The team behind the multi-blockchain mobile game Chainz Arena has announced a new platform that combines gaming with decentralized finance, and they named it Mobox. The platform has to become an easy entry for users into crypto, decentralized finance and blockchain games. They refer to this as GameFi.
Mobox gives each user a wallet, which automatically connects to free-to-play games. However, these games generate points that users can use to acquire non-fungible tokens. This is basically their way of combining NFTs with yield farming. In addition the platform will offer insights and analytics to manage crypto and digital assets.
With GameFi the team behind Mobox wants to combine the best of blockchain gaming and decentralized finance. In addition they want to merge the concept of free-to-play with play-to-earn. Therefore they introduced the term free-to-play-to-earn (F2P2E), which combines staking, yield farming, trading NFTs, governance and of course gaming.
Introducing MBOX token
Yup, governance. There will be a Mobox governance token which they named MBOX. This is an ERC-20 token with a supply of 1 billion. Starting from Friday October 16th they will distribute the token to players who hold SOUL tokens inside Chainz Arena. Players will need to login daily to claim their share of 30 thousand MBOX.
Starting from the first quarter of 2021 users will be able to access an early version of the Mobox platform, stake their digital assets, and vote for the platform. In addition the team will release a first game around that time. During the year the beta will launch, more projects will join the platform and interoperability between games needs to become possible.
Gaming already has decentralized finance
They concepts that Mobox will introduce aren’t new. It’s already happening all around the blockchain gaming space. There are many similarities between decentralized finance and blockchain gaming, and the play-to-earn business model in particular.
Decentralized finance are financial services built on top of blockchain technology. In these cases smart contracts on the blockchain have replaced the role of centralized institutes. As a result there are no intermediaries and users are able to trade, borrow, lend, buy or sell peer-to-peer.
There’s clearly a strong connection with gaming. Community is very important for gaming and decentralization alike. Only when there are enough contributors working together and against each other for the same rewards, the project gains value. Only when there are thousands of gamers battling for a digital trophy, this reward gets a sense of value. Play alone, and the reward will have nothing more than a little bit of emotional value.
There are a couple of excellent examples of the play-to-earn mechanic on the market right now. Think about the Small Love Potions in Axie Infinity, the REVV token in F1 Delta Time and SAND in The Sandbox. Guess what, from November 2nd until November 13th there will be many games using the play-to-earn business model on showcase at the Play to Earn Game Festival. Make sure you don’t miss out!
Robert Hoogendoorn is a gamer and blockchain enthusiast, but above all he’s a father and husband who moved to another country in 2014. One year later he got in touch with crypto, and the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a communication consultant for blockchain start-ups and writes not only for Play to Earn, but also other dapp websites and tech magazines.