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Is Verge (XVG) Getting More New Partnerships On Board?
After Verge started their first crowdfunding campaign, everyone was waiting impatiently for the revealing of the mystery partnership announced back at the end of March. However, after the announcement that Verge partnered up with Pornhub, XVG immediately started to drop. On April 17th when the partnership with Pornhub was announced, XVG lost over 30% of its market price as it seems that many of “small” investors were not happy with this outcome. However, Verge is still working on acquiring new partnerships, which could be more benevolently accepted than the story between Verge and Pornhub. So, let’s see which partners are waiting to seal the deal with XVG.
Verge and MoreFun
XVGWhale, a Twitter supporter for Verge tweeted a couple of days ago that MoreFun decided to drop the idea about ICO, which means that MoreFun will instead use integrated XVG wallet for onsite payments.
The thing about the mentioned tweet is that the news about a new partnership with MoreFun didn’t come from an official source, but from one of the supporters of Verge and XVG currency, so we can’t consider it to be more than an indication at this moment. The Verge team seems to be quiet, not only about this matter but rather embracing complete silence since Tuesday, April 17th, when the partnership with Pornhub was announced.
This is not a strange case at all as the XVG team probably needs to take some time in order to decide what the next step for XVG would be. Moreover on this case, since the lead developer was unavailable for giving statements at the given moment, one of the representatives from MoreFun stated that they have a new partnership inline. However, they didn’t say whether the mentioned partnership would be sealed with Verge.
On the other hand, XVGWhale has been an XVG supporter for quite some time, so we can probably take their word when they decided to tweet about Verge getting into a partnership with MoreFun, also stating that MoreFun will be using an integrated XVG wallet that will be used for in-game payments.
The time will show whether the indication from the side of XVGWhale stands as a real deal. However, until Verge or MoreFun representatives decide to officially announce this news, we can only guess.
Verge and MindGeek
The most recent announcement that Verge is getting into a partnership with Pornhub, which resulted in an immediate drop of around 30% down in the market, was probably slightly misinterpreted by the press and the public likewise.
Although Verge is getting accepted as a payment method on Pornhub, one of the most popular and biggest adult entertainment websites, XVG didn’t partner up directly with Pornhub.
Verge team partnered up with MindGeek, which is actually an IT and marketing company that owns all major adult entertainment sites and it is said to have over 500.000 dollars in revenue on daily basis, which is needless to say an extraordinary achievement.
What MindGeek is planning to do for XVG is to make it more exposed to the eyes of the public which means that the reason we have Verge as a payment method on Pornhub is because MindGeek decided that it would be a great strategic move for XVG’s exposure to remind millions of people that are visiting Pornhub every day that they can use Verge for safe and secure payments.
Verge and Token Pay
It was originally thought that the mystery partnership that was to be announced as planned on April 17th was actually going to happen with TokenPay. Verge community has been for some time now implicating that TokenPay is going to pair up with XVG in order to bring crypto debit cards that would integrate XVG into the electronic wallet. The active community on Reddit claims that this partnership is going to happen very soon.
They might not be far from the truth as the two representatives from both team, team Token Pay and team Verge are having close collaborations followed with great publicity. Together, they are working on different meetups, workshops, and blockchain oriented meetings, so implicating that TokenPay might soon officially partner up with Verge couldn’t be that far from reality.
How is Verge doing at the Current Moment?
Unfortunately, Verge has gone down with the latest change in the market, embracing a minor wave of drops while it is being traded in the red as of the recent events.
Up till this point, Verge was doing pretty well while recovering from the market crash that went on for days, however, it seems that their appearance on Pornhub as a part of their partnership with MindGeek didn’t suit all their holders and investors likewise. That is how this currency went down in the market for 30% just in the middle of its rebound.
The reason for that case is said to be the above-mentioned partnership as the drop occurred immediately after the news was released on Tuesday, on April 17th.
At the current moment, Verge is trading in the red after the most recent drop of -2.68% against the dollar, while also dropping against BTC for 2.49%.
After the most recent drop, one XVG unit can be bought at the price of 0.068$ per one unit, which is still far from its record price of 0.23$ as recorded back in December of 2017.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Matt Robinson via Flickr