MOCA Token Soars to $800 Million Valuation as Mocaverse NFTs Crater

MOCA, a token that aims to reward holders of Mocaverse NFTs, debuted at a $72 million market capitalization and has since rallied 41% to tag $102 million, according to CoinGecko.

MOCA last changed hands for $0.088 and boasts a fully diluted valuation of $800 million.

Holders of Mocaverse NFTs are eligible for a MOCA airdrop allocation if they have a MOCA ID with at least 1,500 Realm Points (achieved through various activities within the ecosystem) or if they hold at least 1 MOCA or Lucky Neko NFT. Of the total MOCA supply, 10% has been assigned to reward holders.

To be eligible, users had to register on the website by July 9, which coincides with a drop in the Mocaverse NFTs’ floor price.

According to NFT Price Floor, the collection’s floor price crashed 47% to $5,770 from $10,853 on July 9. When measured in ETH, the asset dipped to 2.20 ETH from 3.55 ETH. Users originally paid $100 per token to mint Mocaverse.

The terms of the airdrop could be bolstering MOCA’s price performance, with eligible wallets able to qualify for a potential 40% bonus allocation if they wait until October 11 to claim their tokens. The deadline for claiming the first airdrop is August 11.

But despite Mocaverse being the worst-performing top 100 NFT collection over the past week and 30 days, it continues to rank 21st among NFT collections by market cap at $51 million.