OKX Ventures Collaborates with Mocaverse on Development Initiatives for X1 zkEVM Layer 2 Network

A leading crypto exchange and a company specializing in Web3 technology OKX ‘s investment arm OKX Ventures , announced its investment in Mocaverse — a Web3 ecosystem project developed by Animoca Brands for the joint development of Mocaverse initiatives on the innovative zkEVM Layer 2 network by OKX, X1 . 

The recently unveiled X1, constructed using the Polygon Chain Development Kit (CDK), kicked off its testnet last month. This network employs OKB, the native token of OKX, as part of its transaction fee structure. network This setup facilitates secure deployment of decentralized applications (dApps) while ensuring compatibility with a wide range of smart contracts, wallets, and developer tools.

The undisclosed funding underscores a mutual dedication to expanding the global blockchain landscape and nurturing a more integrated Web3 environment. Besides the investment, a strategic partnership has also been established between the two entities.

A Collaborative Effort to Enhance Mocaverse Through X1 Network Integration

Through this exciting partnership, OKX will enable Mocaverse's impressive portfolio of 400 projects and its diverse ecosystem to tap into the X1 network, facilitating the integration of dApps and offering access to OKX's vast global user base, which exceeds 50 million individuals.

The strategic move by OKX and Animoca Brands The collaboration seeks to create synergies between X1 and Mocaverse, with an aim to bolster the growth of the developer community, encouraging more participants to build on the X1 network.

Since its launch, Mocaverse has emerged as a central hub for partnerships and networking within the Animoca Brands ecosystem, aspiring to serve as an interoperable meta-experience layer for Web3 identity and social interactions.

Animoca Brands Fuels the Growth of Mocaverse

Recently, Animoca Brands announced that it successfully completed a second round of funding, raising $11.88 million for its announced Mocaverse project. This funding round attracted various investors including Block1, OKX Ventures, Foresight Ventures, Polygon Ventures, and Dapper Labs. NFT The capital raised will be directed toward creating a digital identity system and rewards framework tailored specifically for Web3 gaming, culture, and entertainment.

Mocaverse aims to serve as an interoperable layer for meta-experiences, allowing users to forge their digital identities, build their reputations, and earn or redeem Realm Points through active participation within the Mocaverse ecosystem.

The recent investment and partnership between OKX and Animoca Brands reflect a unified vision for the future of Web3 innovation, emphasizing a commitment to advancing the global blockchain landscape and creating a more interconnected Web3 experience.

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