These days, I struggle to find crypto token to write about. The bear market is not looking up and consequently things are seemingly dull and lacking energy. In all of this however, there’s a token crypto mainstream is not talking about, no one is talking about it but thousands of people are googling the hell out of it. The name of this token is Movez coin. I accidentally bumped into it while looking for a project to check out.
In this article, we will be reviewing movez, as to find out whether the token is a worthy investment destination or whether it is another dressed up scam.
So, If you are curious about like I am, or you are a potential investor just getting to know about the token, or maybe you are holding the token, already (this demography is usually very sensitive. Try to read the review with an open mind). Before we get into reviewing movez, we first need to establish an understandding.
“I’m not a banker or a financial expert, I don’t even consider myself a crypto ‘expert’ (whatever that means). I will not be held responsible for your financial decision. Crypto investments are high-risk, high-reward ventures. This article is just a guide, consider it alternative entertainment.”
What is MoveZ Crypto?
According to coinmarketcap, MoveZ brings the next generation of fitness combined with Web3 technology! MoveZ offers a unique earn capability that encourages users around the globe to embrace a healthier lifestyle and give new meaning to “”move-to-earn”” with NFT boosters and loads of other feature. The token sort of reminds me of stepn (gmt) in that the unique value proposition is it’s move to earn function. MoveZ has seen remarkable growth since it launch less than a month ago. Over that time, the token has latched on various Centralized exchanges, which is always a good thing to see. Let’s go on to check out movez’s website.
MoveZ’s website is absolutely well made. It is unlike many crypto website out there. The style is unique and the team behind it look like total professional. The website description begins by encouraging potential investors or visitors to participate in physical activities and and earn reward.
Through the website, we find out that the project already has launched its app on Google play store, even as it hasn’t gone commercial yet.
Most of the website points briefly towards the very nature of MoveZ token. Let go on to review the light paper.
MoveZ Token’s Litepaper
MoveZ crypto’s lite paper is on a web based platform. According to the whitepaper, “MoveZ is based on a common everyday activity for most people: moving. We are the first team to create and implement a sustainable, working Move-to-Earn (M2E) model. By simply moving, jogging, walking, running, and swimming indoors and outdoors, users will earn IN-APP currency, which can either be donated to numerous charity organizations or cashed out for profit. MoveZ’s earn capability intends to incentivize tens of millions of people around the globe toward a healthier lifestyle, introducing them to how revolutionary the web3 can and will be, all while relying on its social elements and simple UI to develop a long-lasting platform encouraging user-generated Web 3.0 content.”
The platform uses two types of tokens. The first one is the In-App Token called $BURNZ, whilst the second is the Governance Token called $MOVEZ. MOVEZ’s mission is not only to change thing in the fitness industry by encouraging more people to improve their health, but also shift profits away from platform owners to platform users through a unique decentralized platform.
With moves, unlike stepn, there’s ZERO BARRIERS TO ENTRY. To participate in MOVEZ’s move-to-earn ecosystem, users do not need to own NFT assets. Instead, they may either start by being invited by friends, or stake to be in the third tier, which will allow them to begin earning.
MoveZ On Tokensniffer
Tokensniffer rates this movez crypto poor. Out of 100% It scores 0% on the platform. This 0% score is a measure of how well the token contract and characteristics meet the criteria for safety. This goes to show that the token doesn’t satisfy tokensniffer’s assessment by any metric. In fact, the token is a bag of red flags. These red flags are,
1. Movez contract contains ownership functionality and ownership is not renounced this may allow the creator or current owner to modify contract behavior (for example: disable selling, change fees, or mint new tokens). There can be legitimate reasons for not renouncing ownership, check with the project team for such information.
2. Movez source code contains a fee a function that can set a maxiumum transaction amount. This means that, the contract can stop an investor from selling, if they perceive that an investor is selling too much. If you think about it, it makes sense of the survival of the coin, but it doesn’t make sense if you are an investor and you find yourself in that circumstance.
3. There are whales in the movez ecosystem. This usually doesn’t mean well for small time investors, as the token will become susceptible to price manipulations and dumps.
Developers Behind Movez Crypto
Usually, tokens like movez have a doxxed dev team. However, movez doesn’t have one, this is a red flag. A project that the developers have chosen to go faceless cannot be completely trusted.
What People are saying about MoveZ
On YouTube, few investors appear to be skeptical about the project because of the numerous red flags around the project.
Some however, have aped in, hoping for the token will become the best thing.
Is Movez token a good investment?
No. I do not think the coin is a good one. The red flags, as we pointed out are too many. Asides the very beautiful website and the app that is on play store, there are only negatives in this project.