- Toncoin blockchain has announced a strategic partnership with Animoca Brands to revolutionize decentralized identity
- This integration aims to include MOCA ID into Ton’s blockchain.
Ton blockchain has announced a strategic partnership with Animoca Brands, a leading player in the gaming and blockchain industry to increase user action via a decentralized identity (DID) system.
Two days ago, we announced TON Foundation’s strategic partnership with @animocabrands’ @MOCAFoundation!
But why is this a big deal?
pic.twitter.com/2aE2b7X5Qi
— TON
(@ton_blockchain) July 24, 2024
This calculated collaboration aims to utilize the combined efforts of Mocaverse, a consumer network backed by Animoca Brands (one of Ton’s top validators since last year), and Ton Blockchain to include MOCA ID in the Ton Blockchain.
Steve Yun TON Foundation council President highlighted the significance of this partnership as it will cement Ton’s position as a leader in the web 3 and gaming industry.
This partnership validates that TON has become the platform of choice for games and social apps. The reputation system we co-create will become a powerful opt-in platform through which users can express their identity and values on-chain.
Ton Blockchain and Mocaverse Eye Up 500M Users by 2028
This collaboration between Ton Blockchain and Mocaverse envisions a substantial 1.6 million users. This massive population consists of Telegram’s 900 million users and Mocaverse’s extensive network of over 700 million users.
Yat Siu, executive chairman and co-founder of Animoca Brands pinpointed the shared mission between the two companies of promoting Web3 adoption and digital property rights. “This unique partnership between Telegram and the TON Foundation and the collaboration revealed today provide an opportunity to bring Moca ID and the Realm Network SDK to Telegram’s 900 million users, which we believe could exponentially magnify all our respective network effects,” Siu stated.
This collaboration is a big step forward in the cryptocurrency field, as both foundations, TON, and MOCA, will use their go-to-market and token resources to promote user cross-pollination and involvement within their respective ecosystems.
This strategic partnership also plans to blend genetics in a manner that it will onboard users across the networks. This blend will be successful via cultural verticals such as social casual gaming, sports, and intellectual property experiences. Additionally, the two plan to launch co-branded hackathons to boost the program. As CNF earlier reported, TON has been on the frontline in hosting hackathons with the most recent being of Leading NFT marketplace APENFT. These hackathons help accelerate the TON ecosystem while at the same time gaining more exposure.
Additionally, This initiative aims to deploy Mocaverse’s interoperable SDK product and Telegram’s recently launched mini-app platform, which has seen TON’s adaption surge by massive numbers. The aforementioned products aim to bring into play higher user engagement and adoption.
This significant collaboration will be one step among many and is part of a larger process to revolutionize the way digital identities are managed and utilized. Backed by the humongous telegram following, this collaboration aims to provide a robust decentralized identity solution to 500 million users.
At the time of writing TON is changing hands at $6.61 marking a 5.23% drop in the last 24 hours.
