Leading up to April 17th, Verge (XVG) had been gaining strong traction as their price rose over 200% in anticipation to what was rumored to be "the biggest partnership in cryptocurrency history." When the news was revealed that the partner was Luxembourgh based internet giant, MindGeek, owner of the world's largest and most visited adult entertainment sites, the price took a drastic dip in what could be characterized as the stereotypical 'buy the rumor sell the news' event. Though the selloff may have shook many short-term investors seeking instant profits, many long-term investors remain extremely confident in the future of the coin and for good reason.
Possibly the most beneficial aspect of the partnership was the global attention it brought to a coin with an already massive following. Immediately following the announcement, the Verge team made use of the momentum to add on additional partners, one of which being MoreFun, which allows users of the Chinese mobile app maker to use XVG for trades and in-app purchases. Shortly after, Tor Guard VPN and CoinPayments announced they were integrating Verge into their APIs and Plugins that allow businesses to accept payments in cryptocurrencies.
Others within the community have set their eyes on larger prospects, most notably of which being the music streaming giant, Spotify. While there haven't been any official updates on the status of this proposal, the Verge community has brought an idea on the Spotify suggestions website all the way to the top of the list in hopes of getting the two entities in talks with one another.
With new partnerships coming to fruition at a higher frequency for this currency, it seems likely that long-term investors will benefit as it is adopted into more real world use cases. The fundamentals are already in place for the project as described in a tweet from CNBC's Cryptotrader host Ran NeuNer:
I interviewed @justinvendetta from @vergecurrency, Learnt the following:— Ran NeuNer (@cryptomanran) April 29, 2018
1.The founder @justinvendetta , smart and humble.
2.Project truly Decentralized -no pre mine.
3.Huge uptake and easy integration
5.Strong Infrastructure and supporthttps://t.co/f8e0SyEPrO
Adding to the excitement, long-time partner of Verge, TokenPay, recently announced that their deal to purchase a German bank was expedited and would be closed within the next week. For those unfamiliar with TokenPay, the company plans to release debit cards loaded with their native cryptocurrency, TPAY, as well as Verge following the bank acquisition. This means that people will be able to make regular purchases with either of the two cryptocurrencies very soon, a vital step that could bring mass adoption of crypto that much closer to reality.
With the abundance of cryptocurrencies on the market, few can boast as much upside potential as Verge. Between their growing list of partners, major steps towards mass adoption and dedicated team and community, the future looks very promising for this project.