Morpheus Labs ICO Review – Blockchain Platform As A Service - Crush Crypto

Morpheus Labs ICO Review – Blockchain Platform As A Service

Summary

  • Project name: Morpheus Labs
  • Token symbol: MITx
  • Website: https://token.morpheuslabs.io/
  • White paper: https://token.morpheuslabs.io/assets/documents/WhitePaper.pdf
  • Hard cap: 12,000 ETH (ICO contributors receive 25% of total token supply)
  • Conversion rate: 1 ETH = 8,000 MITx
  • Maximum market cap at ICO on a fully diluted basis: $18 million assuming current ETH price of $380
  • Bonus structure: 50%/35%/20% bonus during presale
  • Presale or white list: Over already
  • ERC20 token: Yes
  • Countries excluded: Not announced publicly
  • Timeline: Crowdsale ongoing until April 15, 2018 (Please refer to Morpheus Lab’s website for the most up-to-date information)
  • Token distribution date: Immediately after contribution
Video summary (video is 5:01 long):

Project Overview

What does the company/project do?

Morpheus Labs aims to build an enterprise-grade blockchain platform as a service (BPaaS) with an blockchain app marketplace that enables organizations to design and operate distributed ledgers.

The project will provide organizations easy access to a platform that enables them to develop, test and manage blockchain applications using different blockchain protocols supported to achieve rapid prototyping, cost efficiency and a fail-safe environment.

It will also support distributed hosting for blockchain network nodes and off-chain applications while providing a centralized platform service for developing, managing and regulating blockchain networks.

The team will assist in providing turn-key solutions to enterprises. Morpheus Labs will feature a dApp Library which shortens the time and reduces the costs to deploy an application.

The diagram below illustrates the platform architecture:

The blockchain platforms that Morpheus Labs support are Ethereum, Multi-Chain, and Hyperledger, and may expand to other blockchain in the future.

How advanced is the project?

The idea was accepted into SGInnovate, a startup group by the Singaporean Government, in 2016 Q3.

An MVP was developed in January 2018. Here is a demo of the platform MVP (video is 3:10 long): 

The project has entered into partnerships with various organizations as detailed below:

Below is their roadmap:

June 2018: Official sales partnership campaign for rest of Asia and UAE region / launch blockchain lab across Southeast Asia

July 2018: Commercialization phase – enable users to manage their monthly usage of the platform

October 2018: User experience enhancement

2019: Interoperability between blockchains / launch blockchain lab across rest of Asia and UAE in innovation labs, accelerators, co-working spaces, college and universities

What are the tokens used for and how can token value appreciate?

MITx tokens are used within the Morpheus BPaaS network for all the fees, including services and products rendered, platform subscription, distributorship licensing, and token swaps with other digital currencies.

The more companies using the platform and the more activities the platform has, the more valuable MITx tokens should be.

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Team

The core Morpheus Labs team consists of 10 members. The bios of key team members are listed below:

Chuang Pei-Han, CEO – Serial entrepreneur, Director at Banyan Tree Ventures, Founder of QIITO.

Bruce Lu, CTO – Senior Managing Consultant and Lead Senior Architect at IBM, built business applications using Hyperledger as the lead architect.

Dorel Burcea, CIO – Group CIO at UniCredit Group, previously Senior Project Manager.

Branson Lee, Co-Founder – Head of Talents at Singapore FinTech Association, Major Account Director at Gartner, Country Manager at Ezypay.

Morpheus Labs’ advisors include Dr. Simon Choi, Founding Partner of Acme Ardent, a Chinese law firm, Dr. Rex Yeap, owner of over 20 IT related patents, among others.


Opportunities

  • The team focuses on both the technical and business side of project development. They have a sound go-to-market strategy and have signed up legitimate clients already, demonstrating that the business is viable.
  • The project is incubated by the Singaporean Government and their clients include university and government entity, which lends legitimacy to the project.
  • One of the main features of the platform is the subscription model, which will provide recurring revenue to the platform and is much more stable than project-based revenue.
  • The industry for enterprise blockchain solutions is large. Should Morpheus Labs become successful, the upside potential can be substantial.

Concerns


Conclusion

Overall, we like both the flipping and long-term potential of this ICO. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:

For flipping

Good. The hard cap has been substantially reduced from $25 million to below $5 million at the current ether price. For a promising project like Morpheus Labs, the hard cap is low even considering the current market environment.

For low cap projects, the biggest issue is often liquidity because they don’t have enough budget to be listed on exchanges. For Morpheus Labs, the team has set aside a considerable amount of tokens for listing on exchanges, so liquidity should not be an issue.

For long-term holding

Good. This could be one of those projects that can achieve substantial upside due to launching the ICO in a bear market. The low hard cap makes this project a lot more compelling.

The project is led by an experienced team who has built blockchain apps for enterprises before. Therefore, despite the competition, we believe they have a good chance to succeed, at least in a niche area (i.e. Southeast Asia).


For more information about the ICO, please visit the following links:

* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.

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