Throughout the last few weeks, publishers and game developers who take advantage of the Xsolla platform have started to rely on MobileGo (MGO) tokens to withdraw their earnings.
It’s noteworthy that the platform supports different types of assets and payment systems. Recently, MGO had gained popularity amongst game developers and publishers using Xsolla.
MGO and Xsolla – What You Need to Know
Before we explore why MGO is rising in usage, it’s important to know what Xsolla is. The last was created more than ten years ago. Xsolla was intended to be a platform which allows players to acquire in-game items while using fiat currency.
Xsolla has managed to become a household name in the gaming industry, as it currently has about $100 million per month in turnover, accommodates half a billion users across 200 countries, granting them access to 500 games and more than 100 different currencies, including MGO. The platform supports over 700 payment systems, and it can process over 40 million transactions yearly.
In other words, this is an encompassing platform in the gaming industry which provides developers and publishers with publishing, game distribution, payment, and marketing tools.
It’s worth noting that the platform supports not only MGO but over 100 other currencies. However, withdrawals from the platform are made just in fiat or in MGO. The latter is becoming increasingly popular in this regard.
Meet the MGO addicted users
Nowadays, there are over a dozen different known leading gaming teams which are converting and cashing out their profits using MGO through the Xsolla platform.
The average daily volume of MGO tokens being transferred is about a quarter million USD, out of Xsolla’s turnover of around $100 million per month.
The Advantages of Cryptocurrencies
When it comes to cashing out their profits when using fiat currencies, game developers need to wait quite sometime before they can get funds they have earned. It’s not uncommon for this process to be dragged on for weeks and even months.
Additionally, there are more considerations to be accounted for: These include salaries, contractors, and equipment which must be paid. When you add the commissions and transaction fees that accompany these fiat-based operations and keep in mind the long waiting time, it’s no wonder game developers are walking away with less than what they earned, let alone deserved for their effort.
Using cryptocurrencies, on the other hand, is substantially quicker, more secure, simpler, and cost-efficient. The withdrawal process is fast, and it takes no more than a few clicks to complete the transaction. Additionally, developers can count on receiving their funds in less than an hour. There are also no hefty fees and high commissions.
Furthermore, once the cryptocurrencies, in particular, MGO tokens, are withdrawn, the users are in complete control over their assets. They can convert them into other cryptocurrencies, or they can swap them for fiat.
About MGO – What You Need to Know
MobileGo (MGO) tokens are used to incentivize gamers through loyalty programs and participation rewards, while also enabling payments to developers and publishers to be made with MGO.
The team behind the project intends to turn MGO into a globally-used token through geographical expansion and strategic partnerships such as the one with the Xsolla platform.
The partnership with Xsolla is amongst the most important for MGO because it opened the MGO token to more than 500 games and millions of players throughout the entire world. Most importantly, publishers and game developers are only allowed to use MGO as a cryptocurrency alternative to fiat withdrawals.