Hi Guys,
New to this site, but a regular in the Monaco slack! I just came on to say how excited I am for the coming months with Monaco. We've had a tough period with delays, but everyone now gets the sense that something big is around the corner - the future is looking very very bright! In terms of the actual product I am more than confident that Monaco is going to be in a different league to the current competition in the crypto-space:
- They will have better exchange rates
- Significantly higher cashback on the platinum cards
- A premium metal card (also free remember - its only a loan of Tokens)
- An on app exchange at perfect interbank exchange rates
- A quick and easy way to buy into BTC for newcomers to crypto (perfectly timed as BTC becomes more mainstream)
- More features to come (expecting airport lounges etc)
With such a desirable product (the cards and packaging are simply beautiful) the demand for the platinum metal cards will drive the token price alone. This will be THE card to have if you're in the crypto-space.
Reduced supply & increased demand = exponential growth
Afterall, remember that there are only 9million MCO in circulation! Based on current numbers of reservations (now at 27,000), the CEO mentioned that over 1.5million of these tokens are due to be locked-up. Upon Europe rollout and mass marketing kicking in, the supply of Monaco is going to be drastically reduced! It is for this reason that I am 100% sure dynamic pricing for the cards will be implemented by the Monaco team in order to account for a rising Monaco price. It is something that the community have passionately requested and it clearly seems to have been listened to based on the recent Q&A's.
There have been plenty of other suggestions for a replacement asset contract too and we all eagerly await what direction Monaco will take in this regard. I was however, very happy to hear the CEO mention that the community will be consulted on this. There are other idea's put on the table that could bring real utility to the token too and the CEO has been keen to look into them. For example, we know that they like the idea of a 'reward upgrade scheme' on the blue cards whereby these cards receive MCO cashback too, but it is only redeemed when upgrading to a platinum card. Why would this be good for MCO holders? Well, it would provide an incentive to people holding the blue card to upgrade and lock up the required tokens for the ruby card. However, it would also lock-up additional tokens on a longer term basis for those that continue to hold the blue card. Other increased utility idea's have included cheaper prices or greater MCO cashback when spending MCO. Increased utility of the token like this will only serve to drive the demand for it. Lets see what directions they decide to take!
So, when can we expect positive price movement? Its difficult to predict given that Monaco are now implementing a 'no comment on dates' approach. However, in my opinion there are a few key drivers that will seriously drive the price in the near term (Dec/Jan expected for many):
- A product feature...who know's what this may be? I'm personally hoping for airport lounges!
- Listing on at least 3 new exchanges (The announcement that this is happening was in the last Q&A)
- Making of Monaco video - building excitement to see the card and app in action hopefully...
- Green Light for Europe Rollout - This will be HUGE news as it is where most of Monaco's reservations are
- Green Light for Japan Rollout - This will be a HUGE market when word gets out! Some publications have already started the attention.
- Card Beta Test - HUGE news as it will be the first batch of people reviewing the card, sharing on social media etc.
- Influencer marketing. We now know that Monaco will be shipping cards to the crypto review guys for review. This will put Monaco in the spotlight in the crypto community and hopefully beyond. The CEO also mentioned Marketing Airdrops?
- Card Rollout and Token Lock-up!!! This is the biggie. Why? With tokens starting to get locked up, the price will see consistent highs. People will be buying and locking up. Sell pressure will be dramatically reduced.
Longer term, there is plenty more to look forward to:
- Firstly there's the TWO big announcements that Monaco has up their sleeve. Kris stated that these were bigger than the Visa Program Manager approval which is a pretty big deal. This is something he has been very excited about from the start and has mentioned several times in interviews.
- Credit Card status. Again, something that has been mentioned on the roadmap for next year
- Banking partnership in the USA for US rollout...coming next year
- Further global rollout
Monaco really do have a great vision for this project and slowly but surely we're starting to see that come to life... These are very exciting times to be a MCO holder - scoop them up whilst you can!