Blockchains are an inherently complex concept to grapple, especially for businesses that are not primarily associated with technology in the first place. The implications of the technology extends far beyond cryptocurrencies and the financial ecosystem. So far, governments and private businesses have both expressed overwhelming interest in adopting blockchains for various types of services. Even the Chinese government that imposed a regional ban on initial coin offerings in September 2017, has stated that it would be looking into implementing the decentralized tech into some aspects of governance.
Considering the widespread demand and overwhelming benefits that blockchain technology brings to the table, it is estimated that the surrounding ecosystem will only continue to grow in the next few years. After all, even though the concept has been around since the inception of bitcoin in 2009, it was only after the cryptocurrency gained mainstream traction that the underlying technology also became public knowledge.
In such a competitive space where every business is seemingly in a race to adopt a blockchain as soon as possible, the market has opened up for companies that can offer expertise in the technology. Morpheus Labs is one such unique company based out of Asia that hopes to reconcile the concept of blockchain-based platforms with the workflow of existing businesses.
Morpheus Labs pledges its platform to enterprises that need to quickly deploy a blockchain application for their business. Conventional implementations of the technology usually require the company in question to hire a large team of skilled developers that are not only proficient with the concept of a blockchain, but can also promise a quick turnaround time. In lieu of that, Morpheus offers a dedicated blockchain platform that offers businesses the tools required to get started with the technology as fast as possible.
In addition to developing blockchain-based applications, Morpheus Labs also offers consultancy in the planning and deployment stages of the process. Companies looking to integrate a blockchain platform into their workflow need to properly analyze their approach to the technology. A proper assessment of the advantages, limitations and most importantly, feasibility of such a platform is of utmost importance. Furthermore, Morpheus extends its consultancy service by introducing and potentially educating other employees of the company to the developed platform, which can otherwise be a daunting endeavor.
The co-founder of Morpheus Labs, Chuang Pei-Han, stated that the company was positioning itself to become “the Apple of the blockchain industry.” He continued, “We are removing barriers of entry like upfront installation costs, providing access to open-source applications and boosting time to market for all parties.”
On 16 January, 2018, Morpheus Labs announced that it had received funds from a Chinese angel investor at a $2 million valuation target. The company will also be launching an initial coin offering for its native Morpheus Infrastructure Token (MiT). Morpheus Labs hopes to raise $25 million through the sale of 125 million tokens in total.
As of the time of writing this article, Morpheus Labs has scheduled a token sale to begin around a month from now, on 26 February, 2018. Investors that participate in the first round of the sale, expected to run through March 8, will receive a 40% early-bird bonus. This will not be the only initial coin offering by the Morpheus, however. Sales of different types will continue to occur until the end of May 2018. Importantly though, the pre-sales involving an extra amount of tokens, will only be in effect until April 15.
The company is offering its token to only certain investors that are whitelisted by the company prior to the initial coin offering. Interested individuals will need to submit a form, indicating their affiliation with past investments and the amount of money that they will be offering, among other things. A link to the form can be found on the Morpheus Labs’ website for the token sale.
The Morpheus Infrastructure Token will be offered in exchange for a host of cryptocurrencies, including, at this time, bitcoin and Ethereum.
Morpheus Labs has been largely transparent with regards to its token and finance distribution plans during and after its token offering. The company also released a technical roadmap for the platform’s development ranging from the third quarter of 2017, all the way to sometime in 2019. Complete commercialization and user experience enhancement of the platform, for instance, is expected to be completed by the end of 2018. In the future, that is, 2019 and beyond, Morpheus Labs will explore the possibility of interoperability between several different blockchains.
A large part of the Morpheus Labs team is based out of the South East Asia region. In 2017, the blockchain startup received an official endorsement by SGInnnovate, an initiative by the Singapore government. Morpheus is also supported by a host of other organizations, including the Singapore Fintech Association, Snap Innovations and IPI Singapore.Opinions expressed here by Contributors are their own.