OKX Ventures Announces Investment in Animoca Brands' Mocaverse to Co-Build Growth in the X1 zkEVM Layer 2 Network

HONG KONG, Dec. 13, 2023 /PRNewswire/ -- OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, has announced its investment in Mocaverse, a Web3 ecosystem project developed by Animoca Brands, to co-build Mocaverse projects on OKX's newly announced zkEVM Layer-2 network, X1, highlighting a shared commitment to scaling the global blockchain ecosystem and fostering a more interconnected Web3 world.

Through the partnership, OKX will provide Mocaverse's 400 projects and diverse ecosystem with access to X1 to integrate decentralized applications (dApps) on the network and leverage OKX's global user base of over 50 million. The strategic move by OKX and Animoca Brands to build synergies between X1 and Mocaverse is intended to support the growth of the developer community and participants to build on X1.

Since its inception, Mocaverse has established itself as a gateway for collaborations and connections within the Animoca Brands ecosystem, and will serve as an interoperable meta experience layer for Web3 identity, social, and growth. Mocaverse users will be empowered to create their own digital Moca ID identity, accrue reputation, and earn and spend Realm Points by engaging within the Mocaverse ecosystem, seeded by Animoca Brands' more than 400 portfolio companies and its partner network with over 700 million addressable users.

Built with the Polygon Chain Development Kit (CDK), X1 launched its testnet on November and uses OKX's native token, OKB, for gas fees.

OKX Ventures Partner Jeff Ren said: "We're excited to invest in Mocaverse, a project that represents Animoca Brand's vibrant ecosystem. Mocaverse, together with OKX's X1, forms a powerful combination that will offer innovative solutions in the Web3 space. This strategic investment demonstrates our dedication to promoting the growth and development of the blockchain industry and developer space."

Animoca Brands co-founder and Executive Chairman Yat Siu commented: "We're thrilled to have the leading platform OKX as an investor as we build the Mocaverse ecosystem. This partnership will foster a strong foundation that bridges the OKX and Animoca Brands ecosystems through Mocaverse to empower the next generation of Web3 builders and projects."

To learn more about Mocaverse, click here.

About OKX Ventures

OKX Ventures is the investment arm of leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

Find out more about OKX Ventures here.

About OKX

OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being one of the fastest and most reliable crypto apps in the world.

As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.

The OKX Wallet is the platform's latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.

OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.

To learn more about OKX, download our app or visit: okx.com

About Animoca Brands

Animoca Brands, a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and one of the Financial Times' High Growth Companies Asia-Pacific 2023, is a Web3 leader that leverages blockchain to deliver digital property rights to consumers around the world to help establish the open metaverse. The company develops and publishes a broad portfolio of products including original games such as The Sandbox, PHANTOM GALAXIES™, Life Beyond, and Crazy Defense Heroes, and products utilizing popular intellectual properties from the worlds of sports and entertainment, such as The Walking Dead, Power Rangers, MotoGP™, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, Be., PIXELYNX, WePlay Media, and Gryfyn. Animoca Brands is one of the most active investors in Web3, with a portfolio of over 400 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, Alien Worlds, and many more. For more information visit www.animocabrands.com or follow on X (Twitter) or Facebook.

Disclaimer

source: OKX Ventures