SK Planet and Animoca Brands’ Mocaverse Partner to Onboard 28 Million KYC’d Customers to Web3

In this post: 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.

South Korean information and communication technology company SK Planet has announced a partnership with Animoca Brands’ web3 platform Mocaverse to co-create user experiences within the existing SK Planet internet services, leveraging the Mocaverse Realm SDK.

The partnership will enable SK Planet to integrate the Mocaverse Realm SDK into its digital ecosystem, onboarding its 28 million KYC-’d customers to Web3. The full-stack Realm SDK will also include the Account, Identity, and Reputation layer, facilitating interoperability across different chains.

As a Realm SDK partner, SK Planet will gain access to Animoca Brands’ portfolio of over 570 companies and over 80 Moca Network partners. The data and tech company will join Animelist and One Football in offering services ranging from gaming, sports, and music.

Mocaverse aims to provide mass-market exposure to web3 through experiences and rewards, while SK Planet is known for its Web3 wallet UPTN Station and its rewards program OK Cashbag.

SK Planet plans to integrate MOCA coin

SK Planet will also integrate the Moca Foundation native currency, MOCA Coin, as a utility token for its internet services, making it the first cryptocurrency to be used on the SK Planet ecosystem.

The company will also utilize MOCA Coin for user rewards across its services, including through its rewards platform OK Cashbag.

SK Planet’s CBO, Kim Kyo-soo, stated that the partnership will expand the company’s services for South Korean consumers, promising more innovative products that align with user needs.

Mocaverse’s project lead, Kenneth Shek, expressed enthusiasm for the collaboration, highlighting its potential to bolster the Mocaverse ecosystem and its goals.

Emphasizing South Korea's strong IP and content presence, Shek noted the significance of the market for web3 services and the suitability of SK Planet as a partner to explore the landscape.

Animoca Brands raises more funds to fuel Mocaverse’s growth

Mocaverse secured a latest tranche of funding of US $10M led by @OKX_Ventures, HongShan (formerly Sequoia China), & @CMCC_Global at US$ 1B valuation to scale Mocaverse's infrastructure to become the global Account, Identity, and Reputation layer 🪪The investment was followed… pic.twitter.com/YpD3iVJC7q

Earlier this month, Animoca Brands raised an additional $10 million in funding for Mocaverse.

This marks the first major round of funding for the company’s web3 mass-market platform since last year, when Animoca Brands announced in December to have received a total of $31 million in investments for 2023.

Some of the biggest contributors during the most recent funding phase include CMCC Global, OKX Ventures, HongShan, Kingsway Capital, Republic Digital, and Decima Fund.

The primary purpose of the funding is to fuel and expand Mocaverse’s operations, with Animoca Brands revealing that the funds will be directed toward boosting Web3 mass adoption and building the infrastructure for better interoperability.

A significant focus will be on the interoperability infrastructure layer supporting Account, Identity, and Reputation systems, a development that will also cover the Mocaverse Realm SDK.

The company’s announcement also briefly touched upon other developments witnessed this year, including the launch of Moca ID, an identity system for the Realm SDK.

According to the announcement, over 1.79 million IDs have been registered through the decentralized identity system, while over 160 Web3 were launched with Animoca Brands partners, such as the Trust Wallet, Pixels, and OKX Wallet.

“Digital lives will become the platforms of our users, who will own and benefit from these platforms in web3, thanks to the opportunities presented by Moca ID,” Animoca Brands’ executive chairman and co-founder, Yat Siu, explained.