Although February delivered a brief glimmer of hope to crypto traders after BTC surged above 4,000, the euphoria was short-lived. It appears as though the bear is here to stay for at least the foreseeable future. Despite the challenging times, there are projects that continue to deliver in the face of adversity. One very promising company that I have covered before is MobileGo (MGO).
Introduction to MGO Token
MGO is a smart token that could usher in a new era in the gaming industry. The token’s purpose is to gamify the eSport platform and incentivize gamers for loyalty and participating through rewards. The team at MobileGo continues to work on establishing strategic partnerships and alliances (such as with Xsolla), expanding its global reach, and making games available to everyone around the world.
The token has several inherent benefits. For gamers, it will help facilitate peer-to-peer match play and decentralized tournaments, serving both as a match reward and an entrance fee. Additionally, MGO token owners will have an opportunity to generate additional discounts good toward purchasing in-game content.
Game publishers and developers will also reap the benefits of the MGO token. Game publishers have the option to be paid in MGO, which has several major advantages of traditional FIAT, including the speed of processing payment requests.
Team Just Released a New Payment API for Developers
One of the things I like most about MobileGo is its relentless pursuit of greatness. The team continues to align with strong partners and develop enhancements to their platform. And that is certainly the case after the release of its first open source and complete API. This API can be utilized by game publishers in order to both accept and distribute payments in MGO tokens. It can even be integrated directly into games so that MGO can be used as a direct payment method. That is an absolutely huge development! All of the code can be found at MobileGo’s official GitHub account.
This new open-source payment API will provide developers and gamers with more options, improved usability, and cost efficiency when using MGO as a payment method. MobileGo is currently in discussions with several parties regarding the possibility of using the new payment API on their platforms.
Another interesting aspect is that MobileGo can provide developers with a custom API that can be used to increase the fee behind a transaction. Developers can use that extra fee to fund a specific cause, such as a charity. If this feature is utilized, a portion of the total transaction cost will be forwarded to the charity of choice.
Ethereum Network Fees Can Be Paid in MGO Tokens
A potential jackpot for MGO is that Ethereum network fees (GAS) can be paid in MGO tokens thanks to the new open-source payment API. In order to best illustrate how the math works, an example is probably best. If a gamer makes an in-game purchase totaling 100 MGO tokens, the fee comes out to be 1 MGO. In this case, the developer would receive 99 MGO after the 1 token fee is paid. If the gamer covers the fee, then the gamer would end up spending 101 MGO tokens and the developer would receive 100 tokens.
When comparing that cost to the traditional GAS cost of using Ethereum, it is a huge cost saving. For one transaction it may not seem like a lot but it certainly adds up over time. It’s another perfect example of why MGO is likely to gain significant adoption within the gaming community.
Just as a word of caution, it’s important to note that the examples of fees and payments presented here are dependent on the ETH network and do not reflect the current/previous/future situations. They are used solely to provide a clear explanation of the API mechanism.
Increased Transparency Through Official GitHub
Due to the rapid speed at which MobileGo is developing and growing, the team has released its official GitHub. This account will be used to increase the transparency of all the company’s projects. Up to this point, the following projects can be found on the company’s GitHub:
- Metamask Integration – For users with Metamask accounts and do not wish to add custom contracts, this application will show the MGO balance.
- Payment API with standard ETH fee.
- Payment APIs that change the fee from ETH to MGO for simplicity and usability.
As the team at MobileGo continues to develop new projects, users can expect additional developments to also be listed on the company’s GitHub. A few examples of things to look forward to include:
- eSports platform (built on top of the smart contract)
- Integration of the Payment API with the MGO Store (coming soon)
- Smart contract for decentralized matchmaking in tournaments
The above are just a few examples of what is expected in the near future.
MobileGo continues to be a shining example of what is possible in cryptocurrency. Although the team is excelling at every turn, users should feel free to contribute any ideas they might have to the GitHub. And in an effort to incentivize community activity, MobileGo expects to launch a bounty program that will reward contributors in the near future. There is a famous African proverb “it takes a village to raise a child.” Well, in this case, it takes a community to build something great and MobileGo is on the verge of doing just that.
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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Can Libra help the crypto industry to reach new heights?
The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.
From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.
What is Libra?
Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.
Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.
The development of…