NFT projects are growing and becoming more popular with Web3 users. However, they have not yet gained much popularity from the crypto community due to their limited applications. Therefore, Mocaverse was born to solve this difficult problem. In this article, Unich Analyst and readers will learn about what Mocaverse is.

What is Mocaverse?

Mocaverse is an NFT ecosystem developed by Animoca Brands, with the goal of narrowing the gap between Web3 users. This ambitious ecosystem, built on a foundation of diverse and innovative products, promises to become a prominent hub to connect Web3 users and expand the application of NFT.

Mocaverse core products

Mocaverse NFT collection

This collection includes 8,888 NFTs representing “Mocas,” animated characters whose themes are rooted in the Web3 world.

5 Tribes: These Mocass are categorized into five distinct tribes, each representing a unique archetype within the Web3 space:

• Dreamers: Individuals with a relentless passion for vision.
• Builders: Architects and developers who drive innovation.
• Angels: Patrons and supporters.
• Connectors: Bridge builders and network connectors.
• Neo-Capitalists: Pioneers in decentralized finance.

Each tribe possesses unique abilities, but when combined, their power is amplified, creating a vibrant and engaging collection.

Moca ID

• DID system: Moca ID serves as a decentralized identification system (DID), facilitating user identity verification in the Web3 space.
• Cryptocurrency wallet integration: The system is seamlessly integrated with the cryptocurrency wallet, providing users with a smooth and convenient path to participate in ecosystem activities.
• Get Moca ID: Users can get Moca ID for free by owning Mocaverse NFTs or through Invite Codes provided by existing NFT owners.

Mocana

• Task system: Mocana offers a series of tasks for users who own Mocaverse NFTs or Moca IDs, allowing them to earn Realm Points (RP).
• Encourage exploration: These tasks are strategically designed to engage users and encourage them to explore the complex aspects of the ecosystem.
• Realm Points (RP): RP plays an important role in airdropping tokens to users, acting as a key factor in the distribution process.

Mocaverse highlights

• The power of Animoca Brands: Developed by Animoca Brands, a leading force in the gaming, NFT, and metaverse industries, Mocaverse benefits from a solid foundation and strong support.
• NFT owner benefits: Mocaverse NFT and Moca ID owners enjoy many privileges, including:
  • Access to exclusive games in the ecosystem.
  • Opportunities to contribute ideas and suggestions to the project.
  • Eligibility for token airdrops.
  • Priority access to new products and services.
• Token airdrop: Mocaverse has successfully airdropped tokens to users who actively participate in ecosystem activities, driving enthusiasm and attracting community interest.
• Diverse ecosystem: Mocaverse is building a diverse and dynamic ecosystem by introducing a variety of products and services, enriching user experiences.
• Community engagement: Mocaverse prioritizes establishing a strong and connected community, facilitating interaction through a variety of activities and events.

Moca Token information

• Token name: Moca
• Token symbol: MOCA
• Blockchain: Ethereum
• Contract: 0xF944e35f95E819E752f3cCB5Faf40957d311e8c5
• Total supply: 8,888,888,888 MOCA

Token allocation

• Network incentives: 31.5%
• Ecosystem & Treasury: 20%
• Strategic partners: 13%
• Development team: 12%
• Liquidity: 10%
• Advisors: 7%
• Operating costs: 5%
• Community sale: 1.5%

MOCA token applications

• Includes gas fees for transactions within the platform.
• Provides access to exclusive experiences offered by the project.
• Serves as a means of payment for products and services offered by partners.
• Allows users to earn rewards.
• Empowers users to vote on project updates and changes.

Development team

• Yat Siu: Chairman and CEO of Animoca Brands.
• Timmy Chan: CEO of Animoca Brands.
• Cassie Chan: Chief Marketing Officer of Animoca Brands.
• Tyler Durden: Project Lead of Mocaverse.

Investors

Mocaverse has successfully raised $38,690,000 through three rounds of funding from leading investment funds in the market such as OKX Ventures, P2 Ventures, Dapper Labs, etc. This is a positive point showing that the project has high prospects in the future.

Onchain analysis

MOCA net deposit on CEX

Since MOCA opened the deposit and withdrawal portal on CEX, the MOCA token is currently still recorded as a net deposit of about 100 million MOCA tokens on the exchange. This is not a very positive signal for MOCA because CEX is a place with good liquidity for investors who do not intend to hold long-term to sell their tokens.

Token holders drop sharply

The number of $MOCA holders continues to decrease from 4900 to 3300 holders as the token price continues to increase. Along with that, the number of MOCA tokens deposited on the CEX exchange increases, meaning that holders are taking profits and there are no signs of buying back MOCA. This is not a positive signal for those holding this token.

Personal opinion

Pros

• Backed by Animoca Brands: Animoca Brands is one of the leading investment funds in the blockchain, metaverse, and gaming sectors. The support of Animoca Brands brings prestige, experience, and significant financial resources to Mocaverse.
• Diverse ecosystem: Mocaverse offers a variety of products and services, including NFTs, decentralized identification systems (DIDs), and task systems, attracting many different types of users.
• Attractive token airdrop program: Mocaverse has implemented a token airdrop program for users participating in activities in the ecosystem, creating motivation and attracting the attention of the community.
• Unique Realm Points (RP) system: RP is a reward for users participating in tasks in the ecosystem, helping to encourage user interaction and exploration.
• Wide network of partners: Mocaverse cooperates with many prestigious partners in the blockchain and Web3 fields, expanding the network and increasing market access.
• Ambient vision of interoperability: Mocaverse wants to create an ecosystem that connects web2 and web3, allowing users to use the same account, identity, reputation, and digital assets everywhere.

Cons

• Fierce competition in the NFT market: The NFT market is very competitive with many new projects emerging every day. Mocaverse needs to demonstrate its unique differentiation and value to attract users.
• Lack of clarity about the MOCA token: The project has yet to provide full information about the MOCA token, including the blockchain, contract, token release schedule, and how the token will be used. This can make it difficult for investors to evaluate the project’s potential.
• Need to demonstrate the feasibility of the Realm Network: The Realm Network is an important part of Mocaverse, but the project still needs to demonstrate its feasibility and ability to attract partners and users to join the ecosystem.
• Risks of the crypto market: The crypto market is inherently volatile and risky. The Mocaverse project is also affected by the fluctuations of this market.

Conclusion

Overall, Mocaverse is a potential project, backed by Animoca Brands and has a bold vision for interoperability. However, there are still many problems that Mocaverse needs to face in the near future for the project to develop further. Above is all the information about the project that Unich Analyst has compiled. Hope the article is useful to readers.