7 Things to Know Before You Buy MOBOX – Motley Fool

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by Lyle Daly | Published on Sept. 4, 2021
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Has MOBOX caught your attention as a crypto investment? Here's what you should know before buying in.
In an up-and-down crypto market, MOBOX (MBOX) has been one of the big movers lately. It hit an all-time high near the end of August, going from under $2 in price to $10.81.
MOBOX is a cryptocurrency project with a variety of uses, and it’s centered around online crypto gaming. Since it’s still on the smaller side, there’s hope among investors that the price will keep going up. However, it also has some issues to know about. If you’re interested in MOBOX, keep reading to learn more about it.

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Crypto gaming has gotten extremely popular in 2021, and that’s MOBOX’s main niche. It offers free-to-play games where players can earn crypto in the form of MOBOX tokens. There is currently one game available on MOBOX — MOMO: Token Master, and two more are on the way.
Non-fungible tokens (NFTs) are a big part of MOBOX. Its MOMO NFTs are game characters players can use, and they all have their own unique features. Players can purchase NFTs or unlock them at random using KEY tokens, which are earned by staking MOBOX or other cryptocurrencies.
While MOBOX has its own games and NFTs, it’s also planning to allow users to create their own on its platform. It’s working on a game creator and an NFT creator.
Since it’s free to play with MOBOX, you should visit its website and try its MOMO: Token Master game if you’re thinking about investing. You can get an idea of how it works and see whether you think it’s going to be a success.
Some users have complained that gameplay on MOBOX is too simple. While I’m not a crypto gaming enthusiast, I thought the same thing during my test run of MOBOX. It didn’t seem that entertaining, and I’m doubtful of how well it will do long term, especially when it has already established competition in Axie Infinity (AXS).
Another concept that has become much more popular this year is decentralized finance (DeFi), which is financial services without a middleman. One example is decentralized exchanges that facilitate trades using smart contracts and crypto funds contributed by users.
In MOBOX’s case, it offers decentralized trading between its MOBOX cryptocurrency and Binance Coin (BNB). It does this with a liquidity pool — a pool of MOBOX and Binance Coin contributed by users. Anyone who has both and is interested in staking crypto can loan their funds to MOBOX’s liquidity pool and earn rewards.
While this is a start, other decentralized exchanges offer far more liquidity pools and trading options.
We’ve talked about the MOBOX platform, but what about the MOBOX cryptocurrency? It’s the platform’s native utility token, so it’s used in several ways.
MOBOX is a governance token, meaning that it gives holders the right to submit and vote on proposals related to the project. In effect, everyone who owns MOBOX helps decide on its future.
The token is MOBOX’s in-game currency. It’s both a reward you can earn while playing and the way you make in-game purchases, such as buying characters.
You can also stake MOBOX in the platform’s liquidity pool to earn rewards, stake it for a chance to win mystery boxes with MOMO NFTs, and use it to bid on NFT auctions.
The Binance exchange regularly puts DeFi projects on its Binance Launchpool. For 30 days, its users can stake their crypto and earn rewards in the project.
On Aug. 19, 2021, Binance announced that MOBOX was the 22nd project chosen for the Binance Launchpool. Since Binance is one of the largest cryptocurrency exchanges, the results were immediate.
MOBOX’s value nearly tripled that day alone. And in a little over a week, the price had gone up by over 450%.
Most of the major exchanges haven’t listed MOBOX, so buying it can be a challenge. If you want to get your hands on this cryptocurrency, Gate.io is an exchange that offers MOBOX trading.
Although Binance also has MOBOX, that’s currently only the case for customers outside the United States. On Binance.US, the U.S. version of the exchange, MOBOX isn’t available.
There is another option if you have a Binance.US account. You could purchase Binance Coin, and then go to the MOBOX website. On the MOMO Farmer page, you can then exchange Binance Coin for MOBOX.
At the time of this writing, MOBOX has fallen over 20% from its all-time high. While it hasn’t had a drastic drop, the price has been trending downwards.
When a cryptocurrency shoots up in price and popularity, it’s tempting to believe that it will continue. But for many cryptocurrencies, the hard part is keeping the momentum going. The market is full of investors who bought in after a cryptocurrency peaked and are hoping that it will recapture that initial success.
MOBOX could certainly continue to do well if it attracts enough players. This recent dip may just be a temporary pullback on the way to bigger gains. Or, it may not catch on, and its brief August run could be its best moment.
Considering the competition MOBOX has and the lackluster game it offers, I’m leaning towards the latter scenario. Proceed with caution if you do decide to invest.
There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that's right for you, you'll need to decide what features that matter most to you.

To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2021. Check out the list here and get started on your crypto journey, today.
Lyle is a writer specializing in credit cards, travel rewards programs, and banking. His work has also appeared on MSN Money, USA Today, and Yahoo! Finance.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Many or all of the products here are from our partners. We may earn a commission from offers on this page. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.
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