Animoca Brands’ Moca Network to Launch Layer-1 Blockchain for Digital Identity

Moca Network, a flagship project under Web3 investment giant Animoca Brands, is set to debut a layer-1 blockchain designed to decentralize digital identity verification. The new chain, dubbed Moca Chain, will enable cross-platform user data authentication without reliance on centralized intermediaries—mirroring Web2 single sign-in services like Google Sign-In but with user-owned data.

The testnet is slated for Q3 2024, followed by a year-end mainnet launch. MOCA, the network’s native token, surged 6% to $0.077 post-announcement. It will fuel validator staking, storage, and data verification fees.

Animoca founder Yat Siu framed the initiative as a cornerstone of the firm’s mission to advance digital property rights via NFTs and memecoins. "Moca Chain creates an ecosystem where users truly own their data and contributions," he said. The project is fully staffed by Animoca employees, signaling its strategic priority.