Understanding the IP Capital Market in One Article: How City Protocol and Mocaverse's "IP Micro-Strategy" Enable IP to Enter the Cash Flow Era?

1. The New Inflection Point of Web3: From Narrative to Asset Management

If the keyword for Web3 in 2021 was “innovation”, in 2022 it was “speculation”, and in 2023 it was “adjustment”, then 2025 clearly belongs to “assetization”. Whether it is the on-chain transformation of real-world assets (RWA) or the refinancing of blue-chip NFTs, the market, after going through a cycle of filtering, returns to the most basic logic - how to create sustainable revenue on-chain.

At this turning point, Animoca Brands' ecosystem Mocaverse has launched a highly structurally innovative joint project with City Protocol: $MOCASTR (Moca Strategy Token).

This is a mechanism token centered around high-value intellectual property (IP) assets from Mocaverse, driven by an on-chain strategy treasury (Tokenised Strategy) to generate a revenue cycle. It is not just a simple “coin”; it is more like a digital asset strategy engine that can operate actively and appreciate in value perpetually.

City Protocol has set an ambitious definition for this experiment: “to bring cultural IP into a programmable financial physical loop.” From an investment perspective, this is an attempt at a structural innovation in the NFT market.

II. Mechanism Analysis: An On-Chain Strategy Body of “Self-Compounding”

The IP Strategy module of City Protocol is an on-chain strategy system designed specifically for the IP ecosystem (Tokenised Strategy Module). The core logic of this module is very straightforward: it drives community funds into the treasury through token economics, and then supports the long-term value construction of IP through on-chain strategies. In other words, it is not a “passive asset pool,” but a tokenized execution layer for IP strategies.

MOCASTR is the first token of this module and the starting point of everything.

The design of MOCASTR can be summarized in three stages: fee injection, treasury strategy execution, and profit reinvestment.

A transaction will incur a fee of 2.5%, of which 80% will be automatically injected into the treasury. The treasury continuously monitors the market conditions of Mocaverse NFTs using on-chain data interfaces, including floor price, transaction depth, and volatility range. When the system detects an undervalued range, the IP Strategy will execute an NFT buyback; subsequently, these assets will be re-listed for sale at a premium of about 1.2 times the floor price.

After completing a cycle of “buy low and sell high”, the profits generated will be divided into two parts: one part will be used to repurchase and burn $MOCASTR tokens, creating a deflationary effect; the other part will remain in the treasury to further expand its operational space and drive the next round of circulation.

The entire system thus forms a self-driven closed loop: fee injection → NFT repurchase → premium sale → profit return → token destruction → treasury expansion. This logic is similar to automated market makers (AMM), except that the underlying has shifted from trading pairs to the value conversion between NFTs and tokens.

The core innovation lies in: users can share the overall profits of the Mocaverse ecosystem by holding $MOCASTR without directly participating in NFT transactions. NFTs evolve from static collections into income-generating assets, while tokens become the medium for sharing this value creation process.

This structure is very similar to MicroStrategy's “HODL Flywheel”, but what MOCASTR has built is not a company-level financial cycle, but a collective treasury model at the token layer. It transforms “IP market value management” from actions of a single brand into a shareable, participatory, and tokenizable on-chain logic.

3. Flywheel Expansion: The Resonance Mechanism of Tokens, Treasury, IP, and Market

The flywheel of MOCASTR is a four-layer cyclical system:

1. Token Layer: All transaction fees generated serve as continuous funding for the treasury, forming the basic fuel.

2. Treasury Layer: The IP strategy of City Protocol takes over funds and transparently executes IP-related strategic actions on the chain, such as maintaining the market depth of Mocaverse NFTs, supporting collaborative activities, or ecological proposals.

3. IP Layer: Mocaverse enhances its influence through brand, community, and cross-ecosystem collaboration, increasing the expected value of IP and amplifying the market effect of financial resources.

4. Market Layer: As the value of Mocaverse increases, the market recognition of $MOCASTR simultaneously rises, leading to increased new liquidity and trading frequency, which in turn feeds back into transaction fees, further strengthening the financial reserves.

The essence of this cycle is to use market fluctuations to drive IP appreciation in the opposite direction. The treasury is an energy storage device; the token is the drive shaft; IP is the core of growth; and the market serves as the feedback mechanism. The four are interlinked, forming a growth system that is both transparent and self-driven.

In the past NFT market, IP value often remained in the “collectible era” - holding, appreciating, and socializing;

In the MOCASTR model, IP has started to enter the “financial treasury era” - being managed, utilized, and compounded.

4. Mocaverse and City Protocol: A Combination of Narrative and Execution

$MOCASTR officially launched on the Solana mainnet on October 29. Due to the adoption of a buyback strategy and high-speed execution architecture, the project has shown unexpectedly strong market performance in a short period of time. Within 48 hours of the launch, the treasury completed the buyback of 40 Mocaverse NFTs, driving the floor price of the Mocaverse series up by about 15%.

At the same time, the first round of strategy cycles provided direct cash flow support for the token value with an annualized return of about 20%. The liquidity pools of Raydium and Jupiter obtained an initial depth of over $300,000 on the day of launch, with the project market cap reaching between $2 million to $3 million within a few hours.

Mocaverse is the flagship identity and cultural ecosystem of Animoca Brands, integrating over 540 projects and 700 million on-chain wallets since 2023. The 8,888 Moca NFTs build four major archetype communities: Dreamers, Builders, Angels, and Connectors, which not only have cultural symbolic significance but also possess governance, reputation, and points systems. These NFTs reflect Animoca's long-term layout in the social, gaming, and identity layers, providing a solid asset and community foundation for MOCASTR.

