Mocaverse, KuCoin, Halo Wallet Partner to Boost User Experience Across Web3 Ecosystems
Summary:
Mocaverse, KuCoin and Halo Wallet are collaborating to unify user experiences across the crypto trading, decentralized finance (DeFi), gaming and social finance sectors. By integrating their respective identity systems (Mocaverse’s Moca ID, KuCoin’s user accounts, and Halo’s Genesis membership pass), they plan to simplify navigation and access to benefits across these different Web3 ecosystems. This partnership is expected to promote innovation and growth across community-owned sectors including SocialFi, DeFi, Game Finance, and education and finance industries.
In an effort to simplify user experience across various industry segments such as cryptocurrency trading, decentralized finance (DeFi), online gaming and Social Financial Technologies (SocialFi), Mocaverse—a membership network deep-rooted in the metaverse from Animoca Brands—has teamed up with digital currency exchange KuCoin and Web3 wallet Halo Wallet. As per the announcement on February 16, this collaboration aims to integrate Mocaverse's untransferable nonfungible tokens (NFTs)—Moca ID—with user accounts from KuCoin and Halo Wallet's Genesis membership, to overhaul on-chain identity and foster exponential growth within the Web3 environment.
Although interconnected, some areas of the Web3 ecosystem, like crypto trading, digital collectibles, DeFi, and the metaverse have been existing in significantly discrete ways, shared a representative from KuCoin. They stated that as this pattern causes difficulties for users to avail from the merits of each segment fully, this cooperative initiative between the three would address such issues through establishing intricate identity connections across the platforms of KuCoin, Mocaverse, and Halo Wallet.
Labeling this undertaking as a tool that harmonizes users' interaction with the space, it eases the route to utilize and benefit from services, said Yat Siu, co-founder of Animoca Brands. By integrating identity layers into various wallets, it allows for enhanced collaboration and amalgamation of provisions facilitated by the partnering entities. The synergy created from the network effects of all these services expands the ecosystem thereby creating more value overall, added Siu.
Siu also mentioned that the integration is poised to amplify network outcomes, enhancing value proposition for Mocaverse, its associates, and its users courtesy of Moca ID's community-owned decentralized structure. He illustrated that this module is expected to drive innovation and expansion across community-owned networks, prominently in the SocialFi, DeFi sectors, and branching into Game Finance (GameFi), and educational and financial (EduFi) domains.
Coinciding with Siu's views, KuCoin is also anticipating that this collaboration will serve as a case study for showcasing ways to create amplified cross-platform value for users across different Web3 ecosystems and asset classes.
Back on September 11, 2023, Animoca Brands publicized that it was gathering $20 million to boost the progression of Mocaverse. Then, Animoca co-founder Yat Siu underlined that the platform's intention was to act as the digital identification, prestige and loyalty system for other decentralized setups.
In conjunction with this, KuCoin Wallet rebranded to Halo Wallet in April 2023 with an aim to broaden its functionality from merely a decentralized wallet, to a supporter of a larger SocialFi ecosystem. Very much in line with the governance vision of Mocaverse, Halo plans to progressively delegate governance rights of its SocialFi ecosystem to the community through a decentralized autonomous organization (DAO).
Published At
2/16/2024 11:00:00 AM
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