According to @KookCapitalLLC, Animoca Brands' flagship project, Moca Network, is launching a Layer-1 blockchain called Moca Chain to manage digital identity across Web3. The source states this new chain will allow applications on any blockchain to verify user data, similar to Web2's single sign-on systems. The project's roadmap indicates a testnet launch in the third quarter and a mainnet release by the end of the year. The native token, MOCA, will be integral to the ecosystem, used for validator staking and various network fees. Following the announcement, the MOCA token experienced a price increase of over 6%, reaching approximately $0.077. Animoca Brands founder Yat Siu noted that Moca Chain aims to empower users by giving them ownership of their data and reputation, aligning with the company's mission to advance digital property rights.