In this post:
- Animoca Brands’ Mocaverse recently partnered with South Korean company SK Planet to co-create web3 experiences by leveraging the existing SK Planet internet services.
- SK Planet is also planning to use the Mocaverse Foundation token, MOCA Coin, and will be the first crypto used on the SK Planet ecosystem.
- Animoca Brands has been raising funds to fuel some of its services, with the latest being $10 million raised to progress the Moca Network.
Animoca Brands announced on November 26 that its web3 platform Mocaverse was partnering with the South Korean information and communication technology company SK Planet to co-create wen3-enabled user experiences. The partnership and development process will take place within the existing SK Planet internet services while leveraging the Mocaverse Realm SDK.
The collaboration will allow SK Planet to onboard its 28 MIllion KYC-’d customers to Web3 by integrating the Mocaverse Realm SDK into its digital ecosystem. The full-stack Realm SDK will also include the Account, Identity, and Reputation layer, helping users enjoy interoperability across different chains.
SK Planet can access Animoca Brands’ over 570 portfolio companies and over 80 Moca Network partners. The data and tech company will also join as a Realm SDK partner, working alongside Animelist and One Football. Some services users will access include gaming, sports, music, and more.
Mocaverse is a branch of Animoca Brands working toward web3 exposure for customers through experiences and rewards. SK Planet is one of the leading information and technology companies in South Korea, with services, such as its Web3 wallet UPTN Station and its rewards program OK Cashbag.
SK Planet plans to integrate MOCA coin
SK Planet also plans to integrate the Moca Foundation native currency, MOCA Coin, as a utility token for its internet services. The coin will be the first cryptocurrency to be used on the SK Planet ecosystem. SK Planet will also use MOCA Coin for user rewards across its services, including through its rewards platform OK Cashbag.
SK Planet’s CBO, Kim Kyo-soo, mentioned that the partnership would help the company expand its services for South Korean consumers. Kyo-soo also promised the SK Planet consumers more innovative products that resonate with user needs and demands.
Mocaverse’s project lead, Kenneth Shek, also expressed delight in the partnership. Shek explained that the partnership could fuel the Mocaverse ecosystem and its goals. The Mocaverse project lead also pointed out South Korea’s abundance of IP and content, making it a significant market for web3 services. Shek mentioned that SK Planet stood as a favorable partner to explore the environment.
Animoca Brands raises more funds to fuel Mocaverse’s growth
Animoca Brands raised more funds for Mocaverse on November 12, totaling $10 million. The funding is the first major round the company has had for Mocaverse since last year. Animoca Brands announced in December last year that the total investments received in 2023 amounted to about $31 million. Some of the biggest contributors during the most recent funding phase included CMCC Global, OKX Ventures, HongShan, Kingsway Capital, Republic Digital, and Decima Fund.
The primary purpose of the funding was to fuel and expand Mocaverse’s operations. Animoca Brands revealed that it would direct the funds toward boosting Web3 mass adoption while building the infrastructure for better interoperability. A significant focus will be on the interoperability infrastructure layer supporting Account, Identity, and Reputation systems. The development will also cover the Mocaverse Realm SDK.
The company’s announcement further touched on other developments witnessed this year, including the launch of Moca ID. Animoca Brands described Moca ID as an identity system for the Realm SDK. The announcement revealed that over 1.79 million IDs have been registered through the decentralized identity system. The company also mentioned that over 160 Web3 were launched with Animoca Brands partners, including the Trust Wallet, Pixels, and OKX Wallet.
Animoca Brands’ executive chairman and co-founder, Yat Siu, explained the opportunities presented by the Moca ID system. According to Siu, digital lives will become the platforms of many users. The company’s exec chairman also mentioned that users will have sole rights over the platforms and the benefits they offer web3.
