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Mithril (MITH): The cryptocurrency that brings Black Mirror’s Nosedive to life

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Mithril

Mithril (MITH) is an ERC20 token which reward users who perform “social mining”, that is, they integrate with social media and reward users for their content’s popularity –likes, views, watch time – yes, like in that episode of Black Mirror. It’s also worth to mention a very important detail – it’s the third best performing coin of 2018, meaning it was the best investment option you could have done at the beginning of 2018 until now – growing 240.27% against Bitcoin. This is an opposite trend to most of the other cryptocurrencies, as they have shed even more than Bitcoin did. Mithril’s partners and advisors include Pantera Capital, Sora Ventures, and QTUM Foundation

In a future where Mithril gets more visibility, we can expect content creators and web influencers adopting social media which have Mithril implemented, and a lot of Social Medias consequently adopting Mithril, since influential people will be there. It’s a vicious cycle. As social media is each day a more important part of people’s overall life, and internet superstars are more popular and influential than ever, this platform fits like a glove.

Mithril mined can be sold or spent in social media which adopt them, and can be managed by both the users and social media managers using an application called Mithril Vault. The Vault provides statistics, product options and potential estimation of reward based on your popularity and features. Social media can set shops selling premium-like features, advertisement space or products.

In their whitepaper, they say that their first step to achieving their goal is to integrate Mithril into all major social networks. This is an awfully ambitious goal, but maybe more tangible in Asia. The founder of Mithril, popstar and web entrepreneur Jeffrey Huang, is also the name of 17 media, which is the number 1 “live content sharing app” in developed Asia. It’s actually the most popular app in Taiwan, Malaysia, Hong Kong, Singapore and Indonesia. As his projects have high reach in Asia, we can expect for the next years a wide adoption of Mithril integrated media there – but also a delayed, if it ever occurs, adoption in the West. Overall, It’s a really useful platform that can benefit both content creators and web influencers and the social media which adopt it.

They already launched an app called Lit – a story sharing app, like Snapchat or Instagram Stories. Lit is integrated with Mithril, thus popular stories are already rewarded with Mith there. Their Discover feature shows trending, friends of friends and other stories the app judges to be interesting to the user, based on their preferences and data collected. That’s basically how people will try to climb the web popularity latter there – and automatically earn tokens with it. Users will also be able to save stories from other people on their profile – which is where another marketplace can arise. As Huang easily did with 17 media, we don’t doubt he’s going to make his Lit app #1 again in Asia. Lit Beta was launched less than a month ago in the play store (the version for the app store launched 2 days ago) and seems to already have a growing user base. Most seem to be liking the app, both for its functionality as a story sharing app alternative and as a social mining tool.

Is Mithril a good investment?

Mith was actually the third best investment if you could have made in cryptocurrencies if you sold it up to 6 days ago until it began to start falling steadily. It saw a sudden rise in price again 2 days ago, probably related to Lit launching in the app store. It’s almost stable now, in a significantly better position than it was the first days. Mithril’s value will depend a lot on the Asian market adoption and the world’s belief in it, especially in relation to their partnerships with Asian social media, which is probably not going to happen so soon, but who knows?

And if Mithril really becomes a really widespread addon to social media, even in the West, should we expect a future somewhat similar to what Black Mirror’s Nosedive predicted, where everyone is hooked up on getting likes and being popular? This is a peculiar token.

We will be updating our subscribers as soon as we know more. For the latest on MITH, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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