I think the MCO team (or crypto.com team or whatever) just aren't across how a lot of people think in crypto.
The $26 million in funds they received was to deliver a particular project. Instead of using those funds to deliver that project, they (at least partially) used those funds to develop a different project, and are on-selling this new project CRO tokens, and giving MCO investors a small slice.
I get that they are selling those CRO tokens to develop CRO, but the timing is just awkward when only a handful of people in Singapore have cards. At least wait until a large group of people have cards, before redirecting efforts to a new project using ICO funds.
We know there are lots of thoughts around Crypto.com Chain. Just want to share that the team is committed to a global rollout of our MCO Visa Cards and there are no changes on our roadmap, and as equally important - the MCO token utility remains the same.
The Crypto.com Chain will allow Crypto.com Wallet users to pay with any crypto, anywhere, for free. This is groundbreaking and improves the value proposition and usability of Crypto.com products. This is also currently a critically missing piece of infrastructure and is 100% in line with our mission to accelerate the world's transition to cryptocurrency.
The team is looking to build something great that will impact the entire industry. We understand the market is not doing well right now, but we don't stop just because the market is down. We will continue to focus and work on shipping cards, improving the app, adding new features; and now building Chain.
I know you say that the roadmap is unchanged, but it is probably on about its fourth iteration, so I don't hold much stock in a commitment to stick to a roadmap since the company is so willing to change it!
On your point about MCO utility - it only has any utility if you have cards. Right now that is a handful of people in Singapore.
I'm sure the Crypto chain could be great - my point is just that the company keeps misreading the community and overstates how close they are to meeting objectives, and then is surprised that people are annoyed (and price MCO at $2 usd). I mean, cards aren't out there in bulk - how did you think the community would react to hear that you're spending funds on a different project instead of what was in your original (and new) roadmap? Reminds me of the asset contract removal debacle from about a year ago.
Seriously, if you haven't delivered on your core commitment of cards, then why do you think people are sceptical that you'll deliver Crypto chain that has a 5-10 year delivery horizon by your own estimation?
I'd strongly suggest waiting on a meaningful distribution of cards before promoting all the great side projects you've got going on, which are presumably funded by the ICO that was meant to deliver crypto cards.
