Chinese Gaming Company To Use Verge As In-game Currency
Verge (XVG), which has been the center of debates for the past one month, announced Tuesday that adult entertainment giant Mindgeek, which owns Pornhub and Brazzers, will start accepting Verge as payment for subscriptions. A majority of cryptocurrency traders did not find the deal too exciting.
Eventually, the cryptocoin was dumped in the market. In the past two days, Verge had lost more than 30% to trade at $0.07. However, XVGWhale, a big Verge investor, who acts more or less the PR of the company, has tweeted yesterday that Morefun, a Chinese gaming company, is interested in partnering with Verge to create an in-game XVG wallet.
Under the partnership, Verge will be the in-game currency for all their iPhone and Android games. Verge also officially released a video in this regard. It should be noted that this gaming company is no way related to the mighty Tencent of China. This may lead to another controversy as Verge tries to project the deal with this relatively unknown company as a big breakthrough.
GREAT NEWS! AFTER MEETING AT #MOREFUN HEADQUARERS, ICO CANCELED!
ANNOUCMENT VIDEO COMING SOON! Sunerok, text me, ty. pic.twitter.com/MbQoAkF36R
— XVGWhale (@XVGWhaleReal) April 19, 2018
Before disclosing its partnership with Mindgeek, Verge raised 75 million XVG through crowdfunding. Things turned ugly, when Verge moved 18 million XVG to Binance. Many crypto traders raised a red flag and called it an exit scam. The partnership with Pornhub is unlikely to lead the mass adoption of Verge, but certainly opened the doors for likely adoption by similar websites in the future.
Verge has also turned bullish due to an unconfirmed news that Binance is going to add XVGUSD and XRPUSD (Ripple/USD) pair soon. Both Ripple and Verge had failed to get listed in Coinbase, which has millions of US clients. If Binance goes ahead and lists USD based crypto pairs, then it would tremendously increase the trading volume in Binance. So, introducing XVGUSD and XRPUSD pair is a win-win situation for both the cryptocurrencies and Binance exchange.
At a price of $0.076, XVG has a market capitalization of $1.06 billion. The cryptocurrency has gained about 160% in the past one month.