MOBOX — A New Type of NFT Yield Farming

With a whopping 30,000 NFTs minted, $5,000,000 in NFT trades, and 150,000,000 TVL in the first week of launch, MOBOX is set to take the Binance Smart Chain (BSC) by storm.

By
BSCNews
on
April 12, 2021
Category:
BSC News

Introduction

MOBOX is a team built on extensive experience in developing and operating social gaming platforms. The project leans on their successful years in the industry and their team of knowledge and talent worldwide. The project focuses on the community and the aim to bring Free-to-Play-to-Earn a reality. They also incorporated a unique type of NFT Yield Farming platform that we have not seen in the DeFi Space. The team has stated that "[they] wanted to bring free to play and play to earn a reality."

The MOBOX Platform engages users by combining the best of DeFi, Gaming, and NFTs. MOBOX has established a unique infrastructure that builds on the growing DeFi ecosystem and combines it with gaming through unique NFTs. The platform also uses Liquidity Pools, Yield Farming, and NFTs to offer a complete DeFi experience. This GameFi infrastructure will find the best yield strategies for users and generate unique NFTs that can be used across a multitude of games to be released by the MOBOX team. This infrastructure's successful start has allowed MOBOX and its community to have a well-established launch on the BSC. Within the first week of launching MOBOX.io, the NFTs that have been traded on the MOBOX platform have already exceeded $5,000,000.

The team behind the MOBOX platform has over ten years of experience in the gaming industry and four years of experience in the blockchain dApp industry. Their previous dApp ventures were met with over 4 Billion USD equivalent utilized by smart contracts. The MOBOX team plans to branch out and establish themselves even more into the industry with such a unique protocol.

Instead of creating their own DeFi ecosystem, they built on top of the BSC network to leverage the rapidly growing user base. The team has incorporated a novel form of NFT-Gammifaction through a Free To Play, Play To Earn ecosystem

Mechanics of MOBOX

Users can deposit stable coins or use one of the eight incentivized LP pools. At the moment, this is only available on the BSC. In return, users get the benefits of automatic compounding executed by the MOBOX Smart contracts. An additional bonus to utilizing these pools is that users gain Keys used to open up Chests that will contain unique NFTs. Users will need to accumulate one key before they can unlock a chest and reveal their NFT.

(A visual flow chart)

NFTs are then automatically staked on the MOBOX platform. Once staked, the NFTs mine the platform's governance token, MBOX. NFTs will each contain a respective mining power that allows for more rewards. The more unique the NFT, the higher the mining power it has, granting additional mining speed.


What's to Come for MOBOX?

The goal for the team at MOBOX is to help users earn and create true NFT interoperability between chains and between games. The team will build a bridge where the NFTs can share between three blockchains: Ethereum, TRON, and the BSC.

MOBOX will also be launching three NFT games this year. The incorporation of NFT Gamification will allow users to play and earn using the MOMO NFTs.

Achievements

The introduction briefly touched on how the MOBOX platform managed to have over $5,000,000 of volume, and over 30 000 NFTs minted within less than a week of launching. To put things into perspective, the highest price paid for a MOMO NFT is $60,000.

The MOBOX Platform has managed to achieve over $150,000,000 Total Value Locked (TVL). Mobox aims to be a next-generation platform combining saving, earning, and fun into one dApp.

If you want to be a part of this experience, join in, stay informed whilst being a part of this unique platform community.

Follow MOBOX on:

MOBOX.io

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