Jeffrey Huang’s social media identity, Machi Big Brother, has announced the presale of his latest venture, aiming to raise $5 million in liquidity. The presale for the Machi token is now open for registration, offering a unique opportunity for crypto investors.
Presale details and project overview
The Machi token presale is set to raise $5 million through an open-ended event, a strategic move that aligns with Jeffrey Huang’s previous ventures. Unlike typical token launches that generate tokens swiftly, the Machi project has yet to create its token. This approach is unusual in the fast-paced crypto world, where token generation often happens quickly. The project plans to utilize the Blast blockchain, a Layer 2 network that has gained traction in 2024.
The presale has attracted significant attention from high-profile buyers, with reports suggesting that supporters hold assets valued at up to $125 million. This interest echoes Jeffrey Huang’s history of engaging influential investors in his projects. Despite this, the Machi project is positioning itself as a fair presale, particularly targeting Ape NFT holders, although some argue that this could disadvantage new crypto participants.
Unique fundraising approach
The Machi presale is not a traditional token launch but an Initial Baseline Value (IBV) bootstrapping event. The funds raised will provide liquidity for the first pools on the Baseline DEX, an integral part of the Blast ecosystem. The announcement has already led to a surge in signups, causing the DeBank service to experience a rate limit.
The Machi project heavily relies on its hype-driven fundraising model, differing from other projects supported by Machi Big Brother, such as the Friend. The tech project utilized an airdrop and a seed round led by investors. Jeffrey Huang has advised potential investors to use only official links and be cautious of claims suggesting the token has already been created.
Influential connections and NFT involvement
Machi Big Brother has connections with several notable platforms and communities, including Blast, Yes Money, and Fantasy. Top, BobbaOpa, and the Bored Ape Yacht Club (BAYC) NFT holders. Additionally, YOLO token holders from Yolo Games are invited to participate early.
Huang has invested more than 168,000 ETH in building his NFT collection and remains actively involved with these communities. His extensive portfolio includes BAYC and MAYC NFTs, central to the new Machi token’s identity. This involvement with the NFT community aims to secure liquidity and market the platform effectively.
Furthermore, the Machi project has extended pre-registration to former Friends. Tech holders are a platform that has unraveled due to retail buyers’ reluctance to purchase the increasing number of key tokens. Despite this, Machi Big Brother’s Ethereum wallet still holds a range of obscure tokens valued at approximately $450,000.
Prospects and market position
The Machi project’s approach contrasts sharply with other meme tokens, which often suffer from rug pulls and insider holdings. The Machi token aims to establish secure liquidity with smart contracts designed to prevent rug pulls. The project has received a positive response, with significant interest from high-value investors in the BAYC and MAYC collections.
The Machi token presale marks a critical step in the Blast network’s expansion. In 2024, it reached over $800 million in value locked, surpassing smaller networks like Toncoin. As the project progresses, its influence in the crypto space will be closely watched by investors and enthusiasts alike.