Although I love trading cryptocurrencies as much as anyone, I’m far more interested in analyzing the impact that blockchain technology can have on the business landscape. After all, blockchain’s potential was the main catalyst behind the surge in trading volume last year. While many industries will be forever changed through blockchain applications, the gaming industry will be the focus of this article.
The first thing my parents would think of upon hearing the word “gaming” is Nintendo. And while video games do make up a considerable percentage of gaming sales, the industry has grown far beyond that. Several years ago, ESPN aired an episode of E:60 that went inside the world of professional video game competitions. One team, Dota2, was on a quest for a piece of an $18.4 million tournament prize pool. Yes, $18.4 million for people who play games. Since then, the industry has grown beyond anyone’s wildest imagination. And one company, MobileGo, appears to be taking full advantage of that opportunity.
MobileGo’s MGO token is an Ethereum based ERC223 token that was developed to usher in a new era in the world of internet gaming. The company’s main goal is to turn MGO into the world’s leading currency for the more than 2.6 billion gamers that currently exist. It is expected that mass adoption will occur as game developers continue to grow their businesses.
One step in the right direction is the recent announcement that Xsolla began accepting MGO for its PC and mobile games partners. Although developers are creative souls at heart, one of the main motivations to develop groundbreaking games are the royalty payments that come with it. With this move, developers will be able to participate in the future crypto boom by accepting royalty payments in cryptocurrency, MGO.
In an effort to make the end goal of mass adoption more likely, MobileGo has also pursued major exchange listings. Those listings include GateCoin, BitForex, HitBtc, Bitfinex, and DigiFinex. Together with the Xsolla agreement, MobileGo may become a household name in the gaming industry soon enough. It’s evident that all of this news is currently being reflected in the token price.
During a time when the majority of cryptos are in freefall, MGO is bucking the trend. The token is showing significant strength in the face of a general market decline. This is a sign that knowledgeable traders are backing the token in anticipation of future developments. One development that has already taken place is the introduction of GShare.
The company recently developed GShare which is an innovative way for gamers to earn GShare Gold. GShare Gold can be earned by simply running an app. This app will run in the background while users continue to use their computer as they normally would. In addition to running the GShare app, gamers can also earn Gold coins by entering various tournaments that are offered. As the earned coins add up, gamers will be able to use them towards tournament entry fees.
So how do GShare Gold coins connect to MobileGo’s traded currency, MGO? MGO tokens can be earned by winning tournaments which are entered with GShare Gold coins. The good news is that GShare offers an incredible variety of tournaments so, users can identify the games they feel give them the best chance for success. As a gamer’s success grows, so too will their MGO token balance. This balance of MGO tokens can then be used for in-game purchases or traded on one of the many exchanges where MGO is currently listed.
MobileGo is still in the early stages so success shouldn’t be expected overnight. But as the gaming industry continues to grow, and MobileGo continues to make significant technological advancements, the MGO token is likely one that belongs in everyone’s crypto portfolio.
For real-time trade alerts and a breakdown of the crypto markets, sign up for Elite membership!
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 Pexels
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…