KEY FACTS

Current price: 0,015 $

Circulating supply: 205.577.285 MITX

Max supply: 550.000.000 MITX (after all token burns where conducted within the next 48 months, currently it is 750.000.000 MITX, however tokens which are going to be burned are not in circulation)

Market cap: $3.066.121

Exchanges: IDEX, HitBTC, FCoin, Liquid, Coinsuper (according to the CEO, few more exchanges to come)

Type: BPaaS

ICO: 0,10$ per MITX during the ICO

Main Features: Platform to bridge the adoption between enterprises and blockchain protocols, live product generating 6-digit revenue, great tokenomic design, DAppLibrary, Hanwha & Singapore government partnership

Summary: Blockchain-platform-as-a-service (BPaaS), which allows efficient prototyping and deployment of DApps, on various blockchains (interoperability). The idea is to provide enterprises with a solution to develop DApps significantly more time- and cost-efficient.

THE PROJECT

The Singapore-based Blockchain-as-a-platform-Service (BPaaS) Morpheus Labs (ML) was founded in 2017 with the aim to create an infrastructural solution for blockchain integration, hence providing a gateway to enterprises and allowing them to adopt DLT technology more easily.

As many enterprises have particular problems to solve, they start to discover blockchain as a potentially perfect solution to them. However, getting started with blockchain is not always that easy, as well as requires a lot of time and costs. Besides, with the tremendous amount of DLT technology variations that arose within the last few years, it is challenging to find out which one fits the best for each particular purpose.

ML addresses these problems with their unique BPaaS. Enterprises approaching ML, will be provided with a end-to-end full-stack service and solution. By offering them customization, active deployment and consultancy to their problems during the whole process, clients are able to save 70% of the time and costs compared to current solutions. Additionally, their platforms is build on various underlying blockchain protocols, which will be further expanded in the future. As a result, clients are not forced to select one particular DLT solution, but can work with multiple ones, especially once the team achieved their goal of interoperability end of 2019.

Additionally, 7 different programming languages allow for more flexible development and eventually to a greater ecosystem.

Developers and enterprises will also be able to offer their developed DApp on ML’s open marketplace called AppLibrary, which will eventually be for DApps what the AppStore or the Google PlayStore is for Apps.

Besides, having a first mover advantage with this approach, ML is not just based on speculation, but has an already live platform, with real clients and as a result, they were able to generate a 6-digit revenue yet since they went live on 25th January.

THE PARTNERS

ML was able to onboard some impressive partners already. Let’s start with their current blockchain protocol partners, which are integrated onto the platform:

  • Vechain (deep relationship, according to the team „collaboration on various verticals“ is coming)
  • Quarkchain
  • Nem
  • Neurochain
  • Nuls

Besides, ML was also able to partner with a significant number of non-blockchain parties:

  • Singapore government
  • Hanwha’s Dreamplus (startup incubator of one of the biggest conglomerates of South Korea)
  • Korea Medium & Small Industries Managers Association
  • Amazon Web Service
  • veriTAG
  • SmartMind
  • Argos Solution

In a recent interview with Brad Laurie, the CEO Pei-Han mentioned that there a several partnerships ongoing that are still under NDA. He gave hints on FORTUNE 200 companies, a big 4 accounting firm, as well as on more blockchain protocol partners.

THE TEAM

CEO & Founder: Chuang Pei-Han

Besides holding a professional certificate of the MIT, he graduated in 2003 at the University of Melbourne. Afterwards, he was working in the banking and investment sector for seven years, when he decided to start his own businesses. Due to his experience in building and growing start-ups, over the years he connected to many people which are now of great help when doing business development for ML today.

COO & Co-founder: Branson Lee

Similar to Pei-Han, Branson Lee also holds certificates from the MIT and Stanford. During his 13 years of working experience in the business development area, he was able to build himself a huge network in the Fintech industry. So today, besides being also the CEO of the Digital Asset Exchange ecxx.com, he is constantly giving talks about blockchain and made it to the TOP 100 Fintech influencers in South-East Asia.

CIO: Dorel Burcea

With over 20+ years of working experience in the IT and finance sector within companies like UniCredit, he has interdisciplinary mixed technical and business skills. As the CIO of ML he is setting the overall strategy for the ML platform and ensures its fast adoption.

