MobileGo Review: Introduction to MGO Token - Coindoo

MobileGo Review: Introduction to MGO Token

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Jan 30, 2019
3 min reading time
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What Is MobileGo?

MobileGo (MGO) is a token which uses both Ethereum and Waves blockchains that enables peer-to-peer matches and decentralized tournaments for gamers.

The ICO was completed in May 2018 and is the sister currency of GameCredits (GAME), a token launched in 2014 which is considered to be a pioneer of gaming coins.

How MobileGo Works

As the token was launched, it was simultaneously issued by both Ethereum (EMGO) and WAVES (WMGO) platforms. This meant that even though MGO issued a total supply of 100 million tokens, there were actually 200 million tokens issued.

ICO investors had the option of choosing if they wanted EMGO or WMGO, with the coin not selected remaining frozen on their blockchain. This meant that if investors chose to claim 100 WMGO, 100 EMGO would be frozen on the Ethereum network.

But due to changes in MobileGo’s development and management, all tokens will be moved on the Ethereum blockchain. The beta testing swaps started in October 2018, and after the trials will be over, all WMGO tokens will be swapped with EMGO tokens.

The MGO token employs a deflationary system, as no more coins will ever be issued.

MobileGo and Gaming Industry

MGO is still working on its features, but there are a few releases which are near to completion and will put the project on the map.

The launch of their GPlay store will most likely attract a number of mobile developers that want to make their apps available on the store, as GPlay has purchase fees three times lower than those of other gaming app stores.

Unity is also looking to implement MGO into all games in the Unity Engine. Half of all existing mobile games run using The Unity Engine, so this will massively impact the project. Unity’s developers have been working strenuously at GNation headquarters to finalize the integration.

GNation will also be a participant at the Game Developers Conference (GDC) which will take place in March, as one of the largest gaming events of this kind in the world. This will serve as a great opportunity for MobileGO and GNation to get into contact with renowned studios and developers.

MGO Token

MobileGo uses Ethereum smart contract technologies to allow the players to purchase content from an online game.

Raising more than $50 million in its ICO in May 2017, the MGO token became the second largest ICO of its period. But after the ICO ended, many investors lost interest due to the team’s unresponsiveness and lack of further development.

After reaching its post-ICO high of $2.60 in June it dropped to $0.20 in November 2017. It followed the market’s growing trend in December, but by September 2018 the token reached lows of $0.09.

But in October 2018 a major restructuration took place in the management and development team of MobileGo. This rejuvenated the coin, which since then saw steady growths in price. By October 13 MGO was trading above $0.45, experiencing a 500% increase in price. The coin is currently trading at $0.248426 USD, having a market cap of $24,841,780 USD.

The MGO token was added by popular exchanges Bitfinex and Ethfinex. Other exchanges which have listed MGO are Cryptopia, HitBTC, Waves Decentralized Exchange, BitForex and IDAX.

Final Words

MobileGo is a project that has immense potential seeing as the mobile gaming industry is a billion-dollar industry which is continuously expanding. Just getting a small share of the action can drive its market cap significantly.

As the project shifted towards new developments and partnerships, it has seen some improvements which cannot go unnoticed.

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