Morpheus Labs is an innovative platform that seeks to connect the business world and blockchain. This is through its enterprise-grade platform and an additional blockchain app marketplace. It has a service called the Blockchain as a service platform (BPaaS) through which companies can build applications.


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Moreover, the platform also supports hosting for Blockchain network nodes and off-chain applications. Morpheus therefore tests and deploys dApps for companies to successfully leverage them to get the best returns.

Team

Morpheus Labs operate from Singapore. The significant figures in the project are Chuang Pei-Han, Branson Lee, Dorel D. Burcea and Bruce Lu Yang. Chuang is a seasoned entrepreneur having served seven years in the banking sector while Branson is a former member of the Singapore Fintech Association with more than a decade in business and partnership as well. Altogether, this is a dedicated and competent team of business minds and technocrats that can take MITX places.

Roadmap

The Morpheus website features a roadmap with a ‘business’ and ‘technical’ section. Morpheus labs did conduct a successful ICO in 2018. In 2019, the focus now is on improving partnerships and launching a new blockchain curriculum/academy.  An example of such partnership is the Software as a Service (SaaS) platform will allow customers and partners to leverage our emerging technologies with their legacy infrastructure (such as Enterprise Resource Planning (ERPs). This will go on in Q2 2019 through to Q4 2019.

Important Partnerships

Some important partnerships include: QuarkChain, Veritag, Vechain, Sure international and NEM. These are notable entities in cryptocurrency, technology and logistics circles. The partnerships give Morpheus great latitude and room for growth.

Tokenomics

The Morpheus crowd funding ended on April 16, 2018 where each ERC-20 compliant utility token in MITX was sold at $0.10. The ICO raised approximately $9.6 million of the $10 million hard cap receiving 4-stars from ICOBench, a ratings platform.

At current rates, the ROI is as follows: USD= X 0.13, ETH= X 0.64 and BTC = X 0.21. The downturn in the market definitely affected MITX prices. Investors are apparently struggling to break even.

Token distribution was as follows:

25 percent or 200 million MITX utility tokens were available for sale. The total supply is 800 MITX with a market capitalization of $3,044,895 according to data from CoinMarketCap. Even so, daily volumes are light at $146,536.

Price Analysis

According to data streams from HitBTC, MITX, like most assets, is correcting after last week’s rally. From the chart it we have a series of higher highs and connecting lows print a clear uptrend. Besides, notice that MITX is trading within a bullish breakout pattern against ETH. Typical of a correction, ETH do have an upper hand, at least for now, before MITX bull flow driving prices from 0.0000865 ETHs or $0.014 to above Mar 31 highs at 0.000125 ETHs or $0.021. Notice that the retest is complete and MITX has support at previous resistance now support at $0.014meaning that MITX may continue printing going forward.

Short Term and Long-Term Price Catalysts

Morpheus Labs value proposition is from creating a simple channel from where business can adopt DLTs in their day-to-day operations. By doing the leg work for projects–saving them up-to 50 percent of costs, and simultaneously allowing founders to deal with immediate and pressing concerns, the BPaaS, is attractive.

In the short-term, MITX prospects are rosy. Apart from recovering ETH and BTC prices which are outside the control of MITX, at core the team ensure that investors are incentivized to participate. As a result, there is a token economy in place where MITX holders are set to receive part of the platform’s revenue drawn from subscription fees. Furthermore, to eliminate on-boarding friction, Morpheus Labs will be purchasing the token from the open market on behalf of the customer via the platform’s treasury partners including OTCs. Combined, MITX gas payments, subscription fees payable in MITX and the platform buying tokens from secondary markets is bullish for the coin.

Additionally, Morpheus Labs has a solid road map. In five years they want to be a go-to platform and that mean striking partnerships with multiple exchanges for listing purposes as well as on-boarding several Fortune-200 companies, one big four accounting and audit firm as well as increasing their blockchain partners. All this is according to insights drawn from Pei-Han, the CEO of Morpheus Labs in a recent interview.

GoDex and Switcheo are DEXs rumored to be negotiating but the bottom line is that Morpheus Labs are keen on collaborating with reputable on-ramps. At the moment, liquidity is still low but investors can trade MITX against ETH and BTC at HitBTC and against ETH at IDEX here: https://idex.market/eth/mitx. Other MITX supporting exchanges include Liquid, FCoin and Coinsuper. With the awareness that partners shall pay listing fees denominated in MITX, there is assurance of demand which in turn lift prices.

In the long term though, it is where the real value lies and therefore worth hodling the token. First, Morpheus‘s integration with VeChain, a platform that is specifically designed to address fallibilities around supply chain, identity, logistics and internet of thing is a big plus.  Other protocol partners include QuarkChain, NEM, Neurochain and Nuls.  The objective here is to increase the “breadth of blockchain choices” as it offers a competitive advantage for Morpheus.  

Other collaborations include that with Argos Solutions—specialized in compliance, SmartMind who are experts in  Big Data and with Hanwha Dreamplus—a start-up accelerator both of south Korea. Although bound by several NDAs, we can glean from what’s floating around that Morpheus plans to partner with Amazon Web Services. Besides, they are taking advantage of Singapore’s initiative and working closely towards achieving Singapore’s government objectives. When we morph this, it’s no doubt that forging symbiotic relationships with similar or superior DLTs and working closely with government agencies tags with it credibility and trust.