MoBox: Is it a good game to earn tokens (GameFi)?

MOBOX made headlines in the crypto press last August after being introduced on the Binance LaunchPool. Since then, its price had increased by more than 400% in less than two weeks, according to data from CoinMarketCap. Since then, the token has seen a decline…

Now, the craze for the new has passed. That said, Motos still remains a major game in the game-Fi universe.

Should you then rush into your token and invest in this new GameFi platform?

Zone Bitcoin takes stock of Mobox and helps you see more clearly its many opportunities to make money.

Indeed, this is the goal of this type of game that we call “gameFi”.

What is Mobox?

mobox is a gaming platform blockchain play-to-earn (P2E) which combines elements of decentralized finance (DeFi) and classic gaming mechanisms. This is also whyit is designated as a platform game fi (the contraction of Gaming and DeFi), in this case free and strongly focused on its community. 

Mobox is in fact governed by a DAO via which holders of its native token (MBOX) can vote on proposals to modify the platform's parameters.

But Mobox is also a metaverse (the MomoVerse) with its own economic model, allowing players to earn passive income by completing certain tasks or quests. Add to this opportunities to liquidity mining via MBOX-BNB LP tokens as well as an NFT marketplace, with different rewards. 

For example, players are assigned a “hash power” score. The latter will determine the speed at which they will be able to accumulate rewards.

Each NFT in the MoBox metaverse belongs to a specific group with particular attributes, including hashing power that will optimize their earnings. The higher the latter, the more they will be able to unlock new quests, equipment and move to higher levels. 

To simplify things, the MOBOX platform is broken down into three major components:

1. An NFT marketplace

MoBox is a decentralized marketplace where users can trade, lend, and rent NFTs in the MOBOX metaverse.

There are options to purchase non-fungible tokens in batches as well as to exchange them without stopping your yield farming or staking. The project grants itself a 5% commission on NFT sales, 80% of which is allocated to its Buyback and Burn pool.

2. A Blockchain gaming platform

Mobox allows independent developers to create their P2E games within its ecosystem. At the time of writing this article, 3 free Play to earn are available (Block Brawler, Token Master and Trade Action), rewarding users for their engagement and active participation. 

At the same time, developers can take advantage of platform game creator to launch their own titles with an equitable revenue sharing model.

3. A Yield Farming solution: MOMO Farmer 

MOMO Farmer is probably the aspect of the Mobox ecosystem that truly makes it unique. Its yield farming center, integrated into the metaverse, allows users toe stake the native Mbox token as well as other crypto. But also to provide liquidity to pools (named Crates) against tokens (fungibles) and NFT rewards. 

How to earn passive income with Mobox?

Combining free games with the play-to-earn model, MOBOX offers its players several ways to earn MBOX tokens :

• Staking unique MOMO NFTs to mine MBOX tokens (each NFT has a unique hashing power, which determines the reward rate its holder will be eligible for)
• Lending NFTs to other players in exchange for MBOX
• Play blockchain games on the platform
• Earn MBOX thanks to Yield Farming via MOMO Farmer

Players can also earn NFTs and other cryptocurrencies by participating in raffles, lotteries and other BOX events organized by MOBOX and its partners.

Another interesting detail, users can generate unique MOMO NFTs by purchasing a key (a token that can be exchanged on secondary markets) to open a chest. Initially, users could farm keys through MOMO Farmer. But the project has since changed the key rewards to MBOX tokens. 

Players can also use the MBOX tokens they purchased or earned to purchase a mystery box (BOX) on the NFT marketplace. Opening a BOX will generate a new NFT for its holder (with different properties).

The MBOX token

👉The MBOX token (which follows the Binance Smart Chain BEP-20 token standard) is the native utility token of the Mobox ecosystem. It is therefore an essential element of gamified reward mechanisms allowing the platform to encourage its users to carry out certain actions. 

It is also used for protocol governance. Thus, holders who hold MBOXs can submit and vote on proposals to decide which new games will be integrated and the direction the ecosystem will take. 

Players who stake the MBOX token will receive veMBOX, to use for governance or as an entry ticker to farming events. 

Another important detail to know: Mobox NFT game has an “auto-buy and burn” mechanism to limit the supply of MBOX. (Read our article on the fact of “burn” tokens). This mechanism relies on a series of smart contracts to verify the average price of the MBOX token over 72 hours.

It also holds a reserve pool of Binance Coin (BNB), used to trade MBOX tokens if the price falls below the average during this 72-hour time frame.

What are the criticisms of Mobox?

The crypto community is generally quite cautious regarding the performance of the Mobox token, largely due to the weakness of its distribution model. But also because the gaming experience, on which a large part of its added value is focused, is not to the height of other P2Es that we have been able to discover in recent months. 

This does not mean that the Mbox will not perform well in the short term. It has notably experienced a strong increase since its launch last August, reaching a current value of 3.39 euros according to CoinMarketCap. But we can doubt its ability to stand the test of time.

Let's see what Mobox's next developments will be, and how it will manage to attract new players. This is all the more true as the competition is always stronger (as with games like DeFiLand on Solana for example).

Another weak point, the Mbox is only available on Pancake Swap (a DEX) as well as on Binance. In a lower volume, it can be traded on Gate.io. This remains very low for a token that seeks to gain scale….

Cross-chain games are more sought after recently.

Our verdict on Mobox 

Since its launch, MOBOX has significantly developed its platform. The team has rolled out major updates, including: 

• Yield Farming contracts optimized (to ensure higher yields);
• The circulation of legendary NFTs (for streamers and e-sports players)
• Several mining pools for its tokens; 
• A chat system facilitating exchanges between users. 

In terms of adoption, MOBOX is currently the second most popular blockchain game on Binance SmartChain and the sixth on all blockchains. According to DappRadar, MOBOX would also count 210 unique users, almost 77 million transactions, a TVL (total value locked) of $182 million and a volume of $30 million in the last XNUMX days.

-Discover the site mobox

We can therefore conclude that the ecosystem is promising, even if it still needs to prove itself to be considered a safe investment!

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Note: No financial advice is given in this or any other article on zonebitcoin. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.

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