Metal Backed Money (MBMX) X Coinstore AMA Recap 💬
Welcome Back Coin Collectors,
Recently, Coinstore listed Metal Backed Money (MBMX), and to help our community and MBMX’s community to learn more about MBMX, we held an AMA together with MBMX on Coinstore’s official telegram group. During the AMA, we did an introduction on MBMX in the Coinstore community, together with Kent, the founder of MBMX, as the guest speaker and the AMA was hosted by Nicole from Coinstore!
Today, we are back with another AMA recap with MBMX. There was great engagement with the community, with a total of 622 questions fielded from 619 interested users.
Now moving on to the exciting part! Here is how the AMA went! To start off this AMA, Kent introduced himself and MBMX to the Coinstore community.
Kent’s Introduction of Himself & MBMX:
I am Kent, the founder of Metal Backed Money (@MetbackedMoney). This project was started on the 5th of August in 2021, fast forward 7 months later and we are listed on Uniswap, Coinsbit, BitMart as well as Coinstore.
MBMX is a decentralized digital asset that’s currently backed by 8 billion dollars of physical Gold and Platinum, with plans to add on another 30 billion worth of gold bars in Barclays and Zenith bank later this year.
MBMX has also started its own NFT program, MBMX Universe, as well as a DeFi Protocol, MBMX Universe Defi Protocol Program which guarantees a 35% annual return.
Currently MBMX is trading at 750 to 850 USDC per MBMX, to learn more about MBMX, head over to our website for more information.
AMA 1st segment, where the AMA host — Coinstore Nicole— will be asking Kent some questions that we’ve gathered from our social media!
1. Please explain the project details and future plans in your own words. (Asked By: Raaaj108)
We are here to provide you with a savings account so that you will be able to build financial wealth safely and with certainty while helping millions of people to shape their financial future.
2. What motivated you to create MBMX? (Asked By: jaelyynnnn)
MBMX was initially conceptualized 5 years ago with the motivation to create and grow a community to help miners to become successful business men.
3. The price of $MBMX is always dependent on the price of the metal. Does the team have a way to make the $MBMX price different from the market metal price? (Asked By: nguyenhilinh)
MBMX is around 750 to 850 USDC per MBMX at the moment but we have plans to add 30 billion dollars worth of gold bars so I guess in the summer or fall MBMX will go up to maybe 3800 USDC per MBMX.
4. I find it difficult for users to get approach to MBMX. Why doesn’t the team do more marketing about your project? (Asked By: namhoangw)
If you head over to our website, you can read about the movie company that we are partnering with to produce the world series of crypto and sporting bets. We predict that we will have 1.5 billion viewers for 30 episodes that will start in October 2022, lasting for 3 years in Las Vegas. I am sure we will become a household name.
5. Why did the team decide the token price according to the price of the metal and not something else? (Asked By: thanhnguyenn77)
This is because we wanted to make a coin where the price was steady, as compared to Bitcoin and Ethereum where the prices are very volatile. MBMX aims to provide people with a savings account so that those with a fixed income can buy MBMX and feel safe and secure.
6. MBMX gives a % to charity, which non-profit organization and why? (Asked By: joyseah)
MBMX works with my wife’s non profit organization, Money Without Borders, to extend a helping hand, ensuring miners in our ecosystem have good working conditions as well as to end child labor in mines worldwide. MBMX wants to give back to those who are less fortunate to pay back a part of our success as well as to support my wife, Afifi Alaouie’s work. Next, in light of the humanitarian crisis happening in Ukraine, we will be bringing 6 containers to Ukraine to help the kids in this week.
7. Is there any plan to develop cross chain compatibility for MBMX token in the future? (Asked By: ash478)
We are working on polygon and other bridges currently, but most importantly, we are waiting for Ethereum 2.0 where gas fees in the future will be very small. Even now when you send litecoin to Coinstore to change that to USDC and buy MBMX, gas fees are fairly cheap.
8. Is the price of MXMB heavily influenced by the crypto market? (Asked By: vinhvinhta)
Not at all, MBMX is only paired with USDC.
9. How can the team secure my assets for the next 10 years? (Asked By: cavangcon1)
You just have to put MBMX in a secure wallet and the price will definitely rise, it could be 100k USDC or even 250k USDC in 10 years. Look at the number 1 coin in the world, Bitcoin, which already has inflation.
Congrats to the above winners who won 50 USDC each! Thank you Metalbacked.Money!
AMA Segment 2, LIVE Q&A from the Coinstore community on questions they have for MBMX:
1. Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term? (Asked By: Altheahollingsworth2003)
You get 35% PeakDeFi wallet and if you hold it for 2 to 3 years you will be well off. I think this project here will prove that getting it now will be a great investment for your future.
2. Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us? (Asked By: Phương Nguyễn)
Head over to our website full of videos that explain why and how this works to you.
3. Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product? (Asked By: DayanaDevani)
MBMX is a project that will listen to the needs of unfortunate people around the world, it’s our duty to serve and protect our #PeoplesMoney.
4. Why you think MBMX can achieve massive adoption? (Asked By: …..Crypto…..)
Our TV show on the Hollywood platform will make us a household name.
5. Adoption is one of the most important factor that all sustainable blockchain projects should focus to be more attractive in the invertors eyes. Can you tell me what #MBMX has done and plan to do to achieve adoption in the reality, real use cases, our real society? (Asked By: PewPew 11)
In just 7 months, we have about 435 Million USD invested in PeakDeFi as well as 2 Million MBMX in circulation so we are doing just fine.
Congratulations to the 5 winners, who will each walk away with $50 of $MBMX! Wow!
AMA Segment 3, where Coinstore Community Manager Jubayed will be hosting the quiz segment:
- Which blockchain is MBMX on?
a. Eth (Correct Answer)
2. By investing in MBMX — PeakDeFi Program you will receive an annual return of?
d. 35% (Correct Answer)
3. The MBMX Metal Backed Money Stop-Loss Protocol is an algorithm that
a. Prevents the value of MBMX from falling below the price of Gold and Platinum on the market (Correct Answer)
b. Will magically prevent stop loss
c. Is tied to the SMP Index
d. Is designed by Nikolai Tesla
4. Which Non-Profit organization can you support by buying MBMX via Metamask Wallet?
a. Doctors without Borders
b. Justice Without Borders
c. Bankers Without Borders
d. Money Without Borders (Correct Answer)
5. MBMX Metal Backed Money is a decentralized digital asset that’s backed by?
a. Silver & Gold
b. Gold & Platinum (Correct Answer)
c. Diamonds and Silver
d. Platinum & Diamonds
5 Lucky Winners who answered correctly will each be given $50 of $MBMX! Amazing!
Finally we have reached our last segment of the session, where the AMA host — Coinstore Nicole — will be announcing the giveaway winners!
These are the breakdown of the prizes:
- Segment 1: $50 USDC each
- Segment 2 & 3: $50 worth of MBMX each
- Lucky Draw: $100 worth of MBMX each
- Treasure Hunt: $40 USDC each
With this we have come to the end of our AMA session! Hope you had a better idea and understanding of the Metal Backed Money project and you can head over to Coinstore’s website now to start trading now!
These are the questions we managed to answer during the AMA amongst the many other questions that were asked because there were simply too many questions from you guys (do keep them coming in!!). We will be happy to answer any other questions you guys have in our telegram channel, so do head over and join our community today! 🤗
Follow MBMX’s Social Media:
Telegram Channel: https://t.me/MBMXOFFICIAL
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