Several online entertainment industries adopt gamification techniques to win and retain users’ information, money, and attention. They do this in many ways using various applications and features that will keep users interested.
They also adopt a decentralized ecosystem but are challenged with providing a low barrier to entry for users. For example, MOBOX operates a decentralized platform that empowers users by compensating them for their enjoyment and engagement.
It combines an easy onboard process, NFTs, and Defi to provide a unique and long-lasting gaming system. In addition, the MOBOX gaming platform operates on a ‘free to play and play to earn mechanism.
This MOBOX review will look at the MOBOX project, how it works, the MOBOX token, and many more. In addition, the review aims to guide interested beginners and individuals who wish to gain more knowledge on either the project.
What Is MOBOX (MBOX)?
MOBOX is an NFT gaming platform that runs on Binance Smart Chain. It combines NFTs gaming and Defi yield farming to create a ‘free-to-play, play-to-earn gaming design model.
They designed the MOBOX platform to source attractive yield strategies and created unique NFTs used across various MOBOX games. In addition, the gaming platform aims at connecting each metaverse via introducing NFT interoperability in different platforms and blockchain games.
More so, MOBOX seeks to improve the NFTs utility of blockchain games titles and bring in additional utility via various efforts. The ecosystem of the platform promotes the play-to-earn mechanism without eliminating the free-to-play model.
Users can participate in various platforms, ranging from blockchain gaming and yield farming to NFT farming. In addition, they earn staking rewards for staking in liquidity pools or using MOMO NFTs paid in MOBOX native currency.
The MOBOX team launched an NFT game ‘Token Master,’ followed closely by an RPG game ‘MOMO blockchain brawler. In addition, they are working with other established projects in the ecosystem to crate NFT interoperability across games and platforms.
These cross-chain bridges will allow users to swap between the (BSC) Binance Smart Chain, TRON, and ETH. In addition, the gaming platform integrates NFTs from other Defi projects like PancakeSwap NFTs used in MOBOX’s games.
Furthermore, the project has a native token known as the MBOX token. Holders of this token stake it to earn additional incentives for themselves, encouraging them to continue holding and using it. They receive unique MOMO NFT Mystery Boxes when they state these MBOX tokens.
Components Of The MOBOX Platform
MOBOX seeks to be the next-generation gaming platform that combines fun with saving and earning. It has 4 distinct features, which are MWallet, GameFI, MOBOX BITS, and MOBOX Manager. The platform offers a rare and unique experience to all users. It comprises the following main components;
NFT Creator: This platform allows designers and artists to develop their unique MOMOs used across the MOBOX Games. It’s a convenient set of tools that assists users who wish to create MOMO NFTs by adopting the ERC-721 standard.
In addition, MOBOX removes all technical barriers with the aid of Smart Contracts. This simplifies the entires process and makes it easier for users to earn rewards for their creations.
The NFT Marketplace: MOBOX provides a decentralized market where you can trade, lend and rent MOMO NFTs with participants in other ecosystems.
It uses yield farming, liquidity pools, and NFTs to source the best yield strategies, generating unique NFTs for users. This allows MBOX users to play for free and earn in a singular process.
Game Creator: This platform provides a suite of benefits to indie developers, encouraging them to develop great games. It’s a collection of APIs that launches and publishes games on MOBOX.
The Game Creator platform gives developers access to MOMO NFTs, whether it’s a decentralized or a centralized game. It comprises a large gamer community with short payment schedules and low-cost publishing.
The Game Creator platform allows developers to include MOMO NFTs and MBOX tokens into their game with less difficulty.
MOBOX Project Team
The MOBOX team comprises highly experienced Smart Contrat developers and long-serving professional operators of social gaming platforms. They are skilled personnel from different parts of the globe united with the spirit of decentralization. The team has developed DApps with secure smart contracts transferring digital funds of about $2.5 billion.
A group of over thirty members makes up the MOBOX team. They developed DApps with secure Smart USDTether in 2017. They came together to brainstorm on a blockchain platform required following the emergence of decentralized finance.
And with their over ten years of experience, they planned on how to solve the problems that other platforms failed to solve in the previous years.
The Main Problems of MOBOX
The MOBOX project, just like every other Defi project, has its limitations or challenges. This section gives their list and explanation in detail.
