Amid a host of metaverse projects currently on the rise, one gaming altcoin is surpassing all expectations after it rallied 138 percent in a single day following the announcement of its integration with the Binance Smart Chain (BSC).
Mobox (MBOX), part of the GameFi sector, a combination of decentralised finance (DeFi) and gaming, combines non-fungible tokens (NFTs) and yield farming to create a play-to-earn ecosystem. The project aims to connect metaverses through NFTs, as well as achieve NFT interoperability across various platforms and games.
Mobox has effectively launched its metaverse, MOMOverse, on the BSC, a cheaper alternative to the Ethereum network that is also compatible with the Ethereum Virtual Machine (EVM). At the time of writing, MBOX was trading at US$10.04, according to data from CoinGecko, which represents a 164 percent increase over the past 30 days.
According to the Mobox announcement, users will be able to create their own avatars to represent themselves in the MOMOverse. Avatars will also be able to mine MBOX, Mobox’s native token.
With the launch of the MOMOverse Phase One, the company is also giving away 5000 Mystery Boxes to the value of over US$1,000,000:
MBOX will allow its users to stake its native coin to earn rewards called Mystery Boxes. The MOMOs revealed from the Mystery Boxes will be mining the MBOX token [and will] increase the node hashpower so you can mine more MBOX tokens.Mobox announcement
Metaverse Tokens Shoot to the Moon
As NFTs continue to boom, metaverse projects and tokens are also on the rise, with many new and exciting projects preparing to launch. For an in-depth look at four of these projects, check out this Crypto News Australia guide.
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