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Morpheus Labs Updates
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More and more firms want to transition from Web2 to Web3. However, this transition from Web2 to Web3 needs a careful approach. The philosophies behind each of these two Web versions are completely different. That’s why firms want to get the most out of this transition. There aren’t that many companies offering such a transition. However, Morpheus Labs is one of them.
So, let’s see what latest updates are happening at Morpheus Labs.
Scalability Is Key in Web3
Web3 projects need to be able to scale. There are three major options available.
- Layer 2 solutions — They offload transactions from the main chain. This increases throughput.
- Sharding — This offers parallel processing. It divides a network into smaller pieces. You can compare sharding to a busy store. When there’s only one cashier open, a queue will form. Once the store opens up more cashiers, the queue disappears.
- Off-chain computing — External computation reduces the on-chain load.
Morpheus Labs offers an end-to-end solution for this, SEED. This stands for Solution Environment for Enterprise Development. It allows devs to customize their development process. As a result, they can meet the specific needs of their projects. SEED offers a wide range of features to achieve this. For example,
- Collaborative Development Environment (CDE).
- Web3 Low-Code Development Tool.
- Web3 API Generator.
- Comprehensive Web3 APIs and SDKs.
Source: Morpheus Labs SEED
The Ambassador Drive Program
Morpheus Labs had a campaign running to find Ambassadors. An ambassador for a crypto project needs to be passionate about a project. Their goal is to promote, represent, and expand the network of a project. In general, you also share a passion for blockchain technology.
Morpheus Labs Ambassador Drive ran between 5th June and 20th June 2024. In total, Morpheus Labs received no less than 1,000 applications for their ambassador role. Currently, the reviewing process is in full swing.
Around 6 months ago, Morpheus Labs migrated their initial $MITX token to $MIND. Hence, they want a new and passionate ambassador group to promote their platform.
Thank you all for your overwhelming support and enthusiasm. We’ve received over 1,000+ applications for the $MIND Ambassador Program!
We’re now diving into the review process. Stay tuned for updates!
$MIND #Ambassadorprogram #CommunityPower #Web3 #MorpheusLabs… pic.twitter.com/yis1qJ0T8A
— Morpheus Labs (@morpheuslabs_io) July 4, 2024
New Partnership with aelf
Strategic partnerships can strengthen blockchain projects. For instance, both projects can enhance their respective features. Hence, Morpheus Labs partnered with aelf. This is a high-performance Layer 1 blockchain network. It offers, for example,
- Multichain parallel-processing.
- Cross-chain communication for unlimited scalability.
The integration of Morpheus Labs’ AI-driven Web3 development tools is at the center of this collaboration. Both teams want to drive Web3 innovation with AI-powered tools. They specifically look at Web3 gaming.
Morpheus Labs can bring the following tools to the table.
- AI-powered Smart Contract Studio.
- Web3 Workflow Studio.
- Their upcoming Web Studio.
Aelf offers an AI-enhanced blockchain architecture. The combination with Morpheus Labs will help to speed up app development. To celebrate this event, there was a $500 giveaway between 4th and 18th June.
Thrilled to announce our strategic partnership with @morpheuslabs_io to bring AI-powered tools to the #Web3 space! Get ready for some groundbreaking innovation as we take another significant step forward in our pivot to an #AI-integrated #blockchain!
To celebrate this… pic.twitter.com/nitWj2t8j0
— ælf (@aelfblockchain) June 4, 2024
New Partnership with ICP Hub Singapore
Morpheus Labs had another partnership in the pipeline. This with ICP Hub Singapore. This is part of the Olympus Accelerator Program. Both teams want to innovate and speed up blockchain tech adoption in three countries. They’re targeting Singapore, Malaysia, and Japan.
The Olympus Accelerator has a $15 million fund. It’s funded by the DFINITY Foundation. It partners with startups and projects across various categories. The accelerator offers resources, mentorship, and funding. This should further their development and market entry.
Excited to advance #Web3 adoption with our AI-powered, low-code solutions! Together with #ICP Hub Singapore @icphub_SG and @dfinity in the Olympus Accelerator Programme, we’re onboarding groundbreaking projects, enhancing institutional adoption, and unlocking blockchain’s… pic.twitter.com/oC7Pa162Rp
— Morpheus Labs (@morpheuslabs_io) May 30, 2024
Conclusion
Morpheus Labs is a key player in transitioning Web2 firms into Web3. We looked into its most recent updates. These included, among others, their SEED feature, their ambassador program and two partnerships.
The current $MIND price is $0.001997. Its marker cap is $2.6 million. There’s a max and total supply of 2.1 billion $MIND. Out of these, 1.3 billion already circulate.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Morpheus Labs.
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