My new year’s resolution is to put the past year behind me and start fresh. This means to stop worrying about past losses and focus on all the exciting projects that blockchain technology has made possible. When analyzing new projects, I tend to look for projects that have 2 advantages; growing industry and lack of competition. Companies with these advantages have always done well in the equity markets and there is no reason to believe they won’t do well in the crypto markets. MobileGo (MGO) is one such project that will be one of the biggest winners during the next 12 months.
MobileGo’s currency, MGO, performed better than nearly every other token during the past 12 months. While most altcoins were plunging by more than 90%, MGO is only down about 50%. And, since September, the MGO token has exploded by more than 200%. These trading gains can be attributed to increasing adoption rates of the MGO token, most notably on the Xsolla platform.
Xsolla is a global powerhouse within the gaming industry. It’s a gaming platform that provides developers with critically important services such as marketing, billing, distribution, payment processing, and fraud prevention. Xsolla’s pay station allows for every developer in the world to monetize by providing 700+ payment types. The company also has a global presence that is unmatched by reaching 200+ geographies, utilizing more than 130 currencies, and communicating in more than 20 languages.
For developers, a key point is being able to monetize. And Xsolla maximizes that potential by managing subscriptions (renewals and recurring charges), pre-orders (games available to buy before launch), virtual goods (currencies and in-game items) and physical goods (game merchandise). Because of Xsolla’s full suite of tools, more and more developers are flocking to the platform to maximize their earning potential. This user base growth has resulted in Xsolla have a monthly turnover approaching $100 million.
So how can MGO benefit from Xsolla’s growth? In the past, developers only had the option of withdrawing profits through hard currencies, such as USD/EUR/GBP/JPY. However, these traditional methods suffer from long processing delays and pesky fees that add up over time. The result is that it is much harder for developers to manage their businesses. And that is where MGO comes in.
Rather than withdraw FIAT, developers now have the option to withdraw via MGO tokens. Over the last 2 weeks, game developers on the Xsolla platform have been utilizing MGO as their desired withdrawal method. It is expected that MGO will soon be used for approximately 30% of Xsolla’s monthly transactions. The accelerated growth is stunning and is certainly a major reason why MGO has soared in value over the past 6 months.
Over the course of the last year, MGO tokens have been gaining traction and increased popularity from game developers and crypto enthusiasts. The trading volume has exploded along with the token capitalization ($30 million as of this writing). The currency is being relied on more and more daily by developers all over the world.
This clearly sets a precedent and presents a very bright future for both the MGO and Xsolla ecosystems. As the token continues to see increased demand from developers, it’s expected that the token price will surge even higher. MGO’s current value is built on money flow, real-world usage, and incredibly important applications within the thriving gaming industry. The future is certainly bright for MGO and the only question is who’s going to go along for the ride.
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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.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…