Blockchain investment firm Animoca Brands has announced the massive face-lift that Mocaverse, its umbrella Non-fungible Token (NFT) collection, is undergoing. At the core of the new development is the enhancement of interoperability across Decentralized Applications (DApps) and chains.

Animoca Brands is Not Launching a Chain

According to the Web3.0 group, its community has made several requests for it to develop a chain for the Animoca ecosystem. Meanwhile, Animoca Brands claims to be chain and ecosystem-agnostic since it was established.  For several years, the firm has made a series of investments in different organizations to support the Web3.0 ecosystem.

In the next phase, Animoca Brands revealed that it plans to accrue what it has “been building this whole time into @MocaverseNFT.”

Many have asked for an Animoca chain for a while…

Animoca Brands has been chain- and ecosystem-agnostic since its inception.

We’ve invested in hundreds of companies in the past 6 years since 2018 to support the entire #Web3 ecosystem, and now, we are accruing what we have been… https://t.co/EjVCxmU3jN pic.twitter.com/mmCyWfr8vZ

— Animoca Brands (@animocabrands) May 10, 2024

Based on its X post, the blockchain firm is not building a chain yet. Rather it has gone beyond the request of its users and is leaning more towards the development of an interoperable infrastructure network.

Animoca Brands intends to make the new network compatible with any DApp, wallet, or chain. In the long run, the goal is to accrue the value of the Animoca Brands network into the Mocaverse. At the moment, the Moca network enjoys support from over 450 portfolio companies incorporated into the Animoca ecosystem.

Interoperability services remain accessible to more than 700 million addressable users through the Mocaverse. These users are exposed to different infrastructure products such as interoperable accounts. Additionally, they are exposed to digital identity, PointFi, on-chain reputation, launchpad, and more. Notably, all of these products remain powered by the MOCA network.

Animoca Brands Looks Forward to Improving Web3.0 

There are expectations that more partners and users will join the Moca network. When this happens, it might in turn lead to a surge in shared resource availability. Also, it may trigger new value generation with the community named as the primary beneficiary. Therefore, this becomes the “flywheel” and a win-win for everyone, per the published X post.

Apart from the interoperable infrastructure network, Animoca Brands is also busy with other developments to push the improvement of the Web3.0 ecosystem. Last month, it announced the establishment of an NFT launchpad in Japan. The official launch is scheduled for this summer and there is an open invitation for all interested parties.

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The post Animoca Brands Breaks Silence On Blockchain Development Plans appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am