MobileGo (MGO) Is Up More Than 40% Since Thanksgiving
The last few weeks have been an extremely challenging time for crypto enthusiasts. Major coins like Bitcoin (BTC) and Ethereum (ETH) have been demolished while many smaller alternative coins have done even worse. Fortunately, there are still a few bright spots left in the market that traders may want to turn their attention toward. One of those bright spots is MobileGo (MGO).
Although most cryptos have taken a severe beating in the past few weeks, MGO has done just the opposite. As seen in the chart below, MGO has soared by more than 40% since Thanksgiving.
A few of the reasons for the surge include being in an industry with rising popularity, innovative methods of earning gaming currency, and key strategic partnerships.
Exploding Popularity of the Gaming Industry
Despite the volatility in the cryptocurrency markets, blockchain remains one of the most exciting technologies being developed. Blockchain has the potential to disrupt global industries and take them to levels once thought impossible. MobileGo is attempting 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 games market is expected to grow from $137.9 billion in 2018 to more than $180.1 billion in 2021.
One of the company’s main innovations is the development of GShare. GShare is a special tool which allows its users to earn GShare Gold coins by harnessing the power of their computers. In this way, it’s very similar to cryptocurrency mining. These coins (not cryptocurrency) are a soft currency which 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 browse the internet.
Additionally, gamers can also earn GShare Gold Coins by entering tournaments. There is a wide variety of tournament options so that players can choose tournaments that fit their interests and skill levels. In this way, it’s really an open environment that caters to individuals of all backgrounds.
Once the coins are earned, users will have several different redemption options that include the following:
- Tournament Entry Fees
- Social Activity Platforms
The option to use the coins through social media avenues is extremely interesting. This presents an opportunity for the coins to gain international recognition by uniting different groups of people for positive results. These social activity opportunities should become clearer soon.
MGO coins can be earned through special promotions, exchange trading, or by winning tournaments. The last one is especially important as it’s directly related to GShare. Users can use their GShare Gold coins to enter tournaments that fit their skill level. And, if successful, users will earn MGO coins by performing well.
Being able to earn MGO coins by winning tournaments is very exciting considering the recent partnership news with Xsolla. Xsolla provides game developers with a comprehensive suite of flexible tools and service to help launch, monetize and scale their games globally. In late October, Xsolla announced that it would start accepting made-for-gaming cryptocurrency, MobileGo, for its PC and mobile games partners.
The partnership means that developers will be able to receive royalty payouts in MGO cryptocurrency. As stated earlier, the gaming industry is expected to grow significantly in the future which makes this a very compelling opportunity. As blockchain technology and gaming continue to grow in the future, it’s safe to assume that more and more game developers will be interested in cashing out via cryptocurrency. MGO being an option this early in the game is a massive advantage.
Although it’s still early for MobileGo, the company appears to be making all the right moves in an effort to attain blockchain gaming dominance. Only the future will tell whether the company will prove successful, but things certainly appear promising at the moment.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.