8,888, with 0.6% listed for sale on Opensea at a floor price of 4 ETH.
Mocaverse NFTs are divided into five roles:
- Dreamers: Bring cutting-edge ideas and visions to propel innovation in the Web3 space, representing entrepreneurial teams in Web3;
- Builders: Focus on duty and dedication to construct the infrastructure of the new Web3 world, representing development teams in Web3;
- Angels: Keen on discovering value and supporting ventures, injecting vitality into the Web3 ecosystem, representing investment teams in Web3;
- Connectors: Gather the community and foster an engaging atmosphere, infusing life into the Web3 vision, representing community-building teams in Web3;
- New Capitalists: With extensive experience, design innovative value distribution mechanisms, providing intellectual support for the development of Web3, representing advisory teams in Web3.
The official website currently offers NFT holders some simple tasks that can be completed to earn XP points, which can be exchanged for final rewards. However, these rewards currently do not seem sufficiently attractive. More appealing rewards should focus on business support, such as:
- Learning: Participate in masterclasses and AMA (Ask Me Anything) sessions hosted by industry leaders to gain professional insights and access to educational research.
- Entertainment: Access exclusive gaming passes, unique in-game assets, and airdrops.
- Philanthropy: Engage in meaningful social and charitable activities.
-Building: Gain access to resources and tools necessary for Web3 builders.
This equity design reflects the value of NFTs in connecting real business resources, providing professional services, and stimulating community participation. This comprehensive design of benefits is beneficial for promoting the holistic development of NFT holders and contributing to the Web3 ecosystem.
Moca ID
Moca ID is a decentralized identity (DID) that allows holders to access over 450 portfolio companies of Animoca Brands and our growing partner ecosystem. Using various products through Moca ID, holders can earn points and credibility scores:
- Points can be exchanged for exclusive benefits unique to Moca ID holders.
- Credibility scores receive priority consideration in business collaborations within the ecosystem.
Moca ID creates a comprehensive scoring and credibility ranking system for each user based on richer user behavior and data, aiming to create a more comprehensive ID system that truly represents their digital identity. This innovative identity information system has the following professional features:
- Multidimensional Identity Profile: Integrates various behavioral data and information assets of users to construct a comprehensive and dynamic digital identity.
- Credit Assessment Mechanism: Establishes scores and credibility levels based on user behavior, reflecting the user’s credit status within the Web3 ecosystem.
- Identity Value Application: Provides users with richer benefits and services, enhancing their participation and influence in Web3.
Overall, the goal of Moca ID is to transform the target audience of 700 million users of Animoca Brands partner enterprises into valuable members of the Web3 ecosystem through the Moca ID identity system.
Ways to Obtain Moca ID
Currently, Moca ID registration is not open to the public. The primary ways to obtain it are:
1. Owning a Mocaverse NFT: NFT holders will receive an ID and three invitation codes.
2. Marketing and Social Media: Obtain invitation codes through official marketing campaigns and social media activities.
3. Using Invitation Codes: Acquire invitation codes from NFT holders.
Innovation in Models
Business Resource Integration
Mocaverse integrates business resources through Mocaverse NFTs, showcasing innovation primarily in the following aspects:
- Clear Role Definition: Mocaverse divides participants in Web3 construction into five roles: Dreamers, Builders, Angels, Connectors, and New Capitalists. This detailed role distinction clearly separates key players such as entrepreneurial teams, development teams, investment teams, community teams, and advisory teams within the Web3 domain, optimizing their responsibilities and leveraging their strengths.
- Ecosystem Resource Integration: Mocaverse integrates quality teams within the Animoca Brands ecosystem, forming a neuron-like subnetwork for information sharing that accelerates the development of subsidiary projects in the Web3 field.
- Empowerment Collaboration Model: Through the Moca network, Mocaverse achieves deep collaboration among quality teams in the Web3 domain with an empowerment-focused cooperation model, effectively stimulating the enthusiasm and creativity of all parties involved.
User Resource Integration
Moca ID, as a core component of the Mocaverse ecosystem, plays a crucial role in connecting users with the Web3 world. Through Moca ID, users can access more than 450 of Animoca Brands’ investment companies and an expanding partner ecosystem, accumulating points and credibility scores during use. Points can be exchanged for various exclusive benefits, while credibility scores receive priority consideration in business collaborations.
This points and credibility reward mechanism helps cultivate users’ habits of accessing Web3 applications using Moca ID. Driven by this, the 700 million users of the Animoca Brands ecosystem will gradually converge on Mocaverse, accessing various services through Moca ID. This achieves effective sharing within the Mocaverse ecosystem and makes Moca ID a core gateway for connecting participants in the Web3 world.
Hive Network
Mocaverse is building a cross-project resource-sharing mechanism through the Moca network. Specifically, the Moca network integrates various Web3 projects as subnets, forming a hive-like information system architecture.
In this network, each subnet node can effectively share business resources and user groups. On one hand, business resources within the Animoca Brands ecosystem, such as technology, services, and collaborative opportunities, can freely circulate between subnets, enhancing collaborative development capabilities. On the other hand, the Moca network also achieves seamless user integration across subnets, allowing users to move freely between different subnets, obtaining a unified equity and service experience.
The architectural design of the subnets fully leverages the connectivity advantages of the Moca network. It not only enhances the efficiency of resource integration within the Animoca Brands ecosystem but also provides users with a more seamless cross-application experience. This innovative practice helps promote synergistic development within the Mocaverse ecosystem and injects new vitality into the Web3 field.
Ambitions of Animoca Brands
Animoca Brands is building a self-sufficient, closed-loop ecosystem with Mocaverse, reflecting its profound layout and ambitions in the metaverse domain.
MOCA Token
Token Overview
The Mocaverse project token is MOCA, with a total issuance of 8,888,888,888 tokens. The token has not yet been listed on any exchange, with a public offering price on Coinlist of $0.04 and an FDV valuation of $350 million.
Official data indicates that after the token is officially issued, the initial circulation will be 8%, but this initial circulation percentage is likely to be adjusted when listed on exchanges. Token distribution and initial circulation details are shown in Figure 3–1.
From the currently published token distribution data, it is not yet clear whether Mocaverse NFT and Moca ID holders will receive token airdrops.
Token Usage
MOCA is a fungible token based on the LayerZero v2 protocol, serving as both a utility and governance token within the network. Specific uses of the token include:
-Governance Voting: Voting on Moca Improvement Proposals (MIPs) within the Moca DAO.
-Payment Currency: Used as a means of payment for partner products and services, such as in-game payments, and minting new assets on Moca LaunchPad.
-Network Gas: Used to pay for network gas fees on the mainnet or subnets.
- Loyalty Proof: Users can demonstrate their loyalty in the Moca Network through a combination of MOCA tokens held and the duration of holding, thereby earning priority in ecosystem rewards and new asset minting events on Moca LaunchPad.
Project Risks
The sole risk for Mocaverse is the potential inadequacy of Animoca Brands’ resource integration capabilities.
Conclusion
In summary, Animoca Brands is building a closed-loop ecosystem through Mocaverse that possesses rich resources and a vast user base, which is expected to drive rapid development of Mocaverse. Many investors have not yet fully realized the position and value of Mocaverse within the vast ecosystem of Animoca Brands. Given Mocaverse’s strategic position and future prospects, both MOCA tokens and Mocaverse NFTs are currently undervalued in the market. Therefore, for investors interested in the development of the Web3 industry, both MOCA tokens and Mocaverse NFTs are worth further attention and in-depth research. By capitalizing on Mocaverse, a core asset within the Animoca Brands ecosystem, significant investment returns are anticipated.
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