{"id":71568,"date":"2024-02-16T07:19:17","date_gmt":"2024-02-16T11:19:17","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=71568"},"modified":"2024-02-16T07:19:21","modified_gmt":"2024-02-16T11:19:21","slug":"mocaverse-and-kucoin-to-streamline-cross-platform-identity","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/mocaverse-and-kucoin-to-streamline-cross-platform-identity\/","title":{"rendered":"Mocaverse and KuCoin to Streamline Cross-Platform Identity"},"content":{"rendered":"\n

The partnership merges Mocaverse\u2019s Moca ID, KuCoin\u2019s accounts, and Halo\u2019s Genesis pass to redefine on-chain identity.<\/a><\/p>\n\n\n\n

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Mocaverse and KuCoin to Streamline Cross-Platform Identity<\/figcaption><\/figure>\n\n\n\n

Mocaverse\u2014the membership network and metaverse initiative of Animoca Brands\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>\u2014has formed a partnership with Web3 wallet Halo Wallet and cryptocurrency exchange KuCoin to simplify user navigation across multiple industry sectors, including SocialFi, gaming, decentralized financing (DeFi), and crypto trading.<\/p>\n\n\n\n

The partnership will \u00a0\u201credefine on-chain identity and facilitate growth\u201d in the Web3 space, according to an announcement published on February 16 and shared with reporters. <\/p>\n\n\n\n

It will consist of Mocaverse's nontransferable nonfungible token (NFT) digital identity, Moca ID, KuCoin's user accounts, and Halo's Genesis membership pass. <\/p>\n\n\n\n

A KuCoin representative told crypto journalists that Web3 sub-ecosystems including cryptocurrency commerce, digital collectibles, DeFi, and the metaverse \u201coperate somewhat independently,\u201d They elaborated:<\/p>\n\n\n\n

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\u201cUsers find it challenging to access benefits across these sub-ecosystems. For instance, active users on an exchange might not enjoy equivalent benefits in NFTs, the metaverse, or DeFi ecosystems. This is a pain point for users in the Web3 world.\u201d<\/p>\n<\/blockquote>\n<\/div>\n<\/div>\n\n\n\n


The initiative will attempt to resolve this issue by establishing cross-platform identity connections for KuCoin, Mocaverse, and Halo Wallet users, according to the spokesperson.<\/p>\n\n\n\n

Yat Siu, co-founder of Animoca Brands, stated to reporters that the initiative \u201cunifies user experience, making it simpler for an end-user to access and benefit from services.\u201d\u00a0He elaborated that utilizing an identity layer across multiple wallets facilitates increased collaboration and integration of partner-provided services.<\/p>\n\n\n\n

\u201cWe are, in effect, sharing the network effects of all these services with each other, which will expand the ecosystem as it creates greater shared value across the space,\u201d he explained.<\/p>\n\n\n\n

Siu further stated that the integration is anticipated to magnify network effects, thereby augmenting the value for Mocaverse, its partners, and users by virtue of Moca ID's decentralized and community-owned structure. <\/p>\n\n\n\n

He elaborated that it is expected that the implementation of such a framework will stimulate development and innovation throughout community-owned networks, particularly in the education and finance (EduFi), SocialFi, and DeFi sectors.<\/p>\n\n\n\n

KuCoin<\/use><\/svg><\/span><\/a> anticipates that consumers of various Web3 ecosystems and asset classes will derive “greater” cross-platform value from the partnership, which it regards as an industry case study.<\/p>\n\n\n\n

Animoca Brands disclosed its intention to raise $20 million on September 11, 2023, to accelerate the Mocaverse's progress. Yat Siu, a co-founder of Animoca, emphasized at the time that the platform would function as “the digital reputation, identity, and loyalty system for other decentralized organizations.”<\/p>\n\n\n\n

In April 2023, KuCoin Wallet underwent a rebranding event known as Halo Wallet, which aimed to broaden the platform's scope beyond decentralization and into providing support for the socialFi ecosystem.<\/p>\n\n\n\n

Halo's strategy for transferring governance rights of its SocialFi ecosystem to the community via a decentralized autonomous organization (DAO) resembles Mocaverse's governance vision.<\/p>\n","protected":false},"excerpt":{"rendered":"

The partnership merges Mocaverse\u2019s Moca ID, KuCoin\u2019s accounts, and Halo\u2019s Genesis pass to redefine on-chain identity. Mocaverse\u2014the membership network and metaverse initiative of Animoca Brands \u2014has formed a partnership with Web3 wallet Halo Wallet and cryptocurrency exchange KuCoin to simplify user navigation across multiple industry sectors, including SocialFi, gaming, decentralized financing (DeFi), and crypto trading. […]<\/p>\n","protected":false},"author":53,"featured_media":71570,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[7202,5580,18443,18444],"class_list":["post-71568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-animoca-brands-2","tag-crypto-exchange-2","tag-kucoin-2","tag-mocaverse"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/02\/ft.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/71568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=71568"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/71568\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/71570"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=71568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=71568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=71568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}