TaaS Contributes to MorpheusLabs, Blockchain-as-a-Service Platform
February 22, 2018 — Singapore — Token-as-a-Service (TaaS), the first-ever closed-end tokenized fund dedicated to blockchain assets, announces its contribution to MorpheusLabs, a blockchain-platform-as-a-service startup. 300 ETH was contributed during the Morpheus Infrastructure Token (MITx) Private Sale.
MorpheusLabs is a blockchain platform with an additional blockchain app marketplace. It aims to provide businesses and entrepreneurs with the necessary infrastructure and a set of integrated tools to rapidly design, deploy and operate distributed ledgers.
The platform helps enterprises obtain services and develop concepts by soliciting contributions from a wide range of partner experts and a curation of crowd contribution. This allows for a broad aggregation of innovative ideas and solutions within a relatively short period of time.
Chuang Pei-Han, CEO of Morpheus Labs, said, “We are excited to be partnering with TaaS. It is a vote of confidence for us and motivates us to deliver our project to fruition. We believe this partnership will deliver tremendous value to both organisations.”
MorpheusLabs has launched the Token Generation Event (TGE) in the form of a private sale. Its Morpheus Infrastructure Token (MITx) can be used to procure any service within the platform network and pay service providers within it. The company aims to raise $25 million from the sale of its 250 million MITx.
Ruslan Gavriluyk, co-founder and President of TaaS, commented, “The MorpheusLabs platform is a product in high demand. It empowers organisations of any size through all stages of their blockchain use case development, with minimal effort and cost. MorpheusLabs aims to reduce barriers to blockchain adoption, which businesses and developers usually face when developing their ideas.”
TaaS’ contribution to MorpheusLabs is the second one in its fourth fully-operational quarter. Previously, TaaS contributed 115.48 ETH to Iconiq Lab, a global initial coin offering (ICO) and token-sale accelerator program.
TaaS entered this quarter on February 1st, 2018 showing a significant 364% growth of total asset value during the previous period (November 1, 2017 — January 31, 2018). Based on the results of the third quarter, TaaS outperformed the global cryptomarket by an est. 82% and Bitcoin by over 205%. TaaS capital gains for the period exceeded 22.2 million USD(T) equivalent, generating a 293% ROA.
The TaaS token (TAAS) is currently trading at the price of 5.98 USD(T) equivalent per 1 TAAS, resulting in a market capitalization of 48.7 million USD(T) equivalent. TAAS is currently traded on Bancor Network, EtherDelta, Liqui, Livecoin, Orderbook, HitBTC, and CoinExchange.
About MorpheusLabs: MorpheusLabs is an enterprise-grade blockchain platform as a service with an additional blockchain app marketplace that enables organizations of any size, to rapidly design, deploy and operate distributed ledgers. The company is founded by a cross-functional team that has a combined 70 years’ experience in artificial intelligence, blockchain, mobile application, cybersecurity and IoT across Europe and Asia. Morpheus Labs BPaaS works both as a B2B platform for businesses to rapidly prototype their ideas and projects, and B2C model for freelancers or individual developers. The platform will support distributed hosting for blockchain network nodes and off-chain applications while providing a centralised platform service for developing, managing and regulating blockchain networks.