The Waves-hosted token has collected $20 million and counting.
It has been a spectacular spring for Waves, with a series of crowdsales attracting more than $25 million in investment. EncryptoTel exceeded expectations, with surprise last-minute investment pushing it well over its intended $3 million cap to a total of $4.5 million. Then there’s ZrCoin, which launched last Thursday and which is closing in on the $2 million mark.
But pride of place goes to MobileGo, which is hovering around $20 million in investment — more than Waves’ $16 million, more than even Ethereum’s $18 million. And it still has over a week to run, with rumours of big developments in the works. There’s been a pattern of large eleventh-hour investment with previous crowdsales, and it’s likely that exactly the same will be true for MobileGo.
For those who don’t know, MobileGo is an initiative that aims to bring crypto to the gaming world, driving mass adoption by using GameCredits (GAME) as the de facto currency for financial transfers into, out of and between game economies — something that the legacy banking system makes extremely inefficient. MobileGo will act as a marketing fund for GAME, with some of the proceeds from these activities going back to MGO holders. (It’s no coincidence that GAME has seen all-time highs in recent days; with a $20 million warchest behind it, it just got fitted with a rocket booster.) The token will exist on both the Ethereum and Waves blockchains, moving between them using BlockSwap, though given the simplicity of the Waves wallet and the built-in DEX, it’s likely that a large proportion will stay on Waves.
What’s interesting about the MobileGo crowdsale is that very little of the investment has been in WAVES. Most has been in bitcoin (over 6,000 BTC, more than $10 million) and GAME (3.8 million, or $6 million). That means Waves is being used exactly as intended: as a platform, not simply as another currency. There are many forms of money in the blockchain and fiat world, and there’s no constraint to invest using WAVES or to trade tokens using WAVES as the reference currency. That flexibility isn’t just useful: it’s vital.
We’re very impressed at what MobileGo are doing, about the professionalism of the team and the prospects for both MobileGo and GAME. Waves is ‘blockchain for the people’, a crypto mass-adoption platform. MobileGo have leveraged their community and collected $20 million without any VC involvement. It’s a perfect fit, and a benchmark for what we can expect from crypto in the months and years to come.
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