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Meet the Universal Currency for Two Billion Gamers


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500 Video Games Are Now Accessible With the New Altcoin

The MobileGO company is aiming to make the esports industry more reliable and transparent with its new MGO token. It can reportedly enhance options for developers to monetize their gaming products, resolve financial and security issues for professional gamers, along with providing a more convenient payment system for ordinary players.

The global games market is estimated to be worth almost $180 billion in 2018, with more than 2.1 billion users worldwide. Around 380,000 of them are esport fans. The term esport refers to a skill-based competitive gaming at a professional level and in an organized format, with a specific goal. It creates a high demand for more sophisticated and secure, economic and financial serviсes in the gaming industry, as currently there are several bottlenecks.

The process of receiving funds may lack transparency, some tournaments require an entry fee. Other platforms charge high commission fees for withdrawing funds. Gamers may face different types of fraud or cheating, or even suffer from hacks. And most tournaments are basically centralized, meaning that companies have power over the community.

That’s where blockchain climbs the stage. MGO is compatible with smart contracts that can enhance the transparency and accuracy of transactions, according to a corporate blog. Utilizing smart contracts, prizes can be automatically distributed according to prescribed rules without any alteration. The money is only released after the correct fulfillment of a smart contract.

Developers can make financial components of their games more flexible, implementing the MGO token for loyalty rewards, in-game payments, and purchases, or even as a part of the gameplay.

To dive deep into the developers’ community, MobileGO has recently established a partnership with Xsolla. It is a platform that offers a complete set of tools for video game developers and publishers to launch, monetize, and scale their gaming products. And for the first time Xsolla accepts cryptocurrency for payments, adding the MGO token to a list of more than 700 existing methods.

“Game developers will now receive their royalty payouts much faster, and owners of MGO will soon be able to engage in peer-to-peer matches and organize decentralized gaming tournaments in a way never before possible,” said founder and CEO of Xsolla, Aleksandr Agapitov. Moreover, players can now access over 500 games deployed on the Xsolla platform with the MGO token as well.

The company recalls Vitalik Buterin’s blog post about his disappointment about sudden changes in the famous MMORPG gameplay, “I happily played World of Warcraft during 2007-2010, but one day Blizzard removed the damage component from my beloved warlock’s Siphon Life spell. I cried myself to sleep, and on that day I realized what horrors centralized services can bring. I soon decided to quit.” The MGO team set up to change this situation successfully by eliminating intermediaries and creating an efficient channel of transactions using the MGO token.

The MobileGO team is working on a variety of new products. It has announced an upcoming release of the GShare, a utility app generating GN Gold currency, which will be used for payments both on Xsolla and inside the MGO ecosystem. Also, the new swap platform has been launched for the safe conversion of wMGO, issued on the Waves platform, into Ethereum-based eMGO, as the initial supply of MGO tokens was created on two blockchains.

Still, the MGO token is a tradeable digital asset listed on major crypto exchanges such as Bitfinex, DigiFinex, BitForex, HitBtc, and GateCoin.

To facilitate the distribution of MGO token, the MobileGO project has launched an airdrop campaign on November 2, which gives users an opportunity to get MGO tokens for free. The reward of one MGO (approximately $0.55) is promised simply for following the project on social media and filling in the form. Thereafter, MobileGO transfers an MGO to the users’ Ethereum-compatible wallet. There is a double reward for the first 1,000 players, while the overall number of participants is limited to 11,000 people. The airdrop campaign will conclude on November 11.

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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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