Györfi András

Mining a token that mines gold?

2018. január 22. 21:59 - Györfi András szerk

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The ICO space is going forward with growing speed, soon someone might even place using the toilet on the blockchain. Jokes aside, food and pharma, the entertainment industry, online casinos and many more are gravitating towards the crypto world. Who will stay alive in the coming years is a great question, only time can tell.

The token I'm introducing today however is truly unique. Mining is obviously a brilliant term for what many are doing in the past ten years with cryptocurrencies. The process, the logic, even the hussle of keeping mining rigs up and running is truly a good analogy with the traditional precious metal mining.

But have you ever thought of connecting the classic mining industry with the blockchain? Well, someone sure has. Moria Token promises to become the worlds first decentralized investment platform for precious metal extraction. Sounds exciting. Their website has a rather short but informative introduction:

Moria Tokens represent ownership of royalties from the Bates-Hunter Gold Mine. By holding these tokens in your ERC-20 wallet, payouts of royalties commencing at 20% of the ICO price will be made to you in Ether, every 3 months, based on the mine's gross revenue. It's really that simple. Moria will be the first cryptocurrency that provides immediate cash flow

They claim that there is an actual gold mine behind the project named "Bates-Hunter Gold Mine" located in Colorado in the US. Gold mining will become democratized, instead of an exclusive, elite club of investors, from now on anyone can own a (small) piece of the mine and receive royalties.

Read the Whitepaper here.

You can chip in with either bitcoin or ethereum, they promise that the payouts done in ethereum will be based on the value of your investment. By doing so, they want to avoid volatility. They wish to raise 30 M USD during the ICO, an ambitious goal indeed.

Their team is impressive, a lot of oldtimers in the mining industry, although only two guys with significant IT experience. So if your childhood dream was to become a goldminer (or golddigger) then now you finally have a chance to participate in an actual gold mine. Either by buying Moria Tokens, or by mining mining tokens...

Many more ICO news coming up, follow me on Facebook!

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