Telegram AMA — 15th April 2019 (Responses)
Our last AMA was a roaring success. That’s why we decided to ask our 13,000+ strong Telegram group for a few more questions. 23 of the best ones are attached below with our answers.
1. Can you give details about your marketing campaign? When will we finally see it starting? Have you got any updates about your marketing strategy?
We’ve already started working with CryptoBrandLab (CBL) and are working on explainer videos, content, and a brand new website to be published in the next few weeks. We’ll be focusing on educating people about our product, bringing awareness about our product to the market, and building a foundation that makes scaling easy.
2. How are the BD and Platform Development ongoing?
BD-wise, we’re working with our existing partners (including Dreamplus) to push our curriculum through and distribute it. Blockchain is still in its nascent phase so it’s important we do everything we can to show enterprises the importance of technology and education in this space.
Platform development is ongoing and moving forward quickly. We’re currently taking in feedback from users and organizations to improve our UX/UI.
3. Can you give further details on your current revenue?
We are currently receiving revenue from enterprises, subscription payments, and our work on nodes. We are unable to reveal more for fear of disclosing sensitive information in our competitive industry.
4. Could you maybe develop a tool that allows people to track platform activity so we can actively watch the platform’s adoption data?
Thank you for your thoughtful suggestion. We are currently working on getting an Executive Dashboard that shows statistical information about platform usage, both overall and per organization. Organizations will be able to track their own usage and members of the public will be able to see how quickly our tech is getting adopted in the near future.
5. Regarding your treasury model; When will we see the revenue going into the open market?
It is hard to pinpoint an exact timeline as we are working on tasks on a case-by-case basis. However, we have a firm commitment to let our community know as soon as we’ve made firm choices and decisions on the matter.
6. Will you guys create a kind of map where we can see where revenue is being created? Like WaBi is doing; https://vy.tc/hCKkO97
At the moment, the industry is too competitive and the topic too sensitive for us to make this change.
7. How many real cases there are when companies successfully build on your platform? Can you mention some of the greatest users of the Morpheus Labs platform.
We are unable to reveal the exact numbers at the current moment. However, we are speaking to small and large multinational companies and discussing the development of blockchain-powered applications. Our platform launch only happened in late January 2019, so it may take some time for us to reach “critical mass” and make tangible progress. Look for more news through Q2 ‘19.
8. Any ETA on when the AMA’s will come with partners and clients?
We are working on a few upcoming AMAs with our Blockchain Partners. Stay tuned to our Telegram channel for more updates! :)
9. What kind of other Businesses are you guys targeting?
Systems’ Integrators, Developers Houses, Enterprise Clients of the Blockchain Partners and Education Institutions are in our sights. We are open to working with all services, though, being blockchain agnostic.
10. Any update on the partnership with a Big 4 company?
We are currently in negotiations and close to finalizing a deal. As we have an SOP to adhere to on the client’s side, it may take a few more weeks to finish everything.
11. Have you guys been talking with other Government’s?
Yes, we had previously shared that we are talking to the Oman Government on our Social Media channels.
12. Regarding the Smartdrop release coming soon. What if theoretically everyone who gets the Smartdrop dumps their coins, is there a contingency plan?
We have some due diligence put in place. However, if someone really wants to dump our coins and invests a tangible amount of money into the effort, there’s little we can do.
13. Is there a plan where/when people can stake/hold/lock their MITX tokens for rewards? Can we somehow actively track that for increased transparency?
There will be rewards in the form of discounts given to platform users. We do not embrace airdrops as they’re damaging to tokens’ health in the long run. At the current moment, our priority is still on platform development and we will look into ways to track for increased transparency soon.
14. Is it true that your yearly income from platform users is 6 digits? Can you mention a more specific number?
The 6-figure numbers you may have seen are revenue from our pre-launch and our first launch. The amount so far is in excess of USD100,000 in our first launch phase. We are now looking to scale our efforts by attracting new customers into the ecosystem and working on scalability.
15. Are you interested in the European market?
Yes. Stay tuned, we will be announcing some updates about this soon.
16. Will you guys share your actual overview of the costs that MITX had like Blockport did?
Thank you for your suggestion but we aren’t exploring this option at the moment.
17. When will the new MITx Token Economics start? Where can I lock and stake them? Will there be a special plan rolled out for that?
We are constantly working on MITx Token Economics. Rest assured that we will share our progress with the community when the time is right.
18. I only see staking options for ‘Partners’, ‘Developers’ and for discount not just for the people who are HOLDING $MITX. Why are you guys not creating anything for the people that are just holding them.
There are many factors that we need to consider prior to the execution of such a legal compliance system. At the current moment, we have a PoA mechanism in place to offer discounts when subscribing to our platform. We thank you for your thoughtful suggestions.
19. Can you provide an update on the Smartdrop with QuarkChain as there seems to have some feedback on the discrepancies for the campaigns organised by QuarkChain in the past.
There is a stark difference between the Smartdrop and traditional airdrop campaigns. The token staking process increases winning odds, not the amount of tokens grantted. The SmartDrop will be carried out as it was promised to the community.
20. When will the next token burn happen?
As mentioned in the Token Burn Article, we will conduct monthly token burns progressively — the next one will be in May 2019.
Sure, thank you for your suggestion, we will take a look at Elrond Network.
22. Are you guys working with other blockchains to extend your list of partners?
Theoretically, yes as the blockchain partnerships will constantly boost the platform confidence for us to emerge as the market leader and it will eventually be the “go-to” platform for the other blockchains.
23. Can you show us some proof of MITX’s relationship with the Singaporean Government?
Earlier on, we organised an event supported by SGInnovate, IPI Singapore and Wantedly. IPI Singapore is an affiliated company with Enterprise Singapore where they constantly bridged us to potential enterprises who are keen on blockchain developments.
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