The MobileGo Initial Coin Offering (ICO) campaign has officially started! A project by GameCredits Inc., MobileGo will help gamify the company’s Mobile Store and create incentive systems for gamers loyalty and participation. The GameCredits mobile platform has over 300 games by 150 different developers, with projections for roughly 1000 games later this year.
The crowdfunding campaign will last for one month, during which 70% of the 100 Million MobileGo (MGO) tokens will be available for purchase. Investors can participate with BTC, WAVES, ETH and, of course, GAME. No invesment cap has been specified for the crowdsale, although GameCredits Inc. reserves the right to terminate the ICO at any given time if too many funds are gathered.
GameCredits Inc. provides multiple rewards to incentivize investors. Not only will the ICO have early investment bonuses, it will also have a special Incent bonus, that will see 0.5% of the funds returned to the investors in Incent tokens. After the ICO, MGO tokens will also run on a buy-back program in which a proportion of the revenues from the sales of GAME via the GameCredits wallet will be used to buy back and burn MGO tokens periodically, reducing the total token supply. This system is akin to the one used by Darcrus.
The first of its kind, this MobileGo token will be a dual blockchain token that will exist both on the Waves and on the Ethereum blockchain. This is done by issuing the 100 Million tokens on both blockchains, an overall total of 200 million. However, through the use smart contracts and locked wallets, only half of these tokens will be in circulation at any given time. This means that, in order to move the MobileGo token from one chain to another, the tokens will be locked in one chain and released on the other.
The dual-token system leverages two very different blockchain platforms, Waves and Ethereum, to provide the best of two worlds. For example, the easy lite client, fiat integration capabilities, own decentralized exchange with new matching approach and the ability to pay for transactions with assets on the Waves blockchain along with the smart contract capabilities of Ethereum, make MGO a flexible token with multiple advantages.
So, what will these tokens be used for, exactly?
The GameCredits token serves as a useful tool for developers and gamers alike, providing an easy monetization system for developers and a much more efficient payment method for users. The MobileGo token, however, will play a completely different role that complements the GameCredits mobile platform and GAME token itself.
Within the mobile platform, there are many ways to acquire the MobileGo token. These “quests” create incentives to participate in the platform and make the experience more enjoyable and goal-driven.
The tokens can be acquired once a user reaches a certain level of status and through decentralized or centralized gaming tournaments hosted in the platform. Alternatively, the MGO token can also be purchased on an exchange (or through the ongoing ICO) as they yield multiple rewards for holders, including coupon reward discounts, free entrance to VIP gaming tournaments and access to private beta testing.
So, while the GAME token will continue to be the chosen payment method for the mobile platform, the MGO token will provide incentives, rewards, and, most importantly, competition and excitement.