OKX Ventures has invested in Animoca Brands’ Mocaverse, aiming to develop projects on the X1 network – a zkEVM Layer 2 offering by OKX.

ZkEVM, or zero-knowledge ethereum virtual machine, allows smart contracts to be executed using zero-knowledge proofs. Mocaverse’s 400 projects will have access to X1, benefiting from OKX’s 50 million-strong global user base.

This move is also aimed at supporting further growth of the Web3 developer community.