On the 13th day of December 2017, Moria proudly announced the commencement of their ICO. As per a Press Release from the startup, the funds collected from the public token sale were to be used to power the company’s mandate. The company had projected to use the money to reopen Colorado’s Bates Hunter gold mine and its investors were to get a reward of “quarterly mining royalty payments.”
Today, 32 days before the ICO period elapses, an impressive $6 million has been raised out of the targeted $30 million. But away from the amount to be raised, it’s great to talk about the Moria Token (MOR) and why its integration of cryptocurrency (Ethereum Network’s ERC20 token) and with corporate bonds is likely to be a successful investment.
What Are Moria Tokens?
Moria Tokens refer to ownership of royalties from the defunct Bates-Hunter Gold Mine once the project is re-launched. The project seems exciting and lucrative since any token holder with an ERC-20 wallet will receive payouts from as little as 20% of the ICO price, paid as ETH, every three months and according to the mine’s gross revenue.
The Moria Token ICO Tokens
Unlike other tokens, Moria Tokens have a unique quality of paying tokens based on what’s tangible, visible and accountable. By combining the attributes of corporate bonds and blockchain-based cryptocurrency, investors get to earn from the tokens as well as the income obtained after mining gold. At the ICO, there are 30 million ERC-20 tokens in each retailing at $1, while all tokens are securitized to offer royalty revenues to its investors, both onshore and offshore individuals.
Bates-Hunter Gold Mine
Bates-Hunter Gold Mine covers 35 acres, and according to geological studies and mapping, it still has over a million ounces to be mined and thus over $120 million regarding annual revenues. The mining location is located in one of the riches veins of Colorado, a place that has historically churned out over 200,000 ounces of gold.
The Moria platform is a step away from what has been taking place in the conventional world. It is set to democratize the way we invest in what’s traditionally a reserve for the moneyed and well-connected persons. By simply owning tokens or owning Bitcoin or Ethereum coins, you can be a stakeholder since both are acceptable as coins for payment.
Can This Project Be Trusted?
Cryptocurrencies are prone to excessive volatilities, and this feature often extends to their respective ICOs. However, with this project, volatility has been taken into account, and the final value of the Eth you will receive is based upon the amount you put in.
It also has a detailed Whitepaper (https://moria-prod-static.s3.amazonaws.com/Moria-Tokens.pdf) that explains everything, including why it is bound to bear results. These are some of the factors that indeed make Moria Token a unique and exceptional investment project.
Final Thoughts Regarding Moria Token ICO
Here is an exciting investment opportunity which investors from around the world can participate in and get regular returns. It aims to use the funds collected from the crowdsale to fund mining and sale of precious gold metals and give its investors rewards on a quarterly basis.
The investment project is issued by GS Mining Company, a US-based company, and managed by Ethmint LLC. With that said, this investment opportunity is worth investing in!