Machi, the new project by Jeffrey Huang, is giving more details on its launch. The token is available for an open-ended presale aimed at raising $5M in liquidity.
Machi Big Brother, the social media persona of serial investor Jeffrey Huang, revealed more details on his next project. The Machi token is now open for registration, aiming to raise $5M in an open-ended event.Â
The new Machi project still has not created a token, a rarity in a space where token generation happens fast. The project will use the Blast blockchain, one of the niche L2 networks that expanded in 2024.Â
The project immediately drew in high-profile buyers, with claims that supporters have a value of up to $125M. The inflow of high-net-worth crypto buyers recalls previous projects in which Jeffrey Huang was involved. Those projects also connected to influential whales and other high-profile investors.Â
The Machi project, however, claims to offer a fair presale based on registrations. There are special allocations for Ape NFT holders, which may still be unfair to crypto beginners. Additionally, Machi Big Brother first reached out to a handful of projects for early placement.Â
The Machi project is not a classic presale. It’s an Initial Baseline Value bootstrapping event. The liquidity will be required to form the first pools on the Baseline DEX, part of the Blast ecosystem. The announcement of the presale on Thursday led to an inflow of signups, causing a rate limit on the DeBank service.Â
So far, the Machi project depends mostly on hype. The fundraising model is different from that of previous projects supported by Machi Big Brother. The Friend.tech project relied on an airdrop and an investor-led seed round. The project founder also warns everyone to only use official links and avoid any claims that a token has already been created.Â
The Blast network expanded in 2024, reaching more than $800M in value locked. At this size, the chain outcompetes even Toncoin and other smaller networks. Baseline Markets is an emerging liquidity hub, and Machi will serve to market the platform and secure its first pools.
Machi Big Brother has criticized other meme token projects, especially those with a rug pull and insider holdings. The goal for the new Machi token will be to lock up its liquidity and have smart contract assurance against rug pulls.Â
Less than 12 hours since launch and we've hit $100M+
Higher https://t.co/rpXvZFLbp9 pic.twitter.com/V6k85H2V7j
— MACHI (@MachidotXYZ) August 30, 2024
Machi Big Brother copies Vitalik Buterin
The launch of the Machi token recalled Vitalik Buterin’s vision for crypto. The new token claims to follow the rule of building tools, not empires. Yet the Machi token community aims to influence by connecting to other platforms and projects.Â
Machi has reached out to Blast, Yes Money, Fantasy.Top, BobbaOpa and the BAYC club of NFT holders. YOLO token holders from Yolo Games are also invited to participate early. Machi Big Brother has spent more than 168K ETH in building up his NFT collection. While holding those NFTs, he has remained in contact with the respective communities, and aims to tap them for liquidity.Â
But most notably, Machi is also open for pre-registration to former Friend.tech holders. The crypto social media, which aimed to monetize follower counts, unraveled when retail buyers refused to buy the growing amount of Key tokens.Â
Machi Big Brother also got involved with Friend.tech decentralized trading in the past month as a final attempt to save the sinking project. The known Machi Big Brother Ethereum wallet now holds a long list of obscure tokens, with a valuation of around $450K.Â
The Machi Big Brother portfolio with all NFT collections is also estimated at 1.04K ETH. Machi Big Brother also completed two sales for relatively rare BAYC NFT.
The big wealth stash of Machi Big Brother is in the form of BAYC NFTs, as well as MAYC avatars. The NFTs wallet contains more than 95% high-liquidity, high-value NFTs for a total of 1,452 items. The wallet also contains 293 items from the DeFi Apes collection.
Machi Big Brother has also sold four Apes in the past week to other high-value investors. The BAYC and MAYC collections are a big part of the new Machi token aesthetic and serve to tap former NFT communities. Â
Cryptopolitan reporting by Hristina Vasileva
