MobileGo Raises Over $26M in ICO
Dual blockchain token MobileGo has raised over $26 million in its initial coin offering (ICO). The company’s crowdsale is one of the most successful ICOs ever, second only to the DAO, and the fourth-most successful crowdfunding project in the world.
MobileGo, a dual blockchain cryptocurrency using Waves and ethereum, is aiming to bring smart contract technologies to the world of mobile gaming. These technologies include a virtual item exchange, player-run wager tournaments, and player to player wager matchplay. They will exist on the GameCredits mobile store, a demo of which was released last month.
MobileGo and GameCredits share a symbiotic relationship. GAME is the single coin used for in-game purchases, while MobileGo offers more ways for gamers to interact with their favorite games. Both coins are used for unique purposes and together will maximize user experience and interactivity on the mobile store.
The MobileGo ICO, which was launched on April 25, raised $4.5 million within four hours of its launch, tallying to date over $26 million (6,800 BTC). The crowdsale will end on May 25.
The funds raised will help Gamecredit’s mobile store marketing and branding efforts and it will also gamify the platform through the use of ethereum-based smart contracts, allowing users to compete among themselves in a decentralized manner and to earn rewards and reputation while doing so.
The company said the main aspect of these tokens are not their technical characteristics, per se, but rather the functions they serve within the platform.
“The MobileGO token will be used to provide many important features to the Gamecredits store based on smart contracts,” said GameCredits CEO Ivica Simatovic. “In this store, there will be two tokens: one for processing Gamecredits, and another for tournaments, betting, and the virtual market place MGO.”
MobileGo said they will also reward customers with discounts, free entrance to VIP tournaments, and access to private game beta stages.
