Launched in 2021, MOBOX is described as a community-driven and developer-friendly platform that turned the free-to-play, play-to-earn concept into a reality. Upon its inception, the platform minted a whopping 30,000 NFTs which can be used in their ecosystem. Users of MOBOX can claim their rewards in the form of $MBOX tokens, the in-app utility token of the MOBOX ecosystem. We’re not here to just talk about MOBOX. In fact, the main focus here will be on the MOBOX NFT Farmer.
Continue to read below to learn how to get started with MOBOX NFT Farmer, how to earn and much more.
What is MOBOX NFT Farmer?
MOBOX NFT Farmer is an NFT based platform built on Binance Smart Chain. True to the nature of play-to-earn games, players of MOBOX games can enjoy the platform free of charge and get rewards in $MBOX tokens (more on the tokenomics below). For the past year, MOBOX NFT Farmer has been trending as one of the top blockchain-based games in the world. MOBOX NFT Farmer is a game that focuses on ‘farming NFTs’. The game is all about providing liquidity in the pools and as a reward you receive unique NFT(s).
What’s unique about this application is that it follows a rather interesting infrastructure, which is not purely game-based, nor financial. It is however a combination of all three – Gaming, DeFi (decentralized financing) and NFTs. MOBOX has its own growing DeFI ecosystem, which combines unique NFTs. Dissimilar to other crypto-based games, MOBOX NFT Farmer also offers Liquidity Pools and Yield Farming just to get the full DeFi experience.
As a beginner to MOBOX, we will walk you through all the steps required to get going with MOBOX NFT Farmer and put you on the path of earning returns.
Before Starting with MOBOX NFT Farmer –
It is perhaps good to know that MOBOX Farmer is available both on the desktop and mobile. To enter MOBOX from your PC, you simply need to visit the main website of MOBOX Games and click on MOBOX Farmer. If you are trying to access MOBOX via your mobile phone, you’ll have to download the app and on the ‘Games’ label click MOMO Farmer.
Game Mechanics – How Does it Work?
Before breaking down the game mechanics for you below, it is crucial to cover some of the definitions to explain the process better. Let’s start with Yield Farming. In Decentralized Financing (DeFi), Yield Farming refers to the process of depositing or lending designated token assets as required through DeFi products – Using a mining mechanism to provide liquidity for the swap fund pool and obtain income. The second term to get familiar with is LP Token. LP is most similar to a pledge certificate – where the user puts the asset into the fund pool and adds liquidity to the pool, the fund pool will return a certificate to the user.
You can compare that to any traditional financial instrument, such as depositing cash in a savings account. When a user deposits money in the bank, it increases the bank’s liquidity (cash at hand), for which the bank can return a deposit certificate, making you eligible for interest payments. In order to get LP, users need to deposit two designated digital assets – MBOX and BNB – in the liquidity pool of the Pancake platform to obtain LP.
The first step to get going with MOBOX is to deposit assets into the MOBOX Pancake Liquidity Pool. In return, you will receive a Pancake LP token which you can then deposit into MOBOX Crates. Following this process, the Crates will re-invest Cake rewards into the protocol, so that users receive more of the base LP. Crate contracts are smart contracts that automatically customize the most profitable yield farming strategy for all BSC users. LP tokens come from liquidity, so make sure you have enough BNB and MBOX tokens in your wallet.
MOBOX NFT Ecosystem (NFT Mining Camp)
MOMO is the NFT asset of the MOBOX platform which is the fuel powering this entire ecosystem. You can obtain MOMO by opening a mystery box or simply purchasing it via the NFT marketplace. The main application of MOMO is for more MOMO mining and playing games. Please note that rented MOMO cannot be used for the Mining Camp. Once you purchase or obtain MOMOs, the system will automatically stake them to start mining MBOX and generate income for you on a daily basis.
Earning an Income
The income you earn in MOBOX depends on the weighted average of your total hash power on the platform. The more your hash power increases, the more your income will increase. What’s hash power you may ask? In simpler terms, hashing power refers to the power that your computer or hardware uses to run and solve different hashing algorithms – this is what mining is in the crypto world. In the mining camp of MOBOX, you can browse through the hash power you own vs the total hash power of the platform. This will give you an idea of the daily income you could generate. Each group of MOMO NFT with four qualities of common, uncommon, unique and rare can obtain an additional 300 fixed bonus hash.
In order to obtain MOMO directly from the NFT marketplace, visit MOMO farmer and click on the market and select the MOMO you wish to obtain.
As discussed above, there are plenty of ways through which you can earn money with MOBOX NFT Farmer. It is certainly worth exploring it as the world of traditional finance seems to transition into the crypto world. What’s interesting about MOBOX is that its open system allows users to use the same NFTs across multiple platforms and games which opens up the opportunity for many other play-to-earn games.