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Highlights
- MOBOX is a non-fungible token (NFT) gaming platform listed for trading on the Binance exchange. It was launched in April 2021.
- MOBOX (MBOX) saw gains of 156% on Thursday, pushing its price to a new high of US$5.47 before correcting to US$4.66 on Friday, 20 August at 5:06 PM AEST.
- One can easily purchase MOBOX (MBOX) tokens from a range of crypto brokers and exchanges.
The combination of crypto and gaming has gained significant traction this year, with NFT games like Axie Infinity making huge returns as millennials, mainly looking for profitable ways to kill time amid the COVID-19 lockdowns, which have been enforced across the world in the past 18 months.
Source: © Bashta | Megapixl.com
Now a new play-to-earn NFT game called MOBOX has entered the fray generating considerable buzz in the past 48 hours.
MOBOX (MBOX) saw gains of 156% on Thursday, pushing its price to a new high of US$5.47 before correcting to US$4.66 on Friday, 20 August at 5:06 PM AEST.
What is MOBOX?
MOBOX is a non-fungible token (NFT) gaming platform listed for trading on the Binance exchange. It was launched in April 2021.
The MOBOX platform combines NFT gaming with Decentralised finance (DeFi) yield farming.
By playing the online NFT game, users can earn the MOBOX native cryptocurrency – MBOX.
The MBOX utility token can be used for various functions, including processing transactions through the NFT gaming platform.
Since MOBOX uses a proof-of-stake consensus, its token can be used to stake for platform bonuses and incentives.
Holders of MBOX can further stake the token to determine how the network’s resources are allocated.
MBOX is ranked #271 according to CoinMarketCap, and as of 20 August 2021, has a market cap of US$172,028,856 (AEST 5:12 PM).
MBOX has a total coin supply of 1 billion tokens.
51% of those are minted by the community, while 21% are allocated for community contributors, 8% for strategic partners, and the rest for the team.
Auto Buyback Smart Contract
MBOX has a fairly unique coin distribution method thanks to a unique smart contract that sees the token being released over five years.
400 million of the one billion tokens are being released in the first year. The remaining four years will see a diminished release of the MBOX tokens.
The burning of the tokens is achieved through 80% of the platform fees, which are then triggered to buy back the tokens and subsequently burn them to curb the token’s supply and thus maintain demand.
Source: © Wrightstudio | Megapixl.com
How Can I Purchase MOBOX?
MOBOX (MBOX) tokens can be purchased easily from a range of crypto brokers and exchanges, including the more popular exchanges like eToro. Simply sign up, fund your account, and start trading.
Many say that NFT gaming is nothing more than a fad. But there’s no denying that right now, this so-called fad is making a tonne of money by the day.
Sceptics within the crypto community are busy mulling over whether NFT gaming has any future. Perhaps, the more relevant question should be – given the fact the value of these NFT gaming cryptos seems to rise by the day - why wouldn’t an investor get in while it still hot?
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