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The last few weeks have been an extremely demanding time for cryptic enthusiasts. Major currencies such as Bitcoin (BTC) and Ethereum (ETH) have been demolished while many smaller alternative currencies have done even worse. Fortunately, there are still some bright spots left in the market to which operators may want to turn their attention. One of these bright spots is MobileGo (MGO).
Price Surge
Even though most of the scramblers have taken a severe beating in recent weeks, MGO has done exactly the opposite. As seen in the table below, MGO has increased by more than 40% from Thanksgiving.
Some of the reasons why the wave is due to being in an industry with increasing popularity, innovative methods to earn game currency and key strategic partnerships.
Explosive popularity of the gaming industry
Despite the volatility of the cryptocurrency markets, the blockchain remains one of the most interesting technologies under development. The Blockchain has the potential to destroy global industries and bring them to levels once deemed impossible. MobileGo is trying to do just that in the gaming industry.
The gaming market is an extremely exciting opportunity as the industry is growing by leaps and bounds. According to Market Researcher, Newzoo, the global gaming market is expected to increase from $ 137.9 billion in 2018 to over $ 180.1 billion in 2021.
GShare development
One of the main innovations of the company is the development of GShare. GShare is a special tool that allows its users to earn GShare gold coins by exploiting the power of their computers. In this way, it is very similar to the cryptocurrency mining. These coins (not cryptocurrency) are a soft currency that will be earned as soon as the user runs the app and presses the "start" button. Users can play their favorite games, work or simply surf the internet.
In addition, players can also earn GShare Gold Coins by entering tournaments. There is a wide range of tournament options so that players can choose tournaments that suit their interests and skill levels. In this way, it is really an open environment that is aimed at people from all backgrounds.
Once the coins have been earned, users will have several redemption options that include the following:
- Fees for participation in the tournament
- Platforms of social activities
The option of using coins through social media is extremely interesting. This represents an opportunity for currencies to gain international recognition by uniting different groups of people to achieve positive results. These opportunities for social activity should soon become clearer.
Xsolla partnership
MGO coins can be earned through special promotions, money exchanges or winning tournaments. The last one is particularly important as it is directly related to GShare. Users can use their GShare Gold coins to participate in tournaments that suit their skill level. And, if successful, users will earn MGO coins and get good results.
Being able to earn MGO coins by winning tournaments is very exciting considering the recent partnership news with Xsolla. Xsolla offers game developers a complete suite of flexible tools and services to help launch, monetize and scale their games globally. At the end of October, Xsolla announced that it would start accepting the game-based cryptocurrency, MobileGo, for its PC partners and games for mobile devices.
The partnership means that developers will be able to receive royalty payments in MGO cryptocurrency. As stated earlier, the gaming industry is expected to grow significantly in the future, which makes this opportunity very interesting. Since blockchain technology and games continue to grow in the future, it is safe to assume that more and more game developers will be interested in cashing in through cryptocurrency. MGO is an option this at the start of the game is a huge plus.
Conclusion
Although it's still early for MobileGo, the company seems to be making all the right moves in an attempt to reach a dominant position on gaming blockchain. Only the future will tell if the company will succeed, but things certainly look promising at the moment.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.
Featured image courtesy of Shutterstock.