Sustainable DEFI Solutions
APYs and Yield farming have provided many a new income stream, but sustainability has been their challenge. They have no inherent token value that has a long-term benefit for users. There has been a lot of speculation on the possible outcome of having a Bankless World since the inception of Defi. The process of generating the income streams takes the form of musical chairs.
Copycats join the ecosystem every day, with users going for the one with the highest yield. When the music finally halts, only those with genuine innovation will survive it.
From the above analysis of a musical chair, one can conclude that today’s DApps are developed for the minority. Everyone cannot partake either due to extremely high transaction fees (gas fees) or associated barriers to entry. On the other hand, MOBOX aims to create community-driven product values for its community. Therefore, it’s paramount to remove barriers and ensure that developers are honest and transparent.
This will help to expand and foster the community in addition to driving real value. However, most communities end up not receiving any reward for their unpronounced contributions.
The True Value of NFTs
The NFTs concept is among the initial ideas of how unique tokens and smart contracts can benefit both users and creators. Many projects to get the big thing have resorted to NFTs, with several past cases. However, among these numerous users, only a few have a product that shows their true NFTs value. The Non-fungible tokens are not supposed to be hype but a true revolutionary standard.
More so, it should ensure that the creators receive their effort and time.
The growth of the DApps relies on the resolution of its scalability challenges. Many DApps have failed due to extreme complexity in the onboarding process, long transaction times, and high transaction fees. There is the emergence of numerous solutions for lower gas fees and faster transaction speeds in transactions per second (TPS). Hence, users usually need to learn a new curve when trying to convert to a new blockchain.
How Does MOBOX Work?
The MOBOX infrastructure combines some elements of yield farming of decentralized finance, play-to-earn gaming, and the popularity of Non-Fungible Tokens. It aims to engage and empower users with a unique experience.
MOBOX achieves these via providing a gaming platform where users play for free and earn some rewards. In addition, the platform compensates users for their time and effort.
MOBOX has native NTFS known as MOMOs which you can get via mystery boxes. The platform allows you to trade on these MOMOs, stake them to farm MBOX tokens or use them as collateral.
The dubbed MOMO token master also enables you as a user to rob others (friends and foes) of their gold coins. You can do this by battling with them. Once you defeat them in this game, their coins will become yours automatically.
You can gain more MBOX tokens by engaging in leaderboard ranking without the need to spend any funds. With MOMO Farmer, payers can yield farm and earn more tokens. But trade action seems to be more competitive and educational. It features a weekly trading competition that is risk-free.
Moreover, the native MBOX token is also useful via Binance’s Launchpad. You can farm it for 30 days to earn an APY that worths over 100%.
What Makes MOBOX Unique?
MOBOX, as stated earlier, combines blockchain gaming, Defi yield farming, and NFTs. This offers new and advanced crypto fans unique opportunities with MBOX tokens to earn via various games.
It adopts a free-to-earn and model, which is a rare opportunity. The play-to-earn concept has recorded great success across different games, but it requires you to invest upfront most times.
The gaming platform aims to create an approachable system using a different approach from the existing ones. Its ecosystem is made up of tools for NFT and game creation. It encourages developers to explore various available opportunities.
By launching and publishing games on the MOBOX platform, the project helps to make the name of aspiring game developers popular.
This is the native token that powers the MOBOX gaming platform. It has no seed round (private investment) and no offer round. The token also has no pre-mine. Instead, they are distributed based on user activity on its numerous features and solutions. The token had a fair launch; it’s a BEP20 token with a total supply of 1billion to be distributed throughout 5years.
MBOX token is minted on the Binance Smart Chain with 20% and 8%, going to project team and strategic partnerships, respectively. In addition, 21% goes to marketing and community supporters, while users mine 51% of MBOX tokens. They mine it via GameFi mechanics in all the games released on the system. The token distribution for the first year is 40%, 22.5% for the second year, and 17.5% for the third year.
However, the fourth year will be 12.5%, while the remaining 7.5% will be for the fifth and final years. The team will burn all unmined tokens in the first year. The MBOX token serves several purposes in the system like;
The gaming platform adopts a theory that motivates token holders to be honest and achieve optimized payoff. It ensures that good players receive their rewards. Staking MBOX token unites developers, users, artists, and other members of the ecosystem. It ensures that they act as an entity to achieve a goal.
