Myōbu is an Ethereum project which has successfully moved beyond the “meme token” label, by becoming a community focused on generously giving back to its members. It’s named after celestial foxes who guard shrines to Inari, the Japanese god of the harvest.
The $MYOBU token has consistently trended on chart tracking sites after launching just 4 weeks ago, growing at a pace rarely seen in new projects.
So why so much attention for such a young project?
It’s simple. The token ecosystem is uniquely designed to create a constantly growing fund, to serve its community by providing Fun, Useful and Rewarding creations. (Lovingly referred to by the Myōbu community as Fox F.U.R.)
This fund, called the Fox Hole Fund, currently holds over $600,000 worth of ETH, all of which is used to fund further development, marketing and also to give back to the community.
This leads to $MYOBU being a very attractive token to hold. Because many project struggle to get off the ground due to running out of funds, Myōbu will never have this problem.
On top of this, holders have already seen many excellent benefits from being in the community. For example, over $30,000 has been given to the community in various contests from the Fox Hole Fund so far. The team has also shared plans to give away much more in future contests, smart contract games and more.
And it’s not just the community that benefits. As a special event around the EURO 2020 football championships, the team created a “pick the winner” community event to donate funds to charities if the community could correctly pick the winner of each match.
As you can imagine, a community like this, with ample funds available to support the ideas & dreams of its members, attracts some top-tier talent and excited users. Three members have recently stepped up to create a Twitch channel, and become advocates for the Myōbu brand.
Myōbu has also announced upcoming work with some skilled graphic designers to create a merchandise line with apparel and more.
Our goal is to “create a community online and offline, where you know you are part of a family and we all have each other’s backs and support each others dreams… and have a bunch of fun along the way.”
The big announcement of the month is the “Grow Together” market-cap challenge.
This is a new announcement where the Myōbu team has announced several prizes once the project reaches significant market caps.
· At $15m we plan to give away 5x Playstation 5s to the community (Worth ~$2,500). Who is eligible?: Minimum holding of 5m $MYOBU token
· At $25m market cap, we plan to give away 2x Greyp eHyperbikes (Worth ~$10,000+ each!). Who is eligible?: Tbd.
· And, the biggest announcement, once the project reaches $50m market cap, we will give away one Tesla Model S (Worth ~$50,000!). Who is eligible?: Tbd.
The Myōbu team will draw a random wallet from etherscan and check eligibility of the wallet. Sellers will not be excluded as potential winners.
Any of these prizes the winner can also opt to receive the cash or crypto equivalent of the prize too, if receiving the physical item isn’t practical or possible.
It’s clear to anyone who’s been around crypto that most projects don’t operate like this. Myōbu is special because of the focus on giving back to the community, and creating a social aspect around it.
Many experts are saying these types of projects, called “social tokens” will be the unexpected winners of the market that succeed in the long-term. Because not only will they have the benefit of being a profitable investment, they will also create a space where holders feel rewarded, valued and appreciated. And that type of community is hard to fake. It has to emerge organically, stewarded by a team which knows the value of community engagement, which the Myōbu team has done exceptionally well.
Just hopping into the community chat for 10 minutes, the energy is impossible to ignore, and this is why it’s very clear this project is destined to head to the top of the charts.
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