Solana gaming project MixMob to launch native $MXM token on leading exchanges

MixMob, a Solana project aimed at advancing the Web3 gaming ecosystem, has announced the launch of its native token $MXM. According to the project, several top tier crypto exchanges, including Bybit, have confirmed listing support for the gaming token.

$MXM utility

MixMob first introduced its native token during its NFT sale, an event that proved successful with the project raising $2.25 million as participants quickly snapped 9,000 digital collectibles. With this launch and exchange support, the project can tap into the MXM token’s utility to take Web3 gaming to the next level. $MXM has three key ecosystem functions.

In terms of governance, $MXM holders get voting rights and can contribute to the overall development of the game by voting on key proposals and decisions. MixMob expects the governance feature to help drive the evolution of its MXM League, Turbo Arena, and Crews.

While ostensibly a governance token, $MXM also helps power MixMob’s rewards mechanism, giving players earning opportunities when they complete certain tasks or unlock specific game targets. The token also contributes to the in-game economy by facilitating the gaming platform’s referral system. Bybit will be the first exchange to list $MXM, with the Token Generation Event (TGE) set for February 1.

MixMob approach key to GameFi success

The launch of $MXM is a new milestone for MixMob, a project that initially launched as a card strategy racing game before evolving into a GameFi ecosystem.

MixMob says it took time to release its native token, stating in today’s announcement that the approach is central to the project’s play-to-earn (P2E) game plan. In particular, the goal was to establish a large community presence and traction before going live, with this seen as the best way to tackle one of the challenges that plagued early P2E success stories like Axie Infinity.

The MixMob team consists of experienced game developers. This includes devs who previously helped bring FIFA and Halo games to the masses.

MixMob token’s outlook

Solana is one of the crypto ecosystems that has attracted notable bullish forecasts from market experts, one of which is ETF issuer Franklin Templeton. As a key player in the Solana blockchain network, MixMob could benefit from the overall optimism and expected growth currently driving interest and investment into the ecosystem.

After recent spikes for the SOL token coincided with an explosive run for the likes of Bonk, the current outlook has a few notable tokens seeing huge gains.

Among these are Solana-based DEX Jupiter’s native token $JUP and meme coin Wen ($WEN). The $MXM token could tap this narrative to rally as MixMob helps reinforce Solana’s growth as a GameFi ecosystem.

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