According to DL News, web3 giant Animoca Brands launched MOCA Coin on Thursday and plans to conduct an IPO in late 2025 or early 2026. Yat Siu, co-founder of Animoca Brands, said in an interview that MOCA Coin has nothing to do with company stocks, does not involve profit sharing, and does not share power. MOCA is a practical token for the Animoca Web3 ecosystem, used for payment and governance.

In 2020, the Australian Stock Exchange delisted Animoca, citing concerns that issuing tokens as a listed company was "double profit". Although some regulators believe that most cryptocurrencies are unregistered securities, Siu emphasized that MOCA Coin is a utility token that can be used for functions such as payment and decentralized autonomous organization voting. Yat Siu further stated that he is exploring the possibility of an IPO in Hong Kong, Dubai, or both in late 2025 or early 2026.