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

Hong Kong SAR, December 13, 2023 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.

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