Mocaverse Introduces Staking Feature Alongside the Token Generation Event (TGE)

NFT and blockchain game developer Animoca Brands revealed on its official Medium blog that its NFT project Mocaverse will introduce a staking feature alongside the token generation event (TGE).

NFT project Mocaverse will introduce a staking feature. Users can stake MOCA tokens to gain staking power or "soft stake" Moca NFTs to enhance their staking power rates.

Animoca Brands' NFT project Mocaverse will introduce a staking feature. Users can stake MOCA tokens to gain staking power or "soft stake" Moca NFTs to enhance their staking power rates, according to a recent post on the project's official Medium blog.

The $MOCA Staking 1.0 feature will launch simultaneously with the TGE. Participants will accumulate staking power at a rate of 0.000001 per second. This staking power grants exclusive access and benefits within the Moca Network, such as entry to MocaList token sales and staking pool rewards from over ten confirmed partners.

To encourage early participation, a 50% Early Staking Boost will be available from July 11 to 25. However, unstaking MOCA during this period will reset the bonus staking power to zero.

Moca NFT holders can “soft stake” their NFTs to enhance their staking power rate. If a staked Moca NFT is listed, sold, or transferred, it will be automatically unstaked, resulting in the loss of the boost. Additionally, Moca NFT holders who selected the “Claim Extra” option for the airdrop can still earn staking power during the three-month cliff period by soft staking their NFTs.

Benefits of Staking MOCA?

Moca NFT holders have the option to “soft stake” their NFTs to increase their staking power rate. However, if a staked Moca NFT is listed, sold, or transferred, it will automatically become unstaked, causing the holder to lose the staking boost.

Additionally, those who chose the “Claim Extra” option during the airdrop can continue to earn staking power throughout the three-month cliff period by soft staking their NFTs.

About Mocaverse

Mocaverse is Animoca Brands' exclusive NFT collection, consisting of 8,888 distinct digital characters known as The Mocas. These entities are categorized into five tribes: Angels, Builders, Dreamers, Connectors, and Neo-Capitalists. The initiative is designed to promote unity and collaboration, urging members to participate in educational activities, gaming, societal contributions, and construction within the Web3 ecosystem.

Holders enjoy exclusive benefits such as access to Animoca Brands’ events, masterclasses, seminars, early access to new projects, and in-game asset drops. They can also earn and stake Moca XP tokens for rewards and event participation.

Animoca Brands' Financial Growth

Animoca Brands recently reported a significant increase in bookings for the first quarter of 2024, totaling $90 million, a 72% increase from the previous year's $52 million. This growth was driven by digital asset advisory, Web3 subsidiaries, and investment management.

The company has also revealed its plans for a potential reentry into the public market, considering the easing regulatory landscape in jurisdictions like Hong Kong and the Middle East. Animoca Brands withdrew from the Australian Securities Exchange (ASX) in March 2020 due to ASX's concerns regarding the company's adherence to listing regulations, specifically those concerning investments in cryptocurrency and blockchain ventures.