Everyone in the crypto community naturally loves the bull market. It brings new interest in crypto ecosystem. These new people get fascinated by how suddenly they can make a 30%+ return on their capital in a matter of couple of days. The old people in the ecosystem start to close their positions and reap profits from their previous investments.

Everyone makes money (alteast on paper), and everyone is happy!

But we are a little different. We like to see ourselves as builders in the crypto ecosystem rather than investors. We are in it for the technology! We have previously built a crypto exchange named KoinOK (www.koinok.com) and it was now time for us to navigate the crypto ecosystem more deeply and build new products.

We feel it’s better to launch during the bear market than in the bull market. During the bull market, even adding “blockchain” to a company name can boost company’s share price by 20%. We all know this is a manifestation of irrational exuberance for a new technology. All around such noise, the one with more resources gains more attention than the best quality projects. For a project like ours, it would have been difficult to capture the imagination of crypto enthusiasts when everyone is more interested in making money and there are several scammy ICO projects with large budgets to divert attention. On the other hand, only “quality” can survive in the bear market.

Masmic is essentially a bet on an idea. An idea that blockchain technology can also be used to create “meritocratic” social network using crypto’s ability to enable micro-transactions. We felt that its second order effect by opening a way to “own crypto by earning crypto” would make positive contributions to the growth of crypto ecosystem and bring new interest in the ecosystem without depending on the hype involved with a bull market.

A bear market doesn’t affects us in a major way.

We wanted to work on a crypto idea which could enable global users to organize and cooperate in a way which is truly disruptive, i.e., something which is not possible in the non-blockchain world. Micropayments and smart contracts are new innovations brought about through crypto ecosystem, and Masmic wouldn’t be possible without these two forces.