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Binance Labs Makes Strategic Investment In MOBOX To Bring The Gaming Platform Next Level

Binance Labs, the venture capital and innovation incubator of Binance, made a strategic investment in MOBOX, a gaming metaverse platform, to bring the gaming platform sector next level.

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MOBOX is a cross platform gaming metaverse that combines automated optimized DeFi yield farming and gaming NFTs to create a GameFi Metaverse. Within the metaverse of MOBOX, also known as MOMOverse, players can create content or enjoy others’ creations on any device.  The MOBOX team has created a unique ecosystem for developers, players and NFT collectors who are rewarded for sharing and enjoying the platform.

MOBOX will also be the first metaverse to integrate with the Binance ecosystem, utilizing many of the Binance tools such as Binance Mini Program, Binance Pay, and Binance NFT Marketplace.

To drive the adoption of the decentralized content creation sector, MOBOX team is developing methods and processes designed to apply blockchain technology as effectively as possible.

Bill Chin, the Head of Binance Labs Fund, said “With the team experienced in developing and operating social gaming platforms, we believe that MOBOX can suggest a game-changing gaming platform and user experiences to develop the gaming platform sector even more.”

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He added “MOBOX is a project that we have high hopes for; MOBOX has been collaborating with the entire Binance ecosystem organically. It has been building the smart contracts on the Binance Smart Chain (BSC), selling the mystery boxes on Binance NFT Marketplace, and launching the token through Launchpool. These were all part of the strategic investment and we hope to bring the innovation to the gaming platform with MOBOX.”

The strategic investment of Binance Labs in MOBOX enables the team to accelerate the development of MOMOverse and MOMO Chain, complete it’s player created Decentralized Autonomous Guild (DAG), build its Game Creator and NFT Creator tools, onboard talented Game Studios and Intellectual Property, and expand it’s unique retail NFT Mystery Boxes strategy, all with the goal of providing developers and gamers with an easy to onboard and fun blockchain gaming metaverse.

Furthermore, MOBOX has set up an incubation fund in collaboration with Binance NFT Marketplace on the decision committee, METAfund, to educate, help and advise developers on blockchain gaming. The fund will be used to assist game developers in bringing their great titles to the blockchain and MOMOverse.

Co-founder of MOBOX, SOON, said “We are excited about this announcement and to work closely with the entire Binance ecosystem to bring ‘fun to play’ and ‘play to earn’ gaming mechanisms to the Binance community while utilizing the speed and low gas fees of the BSC blockchain. On top of that, we want to share what we acquired while operating the team through the METAfund and hope to contribute in supporting promising gaming platforms and raising talented developers with Binance NFT.”

Launching in April 2021, MOBOX has successfully launched three NFT games, attracting 800,000+ users in 6 months. In the process, 200+ million NFT trades happened and over 1,000,000 unique NFTs have been minted on the BSC. MOBOX will be integrating the MOMO World game as the first metaverse to launch on the Binance Mini Program and utilizing Binance Pay.

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[To share your insights with us, please write to sghosh@martechseries.com]

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