MGS, the world’s largest platform for online game virtual commodity traders, is creating a blockchain protocol called the Worldwide Asset eXchange (MGS). It can be used for an unlimited number of trading platforms controlled by individuals or small business owners to buy, sell and trade virtual goods with just a few clicks.
The MGS platform offers the opportunity to trade virtual goods using global tokens while de-neutralising transactions as a virtual property trading platform. Combined with a distributed trust mechanism and a reliable and preferential settlement network, this repository can significantly improve price transparency and market liquidity, thereby expanding demand. the MGS platform can support a variety of selling functions such as bidding, reserve bidding or fixed prices. This facilitates maximum liquidity. buyers and sellers currently served by MGS will not need to develop complex back-end systems, but will instead implement this functionality through the MGS platform to make the most of the most effective features of the MGS Virtual Property Exchange.
MGS tokens will foster a new generation of virtual property traders. This event is similar to the way large platforms (Alibaba, Amazon, Uber, Airbnb, etc.) have allowed ordinary entrepreneurs to become powerful e-merchants, helping car owners to find passengers on their way via the internet, hotels to publish their information or travellers to find accommodation services electronically. These platforms have become easier to use and have a wider reach, expanding business for millions of small business owners and creating tens of billions of dollars of new value. At the same time, they have solved challenges such as fraud prevention, billing, product and seller reviews, standardisation of product information catalogues, matching supply and demand, and other challenges that require significant investment.
MGS is a decentralised platform that allows any user to trade on its fully functional virtual trading platform without investing any money into security, infrastructure or settlement processing. MGS is the world’s leading online game virtual goods trading platform, designed by the founders of MGS to serve the more than 400 million players worldwide who collect and buy and sell virtual goods. Using the simple MGS trading widget, players can access a global marketplace where all transactions are verified through the blockchain trust mechanism.
The user decides to purchase a virtual item and clicks the “Buy Now” button in the MGS platform widget. A verification window will appear. When using the MGS platform for the first time, users will need to register and create their own MGS account and wallet. This allows them to pay for selected items quickly and without having to go through the details of how the MGS platform or MGS tokens work. For the user, everything is simple. Without leaving the trading platform, he can select an item, pay for it and quickly find it in his list of possessions.
The MGS platform allows tens of millions of traders to build their own virtual shops on the same decentralised platform that will integrate all parties providing security, transaction procedures and settlement services, and lead hundreds of millions of new users into a growing ecosystem. The very high level of liquidity will allow buyers and sellers to buy and sell goods at the best prices and settle them instantly, while the global community of gamers as a whole will have access to a secure exchange for virtual goods based on blockchain technology.
MGS is launching an MGS blockchain protocol that will integrate the world’s 2 billion gamers into the same state-of-the-art virtual goods exchange. The existing market for online game virtual goods trading has reached a staggering $50 billion and could be significantly increased through the de-neutralisation of trading.
The Global Virtual Property Exchange (MGS) is a global P2P web-based marketplace for trading virtual goods in games, based on decentralised smart contracts in the blockchain. The platform runs on decentralised smart contracts in the blockchain. the MGS platform allows buyers and sellers around the world to buy and sell virtual goods on a decentralised, international platform. The MGS platform uses smart contracts that combine over 20 years of experience working with the MGS team and tens of billions of virtual commodity transactions. trade, share fees and settle. What are the drawbacks of the existing decentralised exchange ecosystem? They do not support the specific needs of the online game property trading market. Below is a comparison of some of the better known products.
The MGS protocol is a decentralised blockchain solution for buying, selling and delivering virtual goods and services. The main mission of the protocol is to serve the rapidly growing gaming industry and remain flexible enough to accommodate a variety of other use cases.
The MGS will meet the needs of users using multiple gaming platforms, each with its own virtual goods exchange model and delivery conditions. The MGS will support all of these gaming platforms, building a unified network. For the proof of stake mechanism (DOPS), the MGS platform uses a consistency algorithm that utilises elected confirmation nodes (“guilds”). This algorithm was deliberately chosen to address issues related to the large demand generated by the gaming platform market.
