MMO Project Review – Gamer’s eBay
Many of us have grown up using one of Atari, Nintendo, PlayStation, or XBOX products. Video game industry initially started with focus on kids and teenagers but today involves people of all age groups. It has evolved into a massive $138 billion industry with over 2.3 billion gamers worldwide. The digital gaming industry is booming with a growing appetite for online gaming worldwide. It is growing leaps and bounds as compared to the other industries. In-fact it has already overtaken both movie and music industry. Not only are the global giants taking advantage of the plethora of innovative opportunities that this industry is bringing about, but the startup gaming developers are also benefited.
The exponential rise of online gaming industry can be witnessed due to its parallel connection with smartphone adoption. The rising smartphone usage has also become one of the important factors contributing to the success of the online gaming industry. Unlike the traditional gaming era, downloading games has become easier through Wi-Fi and mobile networks from anywhere. Thus, the adoption of smartphones has resulted in accessibility and become a reason for cost reduction in internet data packs. It is changing our home into virtual tennis courts and boxing rings.
Another interesting development in this domain is the emergence of the blockchain technology. Blockchain is making the gaming trade transactions fast, cheap and borderless. One powerhouse, which has been in this industry for more than a decade as a community market for gamers to trade accessories, has now started to create deep inroads into this emerging domain: MMOPro.
MMOPro is already an established and trusted entity in the gaming domain having grown leaps and bounds since 2008; they boast a huge gamer community of more than 250k and they facilitate trade of almost all the online games across the globe.
What is MMOCoin?
MMOPro ventured into blockchain domain last year when they created MMOCoin to further enhance user experience and make it seamless. MMO Coin is cryptocurrency based on Proof of Stake (PoS) Scrypt Algorithm. The mining (i.e.: minting) / transaction verification is done based on the resource (MMO Coins) held. PoS protocol reduces the risk of double spend or distributed denial of service attacks, as the cost to conduct such attacks are comparatively much higher while the transaction fees are also reduced due to optimal utilization of the resources deployed across the network.
Moreover, the reward structure is based on the blocks generated by any node and it follows a unique Tiered structure where the rewards increase as the count of coins held increases. You can check their Block explorer here.
How Does MMO Coin Stand Out
MMO team has looked to implement several features and practices to help it get ahead of its competitors. These include:
Less Volatile: While there are multiple cryptocurrencies operating in the market, often many of them lack of a real product or use case and are subject to a huge volatility. MMOPro project has a big advantage over other similar ones. They have been offering their services to a big community for more than ten years and encouraging MMOPro registered customers to primarily use MMO coin as a form of payment will only increase its use case and enhance the value proposition. Moreover, it also keeps inflation in check and thus provides a stable eco-system to operate.
Decentralized P2P Marketplace: This is perhaps the biggest benefit of MMOCoin. Through their decentralized Peer-to-Peer marketplace, the team has created a great system that is borderless, transparent and scalable. It is a real life execution of Mr Satoshi Nakamoto’s vision of decentralized economy. Further merchant on-boarding process is underway which will strengthen the ecosystem further. In days to come users across the globe will be able to find almost anything they need their gaming requirements. This is why we feel it would be like blockchain eBay for gamers across the globe.
Secure transactions through escrow mechanism: This is yet another great feature that builds the credibility of the platform. All transactions are parked in an escrow account while the product and funds are released to the respective parties once the transaction is confirmed by all the parties involved.
Earning opportunity: As explained earlier the PoS mechanism creates a nice passive income cash flow for long-term holders.
Fast and cost effective: Compared to the traditional modes of payments like PayPal, Skrill, bank transactions, etc., the transaction on MMOCoin blockchain settles within seconds and helps users to save a lot of money on transaction fee. This overall helps in spreading out the word fast and thus contribute towards cryptocurrency mass adoption.
While we are at a very early stage of blockchain adoption in gaming, we think that the following factors are expected to increase the valuation of MMOCoin exponentially:
- Technological Advancements
- Enhanced Internet connectivity
- Online Streaming and Video Content Platforms
- Accessibility of Gaming devices
- Social Media
- Investment influx across borders
After garnering the benefits of digitization, gaming developers are bringing out new gaming formats backed by blockchain, artificial intelligence and machine learning technology. This is going to create a perfect balance of opportunities for both developers and end-users, making it big in 2019, especially for all involved with the MMOCoin and the gaming industry.