The race to make decentralized identity more practical across Web3 is gaining another major backer. Moca Network, Animoca Brands’ identity-focused project, is joining forces with OKX Ventures
The race to make decentralized identity more practical across Web3 is gaining another major backer. Moca Network, Animoca Brands’ identity-focused project, is joining forces with OKX Ventures to identify and support developers building applications around its digital identity infrastructure. The initiative combines investment opportunities with access to OKX’s global platform and services.
Capital is a central part of the arrangement. OKX Ventures has committed to allocate a portion of its MOCA Coin (MOCA) reserves for co-investment opportunities identified through the collaboration.
The funding will target high-potential projects developing identity-driven consumer applications, solutions and use cases leveraging Moca Network’s infrastructure, including AIR Kit and Moca Chain. Animoca Brands and OKX Ventures may also consider additional follow-on investment as projects mature.
The exact size of the MOCA allocation has not been disclosed in the announcement. However, the commitment signals OKX Ventures’ continued involvement in the ecosystem following its previous investment in Moca Network, announced in November 2024.
Investment is only one part of the initiative. Selected projects will also be able to access resources across OKX’s global platform, including payment and on-ramp services, OKX Wallet integration and other ecosystem resources.
The objective is to reduce onboarding friction for developers and users while giving emerging applications access to infrastructure that can support their growth. The organizations intend to coordinate their support for projects as they develop within the Moca Network ecosystem.
Jeff Ren,Co- founder of OKX Ventures, said the collaboration would provide developers with the capital, technology and expertise needed to expand their reach.
“Animoca Brands and Moca Network play an important role in shaping the future of digital property rights and interconnected digital ecosystems. We are pleased to strengthen our partnership with them in order to support the builders who are creating real, measurable value for users. Through this strategic partnership, we intend to equip teams with the capital, infrastructure, and expertise required to scale globally and grow alongside Moca Network.”
Moca Network is building a chain-agnostic decentralized identity network designed to support privacy-preserving identity verification and interoperability of users and data across different industries and digital ecosystems.
The project brings together more than 600 portfolio companies, over 700 million addressable users and a range of enterprise partners. These figures describe the network’s broader addressable ecosystem rather than confirmed active users of its identity products.
Animoca Brands founder and executive chairman Yat Siu said the collaboration reflects a shared belief that identity infrastructure will be important to the internet's next phase.
“OKX is a trusted and long-standing supporter of Animoca Brands and Moca Network. This strategic partnership deepens our collaboration and shared conviction that identity-focused infrastructure will play a central role in the next phase of the Internet. By combining our resources and expertise, we aim to catalyze projects that can drive tangible adoption and innovation.”
The initiative's success will ultimately depend on the applications developers bring to market, the practical uses they establish for decentralized identity and whether users adopt those services. For now, the expanded collaboration gives Moca Network projects access to a combination of investment opportunities and infrastructure as the ecosystem seeks to grow.