Recommended News
-
Jaringan utama koin SYW telah diluncurkan dan merealisasikan sirkulasi global
Recently, something great happened within blockchain network. SYW coin completed the deployment on the ETH public chain and successfully launched the mainnet. This means that SYW has successfully realized global circulation and can be transferred in any blockchain networks. From now on, global investors can freely purchase or sell SYW coins. As a blockchain 2.0 application network, ETH’s related ecology has attracted the attention of many blockchain users and cryptocurrency owners. Ethereum holds the vast majority ofr DeFi protocols and stable coins. Due to its characteristics of having stable…
-
Crypto Is Banned in Morocco, but Bitcoin Purchases Are Soaring
Cryptocurrencies are banned in Morocco, but peer-to-peer bitcoin (BTC, -5.01%) trading platform LocalBitcoins is reporting all-time trading highs this year. February 2021 was the platform’s “best month ever” in Morocco in terms of trading volumes, according to LocalBitcoins Chief Marketing Officer Jukka Blomberg, who said approximately $900,000 worth of bitcoin was traded on the platform through the month. LocalBitcoins also saw a 30% increase in user registrations between 2019 and 2020, with over 700 new accounts created, Blomberg said. Bitcoin purchases are rising despite a ban on cryptocurrencies in the North African country. In November…
-
Digital Currency Group to Buy Up to $250M of Grayscale Bitcoin Trust Shares
Digital Currency Group, the parent of Grayscale, said it’s authorized the purchase of up to $250 million worth of the lagging shares of the Grayscale Bitcoin Trust (OTCQX: GBTC), its subsidiary’s flagship product. In an announcement Wednesday, DCG – which is also the parent company of CoinDesk – said it will be buying GBTC shares on the open market. The purchase comes as the price of GBTC shares has fallen from an all-time high of $58.22 set last month to $41.40 last week before rebounding somewhat. In addition, the shares, which had…
-
Elon Musk’s Bitcoin Marketing Coup
Here’s some free advice for the Honda Motor Company: Market your cars to the newly bitcoin rich. I’ve already got the ad copy for you. A true bitcoiner is building for the future and deferring gratification. She doesn’t blow her hard-earned savings on flashy toys. She prefers a solid, dependable family car. And a slogan…. Lambos are for losers. HODLers drive Hondas. Marc Hochstein, CoinDesk’s executive editor, owns some bitcoin, and if he were smarter he’d have bought more years ago. This article is excerpted from The Node, CoinDesk’s daily roundup of the…
-
Market Wrap: Traders Ratchet Up Derivatives Bets as Bitcoin Mounts Rally
Bitcoin (BTC) trading around $58,800 as of 20:17 UTC (4:17 p.m. ET). Climbing 2.1% over the previous 24 hours. Bitcoin’s 24-hour range: $57,069-$59,380 (CoinDesk 20) Bitcoin has climbed on four of the past five days, and the price is now pushing back toward $60,000 for the first time in a couple weeks. “It wasn’t with the fanfare and fireworks, but instead just a standard grind higher, helped in part by the continued positive adoption news flow,” Matt Blom, head of sales and trading with the digital-asset firm Equos, wrote Tuesday in…
-
KHC — a new generation of high performance private financial public chain has officially launched
With the appearance of blockchain technology, services in the financial industry have made great progress. The blockchain brings extra vim to the cryptocurrency industry, and the emergence of DeFi on the blockchain has empowered more projects in the industry. From 2019 to 2020, the DeFi market has developed rapidly from nothing. Only one year later, the total lock-up volume of DeFi in 2020-2021 has approached $100 billion, rising more than 240 times. The popularity and drawbacks of DeFi DeFi is so popular which has become one of the hottest topics in the crypto…
-
Bringing ‘Play’ back into the play-to-earn space — Ankots of Misteria
A brand new NFT monster-battler that is looking to change the way games are played in Web3. May 27, 2022 — The rise and widespread adoption of blockchain technology has led to some of the most barrier-breaking advancements in recent years. One of the standout examples of this came with the introduction of the Play-to-Earn gaming space which completely transformed the gaming industry for good, or so it was thought—until it was not. The tokenized economic model that was the promise of play-to-earn games worked extremely well in theory; players…
-
Coinbetter: Keep an eye on investment institutions
In 2021, the growth momentum of DeFi maintained, and the value of locked positions will continue to reach new highs. New trends such as GameFi, Metaverse, and NFT will continue to become popular, and many brands, companies and investment institutions will enter the market one after another. After the downturn in 2020, the blockchain industry investment and financing market finally rebounded in 2021. The number of investment and financing in the first half of the year alone has exceeded that of the whole of 2020. Today, these investment institutions already…
-
Caitlin Long’s Avanti Raises $37M Ahead of Crypto Bank Launch
Crypto bank Avanti raised $37 million from Series A investors as it prepares to take its digital banking operations online. In a press release, parent company Avanti Financial Group said Coinbase Ventures, Binance.US, Morgan Creek Digital, Slow Ventures and the University of Wyoming Foundation, among others, participated in the funding round. Avanti has raised $44 million total, the group said. Avanti said it will put the funds toward meeting regulatory capital requirements and further invest in its engineering team. It gained special-purpose depository institution (SPDI) status in October, joining fellow Wyoming-based crypto…
-
In order to build the Mobius ring planet, Baidu Xirang will soon issue XR, the token of Xirang.
The direction of Baidu Xirang’s efforts is to become a metaverse engine, providing AI and cloud computing capabilities for Xirang and other metaverse products, and the token XR (1 billion pieces) will be issued soon. Metaverse’s real-time high-brush immersive experience screen effects and multi-person interactions in the same space require massive computing power, algorithm support, and a lot of R&D investment. Therefore, technical strength will become a key part of future Metaverse competition. Baidu has maintained high-intensity R&D investment for a long time. XR will become the only token in…
