MOCA goes live on major exchanges. What’s known about Mocaverse, backed by Animoca Brands?
The Mocaverse project token, MOCA, has begun trading on well-known centralized exchanges, including KuCoin, Gate, HTX, Coinlist, Bitget, MEXC, and Bitmart.
Trading began with a MOCA rate of $0.088. Listing on several major centralized exchanges is expected to increase MOCA’s visibility and significant trading volume, attracting a wider audience of investors and users.
Mocaverse will also introduce a staking feature alongside a Token Generation Event (TGE). Users can stake MOCA tokens to receive staking power or “soft stake.” MOCA Saving 1.0 participants will be able to accumulate staking power at a rate of 0.000001 per second.
“Staking Power grants holders exclusivity in terms of experiences and rewards. Higher Staking Power means better access to reward pools.”
Animoca Brands blog
A 50% early staking boost will be available from July 11 to July 25 to encourage early participation. However, withdrawing MOCA coin from staking during this period will reset the bonus staking power to zero.
What is Mocaverse?
Mocaverse is a project that aims to connect the company’s portfolio projects, subsidiaries, joint ventures, and partners through a unique collection of NFTs. MOCA NFT collection consists of 8,888 of characters named Moka, each of whom belongs to one of five factions: Angels, Builders, Dreamers, Connectors, and Neo-Capitalists.
Mocaverse members have access to the various features that allow them to learn, play, do well, and build. These include access to online training courses, interactive AMA sessions, game passes, in-game assets, and an acceleration program designed to develop projects. The platform also promotes social responsibility by encouraging NFT holders to participate in charitable projects.
Mocaverse also features Moca ID, a decentralized identification system (DID) that integrates with crypto wallets, making communication and collaboration within the ecosystem easier.
Mocaverse is governed through the Moca DAO, whose NFT owners exercise their rights to propose, vote, and implement changes, providing community-based governance and decision-making.
In addition, the project offers Mocana Missions, web3 platforms through which users can earn points for participating in various interactive and gaming activities. These missions are designed to keep users engaged in the ecosystem, and rewards are awarded upon successful completion.
Who is behind Mocaverse?
Mocaverse is a new NFT ecosystem from Animoca Brands designed to support a unified web3 community. Animoca Brands, a significant representative in the field of digital entertainment and blockchain games, operates metaverse leader The Sandbox and other web3 projects. Its portfolio includes more than 300 cryptocurrency and blockchain projects of various types.
In September 2023, Animoca Brands raised $20 million for the Mocaverse project through an additional issue of common stock.
CMCC Global led the funding round. The list of investors also included Kingsway Capital, Liberty City Ventures, GameFi Ventures, and several individuals, including Animoca Brands executive chairman and co-founder Yat Siu.
As part of the fundraising, the company signed simple agreements with investors for future equity capital, providing corresponding warrants in the form of utility tokens.
The funds received were used to promote the project, including product development and implementing web3 and partnership programs to expand the gaming, cultural, and entertainment ecosystem.
What’s happening to the NFT market?
According to the DappRadar analytical platform, in the second quarter of 2024, the volume of sales in the market of non-fungible tokens increased. Sales rose 28%, reaching levels last seen in early 2023. Between April and June 2024, $4 billion worth of NFTs were sold, up 3.7% from the fourth quarter of 2023.
DappRadar blockchain analyst Sara Gherghelas emphasized that Blur remains the most popular NFT platform, with a 31% market share. However, the platform has lost almost 50% of its dominance since the last quarter.
Magic Eden is in second place, having succeeded thanks to Ordinals, which increased the platform’s dominance from 17% to 22%. OpenSea ranks third, although Gherghelas notes that the trading platform leads as the most popular NFT marketplace in terms of sales volume with a market share of 12%.
“The top 5 NFT collections by trading volume this quarter remain largely unchanged from the previous quarter, with the notable exceptions by Runestone and fantasy.top. Both of these collections have enjoyed incredible success and popularity in Q2 2024.”
Sara Gherghelas, DappRadar blockchain analyst
What is Mocaverse planning?
The Mocaverse developers still need to publish a roadmap, and the exact plans for the project in the coming years can only be guessed. However, the big name of Animoca Brand, a recognized giant in the web3 industry, supports faith in the project.
One way or another, the community eagerly awaits news from the project regarding its immediate plans and long-term vision.
