A long story about MOBOX (that can definitely be longer).
Mobox was launched as a project to create a gaming platform that will offer a good variety of games that will all make use of the platform's various NFT's and the platform's token #MBOX in Q2 of 2021 . Initial amounts of the token were given for free through a staking process using the developer's previous project tokens.
In August of same year it was announced as Binance's 22nd Launchpool project which brought enormous visibility and value to the project pushing the token to a price of 10$ during the farming month. In November a strategic investment by Binance Labs was announced and the introduction of a Mobox Mini-App integrated inside Binance App Marketplace to give Binance users a direct gateway into the gaming interface. Those two actions pushed the #MBOX token to its All Time High of 15.68$ . Two days later the advertised Mini App was removed from Binance Marketplace and everybody was left in question. The questions were vaguely answered during an AMA organised by Mobox team as the reason being that an unexpectedly great number of people joined it and the infrastructure was not ready to carry the burden. Ever since then , which means two years later , when Mobox team is asked about the status of this project , the answer given is "SUSPENDED" , not cancelled or under construction. At that point a slow decline of the token price began.
On 22nd February of 2022 Binance Airdropped Mobox's new NFT called "Momoverse Avatar" to everyone who had participated in the previously mentioned Mini App. Afterwards users were able to trade those Avatars in Binance NFT marketplace generating transaction fee income for both Binance and Mobox team. On 5th of April 2022 withdrawal of Avatars to decentralised wallets began functional but only to be suspended as well 20 days later. Notice that only withdrawal was suspended , transactions could still happen but prices crashed as now they would be nothing more than a profile picture on Binance. On 31st May 2022 Mobox team and Binance announced the "Avatar burn event" , a chance for users that had their avatars locked in Binance NFT area to destroy them and spin a wheel to earn prizes varying from 2 #MBOX tokens (minimum) up to 1 #BNB (maximum) . Obviously the chances to win anything other than 2 MBOX were never announced.
Leaving this Avatar distribution and imprisonment that left hundreds of users crying over their lost investment , while MBOX token kept losing value , MOBOX team had only one thing to say . We keep building. And they claimed they were focused solely on delivering their Metaverse called Momoverse. At first after its delivery it showed great potential , a world were many mini games can be added while a many more options were announced (Guild wars , Momo lands etc.) . Truth is that near the end of the 2023 and Momoverse is still the same as its latest Alpha test. No development while rewards for players have been nerfed plenty of times.
Mobox tokenomics in the Whitepaper have a strict plan for the platform's token. Mobox team managed to go around this by issuing MEC , an infinite supply NFT that can be minted out of thin air. They removed MBOX token from game rewards and made MEC usecase a necessity for Momo NFT holders and Momoverse players. On top of that they introduced Investment decay on their top two games (Moland Defence and Clash of Molands). Even their own rule that players were following , stating their investment level can only go up , was removed from game's description. These adjustments followed Mobox platform's routine of cutting down on rewards given to players/investors in any possible way (Liquidity pool / mining camp). Again Mobox was claiming they keep building.
During this time though they failed to deliver half of their initial Roadmap , introducing a totally new one. With this new Roadmap came another Momoverse-like game , but this time with Dragons. A small amount of eggs was distributed for free to eligible players. 5 months later there is still no game , only "Events" with leaderboards of players earning newly printed MBOX tokens while paying ETH / ARB / USDT to participate in this event. This is ofcourse an indirect way of devs selling their own token no matter how it will be presented. This money goes to various "Pools" that are supposed to be used for the further development of the platform.
There was a similar pool containing 7 million $ used to buyback and burn the token, as described in Whitepaper. Suddenly in October 2023 devs decided to close this pool and remove the money to be used for better ways , no details attached. For a "community-owned" platform as self-proclaimed, there has been no DAO for more than 2 years and community has never been heard. Additionally for the past year every critic voice of long time followers is being silenced with mutes and bans in platform's social channels. All this while the new Roadmap is already failing to be delivered (Q3 objectives were not met) and MOBOX team announced a new partnership and investment with P-12.
Rumour has it, that all the silencing is being done to avoid potential new investors being able to learn Mobox team failures and misconducts of the past that have led the token to its 0.20 all time low recorded on 19th October 2023.
Thank you for reading , feel free to comment and ask for details , follow and tip.
