Web3 project Mocaverse (MOCA), developed by the game software company and venture capital firm Animoca Brands, disclosed the details of the MOCA token airdrop.
The project intends to distribute 10% of the total MOCA tokens, representing 31.7% of the entire network incentive allocation, to holders of Moca non-fungible tokens (NFTs). One-third of these tokens will be available immediately at the token generation event (TGE), with further details to be released later. Another one-third will be vested weekly over 12 months, following a three-month waiting period, while the remaining one-third will be reserved exclusively for future incentives for Moca NFT holders. To qualify for the airdrop, users must possess the NFT at the time of the claim.
The Moca ID airdrop will be implemented in two distinct phases. The TGE unlock for “Network Incentive” has been raised from 15% to 20%. The initial phase at TGE will not involve vesting, while details regarding the second phase, which will begin after TGE, will be provided soon. To qualify for the airdrop, users must meet a minimum RP threshold, which will be announced closer to the TGE along with the related mechanism. The more RP users have, the more MOCA tokens they will be eligible to receive. RP serves as a form of proof-of-engagement, and the airdrop distribution will be non-linear, based on an evaluation of participation.
The maximum total amount of the airdrop will be limited by the initial two tranches of the network incentive allocation unlocking. This includes the first batch unlocked at TGE and the second batch of TGE unlocked one month after.
Mocaverse is also considering including external communities in the airdrop distribution. This may encompass strategic partnerships and marketing incentives, among other initiatives. Additionally, the remaining Network Incentives, along with other network tokens, will be distributed to all participants according to the Moca Network’s value-based mechanism. This will include MOCA token holders, Moca ID holders, and Moca NFT holders.
Sneak peek into $MOCA airdrop distribution Co-announced by @MocaverseNFT x @MOCAFoundation TL;DR:– Moca NFT has 10% of total $MOCA supply allocation (i.e. 31.7% within entire Network Incentives allocation), and 1/3 will be unlocked at TGE (more details to be disclosed)… pic.twitter.com/iH290gDnRz
— Mocaverse (@MocaverseNFT) May 22, 2024
MOCA Token Community Sale On CoinList Witnesses Oversubscription
MOCA functions as a fungible token (FT) using the LayerZero v2 protocol. It powers the Moca Network, which includes partner “subnets” and their users across diverse sectors such as music, sports, gaming, education, and governance. Within the network, the token serves both utility and governance roles. It acts as a payment currency and facilitates transaction fees. Holding the token also serves as a demonstration of loyalty within the Moca Network.
Recently, Mocaverse conducted the MOCA token community sale on the cryptocurrency trading platform CoinList. This sale raised $29.3 million in pre-deposit funds, with demand exceeding supply by over 12 times. A total of 126,984,127 MOCA tokens were sold at a price of $0.03938 each, with a minimum purchase requirement of $100.
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