What is MobileGo?
MobileGo (MGO) is a set of tokens (Ethereum and Waves) which can be used to for a variety of gaming functions, including the purchase of in-game items and e-sports wagering. It is a smart token that can be used to facilitate peer-to-peer matchplay, for use in decentralized tournaments that are available to millions of competitive gamers across the globe. The project is partnered with GameCredits, whose mobile store uses MobileGo tokens to make purchases.
History of MobileGo
MobileGo is a subsidiary of GameCredits Inc. which operates from Russia, Poland, India and Serbia. MobileGo only focuses on the mobile gaming industry. In early 2018, MobileGo conducted its ICO, which raised an astounding $55 million. A total of 100 million MobileGo tokens (MGO) exist in the network, with one portion existing on the Ethereum blockchain and the other on Waves. 50% of the total revenue from selling these tokens are used in direct marketing and MobileGo calculates a yearly profit of $5.30 per gamer. 20% of the fund is kept for legal issues and the remaining 30% is spent on further development of the ecosystem. There are over 150 game developers who publish their games on GameCredits, thus, utilize MobileGo system. In mid 2018, MobileGo partnered with Xsolla and Microsoft, thus expanding the range of services for which it can be used as a means of payment.
How MobileGo Works
MobileGo offers 3 major solutions, namely, a decentralized virtual marketplace, decentralized tournaments and decentralized P2P match play. The decentralized virtual marketplace will allow gamers to buy, sell or trade in-game contents from within the GameCredits application, using MobileGo as the basic currency unit or transaction token for the marketplace. The gamers can also create their own tournaments and prizes, automatically distributed, as well as their own participation model. The MobileGo Smart Contract will run the tournaments. This can extend to the 1-versus-1 scenario as well where gamers can challenge each other in duels or other game achievement challenges.
MobileGo is targeting the exploding market of mobile gaming and it certainly offers some cool features, some of which include:
- Smart Contract Gaming: MobileGo brings Smart Contracts to gaming and this has huge potential, as the online gaming market is massive and only growing by the day.
- Built-in Transactions: The MobileGo tokens and Smart Contracts operate inside the GameCredits ecosystem where every trade can be done without leaving the game.
- Competitive Gaming: Gamers can create tournaments, leagues, 1-on-1 or other types of game competitions, based on their own terms and conditions. Gamers from all over the world can participate in MobileGo-created tournaments.
- Transparent, Automated: Due to Smart Contracts running the show, the system is without human intervention and everything is automated. There is complete transparency which has the added benefits of keeping scams at bay.
- Huge Industry: The mobile gaming industry has a $58B yearly turnover, making it one of the biggest electronic-based industries, however, there are no set standards and the oligopoly is very evident. The decentralization of these services can help to even the playing field, and also make this coin popular with the gamers.