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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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…