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This Crypto Is Up 414% in the Past Month. Should You Buy?

This Crypto Is Up 414% in the Past Month. Should You Buy?
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The latest Binance Launchpool token release offers a platform with crypto, DeFi, and NFT games.

MOBOX (MBOX) is a cryptocurrency token that was launched in April 2021, but has recently become more popular. On August 19, 2021, Binance announced that MOBOX would be the 22nd project on the Binance Launchpool, which allows investors share tokens to earn new types of cryptocurrencies.

The announcement had an immediate effect. A month ago, the price of the MOBOX token was $1.47. It’s now $7.55, up 414% and a better return than most cryptocurrencies I’ve managed in the same time frame.

Its website describes MOBOX as a community-driven GameFi platform that brings together the best decentralized finance (shock) and non-fungible tokens (NFTS). Here is a breakdown of what that means and how MOBOX works.

What is MOBOX?

MOBOX is a platform with different uses. Its main attraction is cryptocurrency games that are played to earn, and it has released one game so far – MOMO: Token Master. It is scheduled for release two others this year – MOMO: Block Brawl and MOMO: Tactical Party Slayer.

By playing these games, you have the opportunity to earn MOBOX tokens and get NFT, which are digital assets that you can collect or sell. In this respect, it is similar to another popular cryptocurrency game, Axie Infinity (AXS). Unlike Axie Infinity, MOBOX is free to play, but better characters cost money.

Additionally, MOBOX is working on a game maker and creator of NFT. This will allow developers to release their own games and NFTs on the platform.

Although encrypted games represent a large part of what is offered MOBOX, but there is more. As mentioned before, it also contains DeFi applications. With pools of liquidity for MOBOX, you can bet encrypted currencies to earn bonuses.

A liquidity pool is a pool of crypto funds that are loaned to an exchange by investors. Each group includes one or more cryptocurrencies that the exchange can offer to trade in. For example, MOBOX has a pool of MOBOX and Binance Coin (BNB). If you have both and want to earn rewards on them, you can buy cryptocurrency with MOBOX.

How do MOBOX codes work

MOBOX tokens are the original cryptocurrency on the MOBOX platform, and they serve several purposes:

  • In-game currency: Players can use MOBOX codes to make in-game purchases, such as buying new characters. It is also used as a reward for in-game activity.
  • Verdict: MOBOX is a symbol of governance. With this type of cryptocurrency, token holders can submit and vote on offers that help determine the future of the platform.
  • the bet: Those who lend MOBOX tokens to the platform’s liquidity pools can earn rewards and the chance to win NFTs.
  • NFT Auctions: MOBOX has NFT auctions that you can bid on using its cryptocurrency token.

Besides these uses, MOBOX tokens can also be purchased as an investment in cryptocurrency if you think the price will go up.

Where can you buy MOBOX?

Since MOBOX is relatively new and has a low market capitalization, it is not on many major cryptocurrency exchanges. But there are still some options to buy or trade for.

If you are a US citizen, Gate.io is an exchange that you can use to buy MOBOX. Binance is also listing it, but only on its international platform. US customers need to use Binance.US, which has not added MOBOX to its crypto selection.

Should you invest in MOBOX?

Deciding whether you should buy MOBOX depends on what you think about crypto games and the MOBOX platform in particular. Given that it has a lot of competition and it is in such a new industry, it is best to be careful.

MOBOX has seen a price hike lately, but that was most likely because Binance Launchpool included it. For its growth to continue, it will need to continue to attract new players and investors.

Opinions of MOBOX as a game are mixed so far. It seems that some players enjoy or at least potential profits for playing. Others complained that you need to buy NFTs expensive to get a chance to win and that most of the way is very simple to play.

This is still very much a work in progress. The game creator, NFT creator, and multiple games are still in development. The MOBOX community currently has around 6000 members on Reddit. For the sake of comparison, Axie Infinity has around 55,000. Although MOBOX still has plenty of room to grow, there is no guarantee that it will become more popular.

If you are thinking of investing in MOBOX, I recommend visiting their website first and playing MOMO: Token Master. Games are what makes or breaks this cryptocurrency, so they can help you better evaluate MOBOX and its long-term chances of success.

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