CTO: Bruce Lu

Bruce Lu was working 20+ years in the software development for businesses and enterprises, ending up as a Senior Consultant & Architect for IBM, which he left for ML. As CTO he is mainly focusing on building and developing the platform from a technical perspective.

Besides, ML has 17 additional team members, consisting of developers, business developers, advisors and ambassadors.

TOKENOMICS

Tokenomics alone could be a “maker or breaker” for companies. If the tokenomics are not thought-through properly, it might end up in a token without actual use, hence no demand and value. Personally, I believe good tokenomics are defined by proper utility within the projects ecosystem (the more the better), is easily accessible for actual adopters of the ecosystem & token holders are incentivized by holding it. All this points eventually lead to organic demand for the token. Additionally, if the tokenomics are designed properly, scarcity is created and increases the token’s value.

Actual utility of the token

$MITx serves various different utilities within the ecosystem:

  • All users of the platform will pay a subscription fee, either paid directly in MITx or it will be exchanged to MITx if paid with FIAT. As long as users are subscribed, MITx will be locked.
  • AppLibrary: Morpheus Labs will have an open marketplace for DApps where enterprise, startups and individual developers can develop and publish applications. Application publisher will be required to hold MITx, as well as users will be incentivized to do so.
  • Blockchain Protocol Partners being part of Morpheus Labs will be required to pay a listing fee, payable in MITx only, as well as MITx gonna serve as “gas payments” for the underlying protocols.
  • Community nodes: Avid supporters of Morpheus Labs, as developers, marketing experts or community managers can stake MITx while supporting MITx, becoming eligible for rewards based on their performance.
  • Product council: community members comprising of developers and non-developers, tasked with assisting and engaging with the Morpheus Labs development team as new updates are released. While being member of the group, MITx need to be held.
  • Proof of Alliance: quite simplified, but staking in general. All various users have advantages, the more and longer they hold MITx

All utilities above lead to increase demand, incentives to hold MITx and eventually create scarcity for MITx. Obviously the more customers Morpheus Labs onboard on their platform, the higher the token value should get due to this.

Ease-of-use for adopters

Morpheus Labs worked out an exciting system in order to avoid exposure to enterprises to buying MITx tokens on exchanges like IDEX or HitBTC: Treasury Partners.

Treasury Partners can be liquidity providers, brokerage firms, OTC desks or substantial investors in MITx tokens that buy directly off the market and provide MITx tokens for Morpheus Labs’ customers.

Tokenomics explained in detail can be found here:

https://medium.com/@morpheuslabs_io/mitx-token-economics-38b17d870ab9

OUTLOOK

In order to provide an outlook of where ML is going, I would like to cite the answer in the recent AMA on the question where they see themselves in 6 months, 1 year and 5 years:

As mentioned in most of the AMA interviews; we have launched the blockchain platform in January 2019 and aim to be the world’s leading blockchain agnostic platform and app marketplace.

In the past few months and over the next 6 months, we are and have been talking to many blockchain protocols, finalizing the details for our partnerships. We are finalizing some of the distributorships in the other regions, while working on the revenue generating projects from the leads acquired so far. We are also developing our blockchain education programme and working with institutions on the curriculum partnership.

At the same time, we are expanding internally while improving the platform UX/UI experience with more partner-centric features in order to gain more adoption. For the next year, we are working to be the “go-to” blockchain platform, stabilizing our footprint within the space. We are also planning to expand to other regions.

Our 5 year plan is to emerge as the leading blockchain agnostic platform, education provider, and “go-to” platform in terms blockchain technology.

As for the MITX token, we are constantly evaluating the market needs and reviewing our business growth. This growth will be reflected in the demand for our token, while a good structure for tokenomics will facilitate token velocity and health.

CONCLUSION

Personally I believe, ML creates a great bridge between blockchain protocols and enterprises & developers. As a result, adoption becomes easier, cheaper and more efficient. The fact that ML is not just a whitepaper project anymore, but has its platform up and running, while generating a revenue in the 6-digits and being down over 85% from ICO price is definitely a big buying signal for me. Obviously, the success is directly correlated to the customers they will be able to onboard on their platform. But their already existing partners and the great tokenomics, providing the MITx token with several utilities, make me confident to believe they could reach at least the CMC’s TOP 100 in 2019, while currently sitting at rank 601.

Content Creator: Shilliano Coinaldo