What is MOBOX (MBOX)?
MBOX is the native token of a BSC-based GameFi platform that goes by the same name. It provides users with NFT-based gaming, yield farming, and metaverse development possibilities. If you’re interested in the live MBOX price, look at the MOBOX price chart that is placed above.
The main product of the platform is the MOMOverse. It’s a metaverse that provides users with NFT-based games and even allows them to build their own spaces on the metaverse.
Talking about games, MOMOverse has a ChainZArena, which provides players with various RPG games. Besides that, it offers such games as Block Brawler, Token Master, and MOland Defense, which are all NFT-based games.
The MOMO NFTs can be purchased on the NFT marketplace provided by the metaverse. However, they can also be minted by unlocking NFT Mystery Boxes. The MOMO NFTs are used in all MOMOverse games.
Besides using them in the games, MOMO NFTs can be staked on NFT Farmer to mint new MBOX tokens. The newly minted MBOX tokens can then be staked in the form of veMBOX to get new NFT Mystery Boxes.
Lastly, MOMOverse will provide users with MOland. It will allow them to develop their own spaces on the metaverse, create unique avatars, explore and build new lands, go on quests and battles, and play various games in their own space.
The Story of MOBOX
The MOBOX crypto project was founded in April 2021.
In November 2021, Binance Labs invested in MOBOX. As the first metaverse to utilize the Binance ecosystem, MOBOX makes use of such services as Binance Mini Program, Binance Pay, and Binance NFT Marketplace.
Besides, in order to inform, assist, and counsel developers on blockchain gaming, MOBOX has established an incubator fund in partnership with Binance NFT Marketplace on the decision committee METAfund.
The Purpose of MBOX Tokens
MBOX tokens are the driving force of the whole metaverse. They can be used for various purposes including governance, liquidity mining, and making in-game purchases.
Talking about governance, MOBOX tokens provide holders with the ability to participate in the decision-making processes considering the further development of the MOBOX crypto project.
In terms of liquidity mining, by staking MBOX tokens in liquidity pools, users are able to get more MBOX tokens. Besides, as mentioned before, users can stake veMBOX tokens to receive NFT Mystery Boxes.
Lastly, MOBOX coins are used to make various in-game purchases including buying new characters, joining the MOBOX lottery, and purchasing any other in-game item.
Don't forget to check the current (or previous) MBOX price, which can be seen on the MOBOX price chart that was mentioned before.
Tokenomics of MBOX
The max supply of MBOX tokens is 1 billion. There were no pre-sale events as it is planned to distribute MBOX tokens over a five-year period. 400 million tokens were released after the launch. With each year, the amount of released tokens will decrease. Half of the total supply is dedicated to token minting, while the other half is put aside for community contributors, strategic partners, and the MOBOX team.
Besides, the MOBOX crypto project employs a buyback-and-burn mechanism to keep the MBOX price from decreasing. How does it work? MOBOX takes 80% of the fees paid on the platform to buy a portion of MBOX tokens from circulation and then immediately burns them.
