2021 belonged to Defi and NFTs, and 2022 will, in all probability, see the two blockchain paradigms fuelling a new model of gaming - P2E (play-to-earn) games. Online gaming is a booming industry today, and with the advent of P2E games, players can earn while having fun. Axie Infinity is one of the most popular P2E games right on the crypto scene. However, most of the current crop of GameFi based games require considerable investment or entry fee before a user can actually start earning rewards from playing. Contrary to this, MOBOX is one such free-to-play game that lets players learn and earn using the same P2E model. Let’s explore the game ecosystem and its token today.
A community-driven GameFi platform, MOBOX, empowers players to engage and enjoy. It is built over the Binance Smart Chain and was launched in April 2021. It combines the best of Defi yield farming and gaming NFT tech with innovative tokenomics to create a truly unique free-to-play, play-to-earn ecosystem of finance and games. The game supports several languages.
The MOBOX ecosystem has something for everybody. From an NFT marketplace where users can sell, buy or trade their MoMo NFTs, to educational games like Bulls vs. Bear and fun games like Block Brawler, users can choose what they love and want to play. These NFTs can be acquired by staking some MOBOX (MBOX) or Binance Coin (BNB) tokens to obtain chests that contain random NFTs.
MOBOX has a team of 30 developers with extensive experience in developing and operating world renowned social gaming platforms.
MBOX token is the governance token and native cryptocurrency of the MOBOX platform that serves various functionalities. The token can be used for: 1) processing transactions via the NFT gaming platform, 2) staking for platform bonuses, incentives, and opening chests to grab MoMO NFTs and, 3) taking part in the governance to determine how resources are allocated.
It has a maximum circulating supply of 1 billion tokens, while its current circulating supply is close to 80 million. The platform uses an auto buyback and burn feature using a unique smart contract. 80% of the platform fees go into the token burning mechanism.
MBOX token is trading at $3.25 today. MBOX has experienced a major correction, going from over $15 in December to a low of $2.2 in January. However, since its bottom, it has successfully broken out of a resistance trendline and risen more than 50%, and currently sits at the .236 retracement of the local fibonacci pull from the end of December.
Source: TradingView, Binance
If this level holds, it can target $3.95 and $4.74 levels. With Bitcoin indicating it may have bottomed at $33,000, MBOX may enjoy the general bullishness of altcoins in upcoming weeks.
The MBOX token came into the limelight in August last year when it got featured in the list of new crypto projects on Binance’s Launchpool. In less than a fortnight, its prices skyrocketed by 400% as per CoinMarketCap. The game is in its initial stages and has some ambitious goals of being ‘committed to becoming the next epoch-making decentralized/community-driven/developer-friendly GameFi platform’.
MBOX has been gaining considerable traction lately. How the game develops its ecosystem further and stays unique despite the flurry of innovative P2E games in the crypto space will determine its future potential.
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Disclaimer: This article was authored by Giottus Cryptocurrency Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.