A few weeks ago, I wrote an article about why I still believed in Monkey even if you didn’t. A lot has happened since then, and I am more than ever convinced that I did the right thing in supporting this project, even if the timing was pretty awful. As a disclaimer, I have obviously invested quite a bit in this project, but this description is my honest understanding of what will happen.
I’m not going to go into details with some of the controversies that have happened around this whole venture, but more focus on what will happen in the near and long-term future in order to explain some of the things that might have been a bit confusing. There’s a lot going on at the moment, and these things may, and probably will, change fairly quickly, but I feel like a summary can help some of those who want to understand, but who don’t have access to a whole lot of information, or who don’t have a lot of time to sift through loads of Slack.
First off, Monkey has bought the domain www.monkey.com. Feel free to click the link and check out the new count down homepage. This cost a reported $500,000 (https://www.namepros.com/blog/blockchain-company-monkey-acquires-monkey-com-for-500-000.1036749/) and will serve as the homepage for the platform that’s being developed as I’m writing this.
What platform is that? Well, after a bunch of trouble with a couple of different platforms, the Monkey team decided to build their own. They have hired a handful of programmers to construct a new kind of platform for the Monkey family of tokens. It was realised that the idea of simply buying up Coeval tokens with money made from investments kind of hinged on the idea that people wanted to sell them, which wasn’t necessarily a given if selling one’s Coeval meant that the next Coeval became worth more. A new family of tokens with a range of different properties has been developed. Their relationship is a bit complicated and I can’t really do it justice, so here are the links to some videos describing the so called Token Game, as well as the Value Coeval Model:
Token Game 1:
Token Game 2:
Value Coeval Model:
Alright, so far we have a bunch of tokens floating around, all with different properties and different supplies. How does that make you money? Well, since Monkey is more than just an idea or a technology, the success of Monkey doesn’t hinge on a single thing going well, unlike pretty much every other ICO out there. Monkey will serve as a platform for specially selected, highly promising future ICOs and subsequent companies to get help to maximise their profit. This can include things such as substantial investments, PR help, legal help, programming help, and many other things. The ICO company will promise a share of the tokens it releases to be exclusively on sale for Monkey token holders and through the Monkey platform. Holders of Monkey tokens will then be able to buy tokens from successful ICOs at a highly discounted rate, either during an ICO or after, when the tokens have increased in value.
Basically, Monkey invests in promising ICOs and allows you to buy in on them after they have proven to be successful at a highly discounted rate. Clearly, being able to buy successful ICOs at a discounted rate will attract people to buy Monkey family tokens, which will then further increase the price of the Monkey family tokens.
So far, so good. But where are all of these successful ICOs? Patience, padawan. The platform isn’t even up and running yet but there is already a promising ICO available for holders of Coeval. If you haven’t heard of Golden Fleece, I’d highly recommend checking it out here: https://goldenfleece.co/. It’s basically the smartest money making machine you’ve ever seen, where a bunch of crafty guys have set up a blockchain mega mine, mining profitable coins with hundreds of GPUs. They have a guaranteed electricity price and support from the local Gregorian government, and anyone who’s into rugby will know that the Gregorians don’t fuck around. Neither do these guys.
I’ll go into greater details about the Golden Fleece deal in another post, but the short version is that Monkey has acquired a large stake in the company against highly discounted tokens. The full details are found here: http://www.coinslip.com/?p=18, but the essence is that every Golden Fleece token (GFL) you buy on Waves using COE will be exchangeable for a certain number of ether-based GFL tokens (GFLETH) at the end of the ICO. The number of GFLETH per GFL is determined by how much funding the ICO gathers, and unlocks in tiers. We are currently (07/09/2017) at Tier 2, which unlocks around 7 GFLETH per GFL. In another $36,000 raised, this number increases to around 14 GFLETH per GFL, and if the ICO raises just under $9 million, each Waves token will give around 23 Ether tokens. The current price of a GFL token on Waves is around 0.01 COE, meaning that this has a chance of being a highly profitable investment.
Currently I know of two further, concrete ICOs that Monkey is discussing releases with, but I have heard of plans of up to ten ICOs in the near future. At the moment, these are “traditional” ICOs, but buying through Monkey will give buyers the opportunity to buy at much lower price than the rest of the market. Of course there is risk involved, as with any investment, but the discounted price and carefully curated selection is likely to massively decrease the risk involved in investing in these ICOs.
This is only the beginning and the Monkey platform will keep expanding in new and exciting ways, continuously adding value to ventures that it enters. A lot of effort has, still is, and will keep going into this project, and all of the headwind has only made the team stronger, more dedicated, more precise, and more hell-bent on changing the way the world does business.
So there you have it. I wasn’t going to bother addressing it but I will put it in for the haters. Monkey is not a scam. Monkey is a huge project with the potential to change the fundamental way business is done on the blockchain. We’re still at the slow birth of this phenomenon, but I am convinced that this will be one of the biggest phenomena so far on the blockchain. Hold on to your hats and bananas, Monkey is here to stay!
As always, feel free to comment or contact me if you want more info and I'll help as much as I can!
Mathias