A gaming altcoin is in the middle of an explosive rally following the announcement of its integration into the Binance ecosystem.
Mobox (MBOX) is part of the GameFi sector, a combination of gaming and decentralized financing (DeFi).
The crypto project is a gaming platform that uses yield farming and non-fungible tokens (NFTs) combined to create a play-to-earn ecosystem. It aims to connect each metaverse through NFTs and achieve NFT interoperability across different games and platforms.
Recently, Mobox announced that it will launch its metaverse called MOMOverse on Binance Smart Chain (BSC). The BSC is one Blockchain, offered by the crypto exchange Binance as a cheaper alternative to the Ethereum Network that also works with the Ethereum Virtual Machine (EVM).
According to the announcement, users will be able to create their own avatars that will represent themselves in the MOMOverse, as well as giving them the ability to mine MBOX, Mobox’s native token.
Users can also use MBOX to earn rewards called “Mystery Boxes”.
“In return for staking, MBOX users are rewarded with mystery boxes that can be opened to reveal MOMO-NFTs…. Exciting, isn’t it ?!
The MOMOs revealed from the mystery boxes will mine the MBOX token! The MOMOs increase the hash power of the nodes so that you can mine more MBOX tokens! “
Following the announcement, MBOX jumped from around $ 6.45 and continued to rally as high as $ 15.38 before pulling back, which is a 138% gain in just over a day.
At the time of writing, MBOX is trading at $ 11.19, about 27% below its all-time highs but up 164% in the past 30 days.
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Source: Crypto News Deutsch