Morpheus Labs Generates 6,200 ETH in Private Sale, Announces New Partnerships

Blockchain-Platform-as-a-Service (BPaaS) for enterprises, Morpheus Labs, has successfully raised 6,500 ETH from its private sales.

The two-week long event, which ended on February 24th, hauled in well over $30 million in written commitments from global supporters who were specially invited to the event. The Singapore-based startup is now gearing up to launch its main Token Generation Event (TGE) on the 9th of March.

Morpheus Co-Founder Chuang Pei-Han explains: “We are very excited and thankful for our community and early supporters. The private sale was a true testament of our product, team, and strategic vision to bring value to the blockchain industry by making blockchain more accessible for enterprises globally.”

Morpheus Labs is an enterprise-grade blockchain platform that aims to position blockchain technology as a scalable service platform for organizations of all sizes. Developed with an additional blockchain app marketplace by a cross-functional team, boasting 70 years of combined experience in AI, mobile application, blockchain, cybersecurity, and IoT, Morpheus Labs is simplifying and expediting blockchain application development on an industry-wide scale.

Morpheus Labs BPaaS serves as both a B2B platform for businesses and organizations to swiftly prototype their creations and properties securely, and B2C network for freelancers and individual developers. Morpheus Labs supports decentralized hosting for off-chain applications and blockchain network nodes while facilitating a centralised network service for the development, administration, and regulation of blockchain networks.

Following its private sale, Morpheus Labs has announced the launch of its three-tiered public token generation event (TGE). The first tier is live and runs till March 9th, rewarding all contributions with a 35% bonus. The second tier kicks off on March 9th and ends March 23rd, rewarding all contributions with a 20% bonus.

The third tier does not include any bonus, running from March 23rd to April 15th. Hard cap for the TGE has been set at $25 million from the 250 million MITx tokens on offer. Participants can contribute to the event using Ethereum at 8,000 MITx per ETH.

Morpheus Labs signed an MOU with Momentum Works on February 26th. The MOU aims to spearhead a Asian-based joint collaboration on ICO projects. Headquartered in Singapore, Momentum Works is a venture builder with projects spanning Southeast Asia, Middle East, India & Latin America. The company also consults for stakeholders looking to penetrate key promising markets through tech business models.

Momentum Works is backed by influential tech veterans, giving the venture building company a definitive edge and strategic overview of the technological ecosystems in China and other parts of Asia.

Combined, the partnership between Morpheus Labs and Momentum Work signals an important strategic alliance for yielding synergies and industry access to some of the best talents in the region and revenue generating companies.

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