Holders of MBOX tokens can participate in the decision-making process of the system via the voting process. For example, they can submit a vote on proposals for changes in the platform, like its features. In addition, they can manage the platform’s activities such as events, the games to develop and integrate, development, and unique functions, etc.
The MOBOX gamification technique enables stakeholders to receive rewards as they play and enjoy the platform. This helps to create a system that is self-sustaining for community expansion.
NFT Mystery Boxes
You can stake your MBOX tokens to get unique MOMO NFT mystery boxes as the Mystery box avails the opportunity. Once you get the box, the choice is yours on whether or not to open it at once. You can decide not to open it all and instead trade with it.
MOMO NFT Auction
MOMO NFT Auction is another use case of the MBOX token; holders can decide to bid for limited Legendary MOMO NFTs with their holdings.
MBOX Price Live Data
The live MOBOX price as of the time of writing is $7.58, with $259,783,719 as of its 24hour trading volume. The token has a live market cap of $439,901,863 and a circulating supply of 49,493,115 MBOX coins.
MOBOX has a current maximum supply of 1,000,000,000 MBOX coins. Additionally, the coin recorded an all-time high of $10.16 in the early hours of August 30th, with a trading volume of $239.40 million.
Where and How to Buy MOBOX
The popular Binance exchange has listed MBOX tokens. You can buy the token on Pancake Swap. There are other popular crypto exchanges with reasonable MBOX trading volumes and a large user base. It’s better to use them as it will ensure your ability to sell your token holdings at will with lower fees. Using these exchanges also offers you some trading opportunities. They have MBOX in their listing, which will surely attract traders.
The top exchanges apart from Binance include ZT, Bitz, Hotcoin Global, and Gate.io trades on the token. For this review, we will focus on buying MBOX on the Binance exchange in the next section.
Buying MOBOX token from Binance
You can follow the step by steps guide below.
- Ensure that you hold enough BNB tokens in your crypto wallet that will cover gas fees. If you are using other exchanges, you need first to purchase any of the popular cryptos like BTC, ETH, or Tether (USDT).
- For newbies, the first step is to register with the Binance exchange with your browser and complete your KYC process. This entails uploading some of your documents like government-approved ID, utility bill, and proof of residency.
- On completing the KYC process, you will be required to add a payment method to fund your new account. Binance accepts a Credit/Debit card or a bank transfer, chose the most convenient although the debit card is easier to use.
- Once the fund drops into your new Binance account, use it to buy the equivalent amount of BNB or any of the tokens mentioned earlier.
- Create a wallet, Metamask; in this case, to enable you to get a wallet address, you will connect to Pancakeswap decentralized exchange. To create a Metamask wallet, download and install the wallet from your browser. Make sure you go for the appropriate version that is suitable for your browser.
- Finally, connect the downloaded wallet to Pancakeswap DEX and buy MBOX tokens using your wallet address.
Conclusion of MOBOX Review
This MOBOX review describes the project as a protocol that combines the advantages of Defi yield farming and gaming NFTs. It provides a free-to-paly and free-to-earn gaming platform via this combination; it runs on Binance Smart Chain.
Furthermore, the gaming platform shows true interoperability by combining the functionality of cross-platform and cross-chain for NFTs. A team of experienced Smart Contrat developers and skilled personnel from different parts of the globe developed the MOBOX system.
The protocol is made of great features that make it unique. It has a native utility token called the MBOX token. It powers the network and serves several purposes in the ecosystem, including governance votes to determine resource allocation.
The MBOX token is also used for Processing transactions via the NFT gaming platform and staking for incentives and bonuses. MOBOX has native NTFS known as MOMOs which you can get via mystery boxes. The platform allows you to trade on these MOMOs, stake them to farm MBOX tokens or use them as collateral.
However, the MBOX token had a fair launch, no private investment, no offering round, and no pre-mine. The token trades at $8.89 with over $ 2.5 billion as its 24 hours trading volume. We hope that you find this article informative and worthwhile. Remember, due diligence before investing in any token is your sole responsibility. Always invest what you can afford to lose.