Animoca Brands Launches MOCA Coin Amidst Regulatory Scrutiny

Animoca Brands, a web3 conglomerate known for its investments in the metaverse and gaming, has launched its own cryptocurrency, MOCA Coin. The move comes as the company explores a potential initial public offering (IPO) in late 2025 or early 2026.

While some regulators view tokens as akin to equity, Animoca insists that MOCA Coin is a utility token, not an equity offering. Yat Siu, co-founder and executive chairman of Animoca Brands, clarified that MOCA Coin doesn’t provide holders with any profit sharing or claim to profits. He emphasizes that MOCA Coin’s purpose is to serve as a means of payment and governance within Animoca’s ecosystem of web3 games and applications, including the popular metaverse platform The Sandbox.

Animoca’s history with token launches has drawn regulatory attention. In 2020, the Australian Securities Exchange delisted Animoca, citing concerns that issuing tokens as a publicly traded company could be seen as “double dipping.” Siu maintains that MOCA Coin is different, arguing that it’s a utility token that provides real value within Animoca’s ecosystem.

Navigating Regulatory Waters

Animoca’s move to launch a token while exploring an IPO highlights the complexities and challenges of navigating the evolving regulatory landscape in the crypto space. While Siu acknowledges the concerns of regulators, he believes that MOCA Coin is a unique case that stands apart from the traditional securities offerings.

The launch of MOCA Coin has sparked debate among crypto enthusiasts and investors. It’s a reminder that the relationship between cryptocurrencies, traditional finance, and regulatory frameworks remains a dynamic and evolving field.