Animoca Brands, a leader in the GameFi and metaverse sectors, has launched its own token, MOCA Coin, which surged by over 90% post-launch. The company is also planning an initial public offering （IPO） in early 2025. This article delves into the implications of these developments and what they mean for investors.
Points
- Animoca Brands launched MOCA Coin, which saw a 90% surge post-launch.
- The company plans an IPO in early 2025, targeting Hong Kong or the Middle East.
- The token aims to expand Animoca Brands’ ecosystem.
- Animoca Brands’ previous delisting from the ASX due to regulatory concerns.
- The impact of MOCA Coin on Animoca Brands’ growth and ecosystem.
On July 11, Animoca Brands, a prominent name in the GameFi and metaverse sectors, launched its own token, MOCA Coin. The launch of MOCA Coin is significant as it marks a rare move by a public company in the crypto realm. Following its release, MOCA Coin surged by over 90%, and its market value is now over $141 million according to CoinGecko.
MOCA Coin is designed to serve as a utility token within Animoca Brands’ expanding ecosystem of Web3 games and applications. Yat Siu, the co-founder and chairman of Animoca Brands, explained in a Medium post:
“This aims to grow Mocaverse’s reputation layer and increasingly reward and incentivize the creation of cultural capital.”
Animoca Brands’ Market Impact and IPO Plans
Given Animoca Brands’ strong presence in the crypto gaming and metaverse sectors, the surge in MOCA Coin’s value is unsurprising. However, the company’s plans to go public early next year have sparked discussions. In 2020, Animoca Brands was delisted from the Australian Securities Exchange （ASX） for issuing tokens like The Sandbox （SAND）, citing concerns over governance and the use of simple agreements for future equity （SAFEs）. Despite submitting a 39-page report to address these issues, ASX proceeded with the delisting.
Yat Siu clarified that the token launch does not compromise the upcoming IPO because MOCA Coin does not represent equity or profit-sharing. Unlike Coinbase, Animoca Brands does not operate in the U.S., which keeps it outside the jurisdiction of the U.S. SEC and its Chairman Gary Gensler, who has highlighted compliance issues within the crypto industry.
Details Highlighting the Process
According to Siu, the launch of MOCA Coin does not affect the planned IPO, as the token does not provide profit claims or dividends. This means MOCA Coin holders do not receive earnings per share. Additionally, Animoca Brands’ lack of operations in the U.S. exempts it from SEC oversight.
解説
- The launch of MOCA Coin and Animoca Brands’ IPO plans signify a major development in the GameFi and metaverse sectors.
- MOCA Coin’s surge in value reflects strong market interest and confidence in Animoca Brands’ ecosystem.
- The company’s delisting from the ASX underscores the regulatory challenges faced by crypto-related public companies.
- Clarification from Yat Siu about MOCA Coin’s non-equity nature is crucial for investor understanding.
- Animoca Brands’ strategic focus on international markets, such as Hong Kong and the Middle East, highlights its growth ambitions and regulatory considerations.