After securing investments from institutions like Jump Crypto, Dragonfly, and CMT Digital in 2024, City Protocol has been deeply engaged in the field of “on-chain IP financialization” and proposed the DAT framework (Digital Asset Treasury) to support sustainable asset growth. With its treasury system, the ecological energy of Mocaverse is translated into more direct capital flows and market momentum.

The launch of MOCASTR is the first official resonance between Mocaverse and City Protocol—culture and finance, narrative and execution, IP and capital, truly combined in a smart contract.

The two have combined to form a clear division of labor: Mocaverse is responsible for the asset entity and cultural moat, while City Protocol builds the algorithm engine and capital management foundation. In this model, MOCASTR becomes the bridge between the two and also serves as a template for the future financialization of on-chain IP.

This combination has shown the market a new ecological structure:

IP policies are no longer abstract, but have become a tradable and governable token entity.

Interestingly, Yat Siu, the founder of the Animoca brand, personally purchased the Mocaverse NFT that was repurchased and resold by the City Protocol treasury after the project was launched. The market generally believes that this is not merely a symbolic action, but a validation signal of the mechanism itself: a consensus between IP parties and DeFi protocols is forming a new type of “liquidity contract.”

V. Why is this a model needed by the market?

The NFT market has entered a prolonged “post-heat period.” The price fluctuations of blue-chip IPs have slowed down, new capital is lacking, and attempts to integrate DeFi have frequently failed. The biggest issue in the entire ecosystem is not the lack of narratives, but rather the lack of structural momentum.

After its launch at the end of October, MOCASTR quickly became the focus of attention on-chain. Within 48 hours, the treasury executed operations multiple times, significantly enhancing the floor price and trading depth of Mocaverse's NFTs. Meanwhile, the community engagement of Animoca founder Yat Siu provided a strong external trust signal for the flywheel.

What is even more striking is that it has not only brought numerical growth but also a concentrated return of market sentiment.

A large number of crypto KOLs, NFT investors, and on-chain researchers have started discussing the mechanism of MOCASTR on social media—how it allows NFTs to have a “compound financial logic” and how it resonates with the growth model of DeFi for the first time with cultural assets.

This phenomenon acts as a trigger, allowing the long-silent NFT investment circle to rise again: shifting focus from surface-level art and trading to how to enhance the revenue structure and internal financial circulation of IP.

The IP Strategy module provided by City Protocol offers exactly this kind of momentum—not just simple financial operations, but a sustainable growth structure.

It allows IP projects to avoid relying on one-time issuance income and instead obtain ongoing support through strategic treasury.

It allows token holders to not only be speculators but also to become participants and beneficiaries of IP growth.

The long-term potential of this structure lies in:

● IP value possesses brand and cultural limitations;

● The treasury provides cash flow and market support;

● Tokens connect users with mechanisms, making the community a source of growth.

● The entire system forms a continuous symbiosis of “culture × capital.”

The success of MOCASTR means that the NFT market has for the first time possessed a “strategy-based growth engine”, rather than just being a “sentiment-based investment field”.

6. Future Outlook: The “Programmability” of IP Assets

City Protocol has hinted that this collaboration is just the starting point of a “series strategy.” The City Protocol official is currently still focused on the improvement phase of the IP Strategy. The future direction will revolve around how to optimize the execution parameters of the strategy treasury, enhance cross-IP collaboration capabilities, and introduce more on-chain governance participants.

But what can be certain is that MOCASTR has already proven:

1. IP can have treasury management logic similar to corporate assets;

2. Cultural assets can enter the on-chain capital circulation through tokenization;

3. The market can generate new profits and consensus during the process of participating in this cycle.

No matter which type of assets the IP Strategy module expands to next, its “tokenization strategy treasury” model has become one of the most likely new narratives in the NFT market after GameFi and RWA.

8. Conclusion: The True Value of IP Returns to Cash Flow

The emergence of MOCASTR may signify an important turning point in the NFT economic model.

Over the past two years, the “value controversy” of the NFT market has always centered around whether it possesses intrinsic yield; now, MOCASTR has provided a verifiable answer.

The NFT micro-strategy model represented by MOCASTR gives cultural assets a financial operating logic for the first time.

The IP Strategy module of City Protocol systematizes and replicates this logic - this is a key step for the NFT market to emerge from its low tide and reshape its growth.

IP as a cultural asset is being written into on-chain economics. Tokens are not just circulation tools but also governance units and value levers. When the treasury can generate revenue, IP can grow, and tokens can feed back, this flywheel will continue to turn.

The significance of MOCASTR does not lie in its current price, but in the fact that it has allowed NFTs to have their own “treasury strategy” for the first time. This may very well be the starting point for the autonomy and financial sustainability of cultural assets in Web3.

For Mocaverse, this means that the long-term value of its ecosystem is quantified and amplified; for the DeFi world, this provides a brand new strategic template - IP-driven, self-circulating revenue, and transparent execution of the treasury.

When holders are no longer just collectors, but shareholders of the treasury;

When animated characters and story worlds can bring stable cash flow;

Perhaps the door to the “cultural capital market” is truly opening in a cryptographic way.

Project Information

● City Protocol official website:

● City Protocol Twitter: @cityprotocolHQ

● Moca Strategy Twitter: @Moca_Network