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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.