Matrix - ICO Review

It has been more than ten years since Bitcoin was invented and launched. While at first, nobody really paid any attention to it, the situation started to change rather quickly, and only a few years later, Bitcoin had started a new trend over which it still dominates today.

The concept of cryptocurrencies is still extremely fascinating to many to this very day, as they rose from nothing to some of the most valuable assets in the world. BTC itself took eight years to have each of its coins valued at $20,000 per piece, and while its price has fallen significantly after that — no one has forgotten its potential.

The evolution of cryptocurrencies was rapid, and it never stopped in the past ten and a half years. Back in 2015, that evolution took a turn with the invention of Ethereum, which shifted the attention from cryptocurrency to blockchain. Countless new use cases emerged from that shift, and crypto/blockchain potential for business emerged as well.

However, the entire crypto community is well aware of the fact that this is not the last big change in the crypto space. The evolution did not stop, and cryptocurrencies and blockchain technology are still quite far away from their final form. This evolution continues through new projects, and one particular project called Matrix is what interests us today.

About Matrix

While digital currencies did come a long way over the course of the past decade, there is no denying that numerous issues have yet to be resolved. Cryptocurrencies are still quite far from perfection, and some key challenges that are preventing them from taking the next step still remain. One such challenge includes slow transaction speeds. The lack of security and programming barriers of smart contracts are also a problem in need of addressing.

Not to mention the inflexibility when it comes to updating and managing blockchain itself. These are the issues that need to be solved in order for the industry to take the next step in its evolution, and that is what Matrix wants to address.

Matrix aims to do this by leveraging the newest AI technology, with the belief that AI is the key to unlocking the full potential of blockchain and crypto. The fusion of blockchain and artificial tech might lead to a complete revolution of digital currency. The AI would be able to boost transaction speeds, improve security, fend off malicious attacks, provide more flexibility to the blockchain, and offer superior accessibility to general users.

But, in order to go down this path, Matrix needed its own cryptocurrency, which is why it launched it back in 2018.

Matrix ICO details

As mentioned, Matrix's token was already launched back in 2018, right at the start of the bear market. Unfortunately, not a lot is known about this ICO, which is interesting, considering that this was at the peak of the ICO token sale model.

We do know that the token's ticker is MAN and that it did manage to survive the crypto winter, although it is currently ranked relatively low, at the 276th spot on CoinMarketCap's list of largest cryptocurrencies by market cap.

We also know that this is a utility and that it was developed on Ethereum's platform. The project had its preICO from January 6th, 2018 to January 16th. The ICO followed immediately afterward, from January 16th to February 15th, 2018. The token's price during the ICO was 0.36, and it managed to raise approximately $54 million.

The project itself was registered in Hong Kong, and the token currently has a price of $0.064387, which is significantly lower than its ICO price.

Author: Ali Raza for

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StartJanuary 16, 2018
EndFebruary 15, 2018

Obviously, we cannot exactly say that the project was incredibly successful following its ICO. However, it is worth pointing out that AI development is an incredibly challenging field, which manages to evade even the brightest scientific minds of this age.

cyphrium   September 5, 2019  

Matrix itself has a pretty interesting vision, which may or may not end up being realized. Many believe that the issues troubling the crypto space could be reached even without the AI, while many others see AI as the ultimate solution to most problems, in and out of the crypto space. The AI clearly holds as much potential as blockchain ever did, and more. But, combining the two technologies might actually be the key to unlocking both.

yellowbird   April 16, 2019  

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