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Marshall Inu

Topic: Finance

 From HandWiki - Reading time: 6 min
Short description: Decentralized cryptocurrency


Marshall Inu
The Marshall Inu logo.png
Ticker symbolMRI
Development
Initial releaseFebruary 2022; 2 years ago (2022-02)[1]
Development statusActive
Developer(s)Bryce Paul[2]
Websitehttps://www.marshallinu.com
Ledger
Supply limit1 billion MRI
Valuation
Market capUS$ 9 million

Marshall Inu token (ticker: MRI) is a cryptocurrency launched in February 2022 by a crypto developer using the pseudonymous Bryce Paul.[2] Marshall Inu is a cryptocurrency project that first started as a satirical token named after Marshall, the Golden retriever of Ultimate Fighting Championship commentator Joe Rogan and Shiba Inu. Marshall Inu has been characterized as a meme coin, however, it has grown into a community project that is helping mixed martial arts athletes.[1][3]

Technology

Marshall Inu is an ERC-20 token on the Ethereum blockchain[4] as well as a BSC token on Binance Smart Chain.[5]

History

In February, Marshall Inu added ESPN analyst and former UFC fighter Chael Sonnen as one of their ambassadors.[6] Sonnen showed gratitude towards Marshall Inu for helping MMA fighters.[7]

On 4 March, 2022, Marshall Inu briefly reached a peak of $0.199/token putting its total market capitalization near USD 200 million.[8]

On March 11, 2022, a total of USD $800,000 has been given to MMA fighters worldwide including USD $25,000 to Ian Heinisch for medical treatment.[9]

On 12 March, 2022, Marshall Inu announced their partnership with Legacy Fighting Alliance declaring that every fighter on the card will receive a bonus win or lose at LFA 126 in Brazil.[10]

On 1 April, 2022, the MRI officially changed its name from Marshall Rogan Inu to Marshall Inu, citing potential liability and confusion with Joe Rogan's involvement in the project. Marshal Inu is independent and have no association with Rogan.[11]

On 27 May, 2022, Marshall Inu jumped nearly 70% in value in 24 hours, after announcing it was removing its buy-tax in perpetuity.[12]

On May 16, 2022, Lethwei World Champion Dave Leduc announced that he joined the Marshall Inu project as their newest ambassador.[13] Leduc started accepting the MRI token on his personal merch website.[14]

Joe Rogan confusion and name change

Joe Rogan has a dog named Marshall Mae Rogan which has a fanbase with over 782,000 on Instagram followers.[15] The admins originally named the project Marshall Rogan Inu, however they received feedback that some people thought that $MRI was associated with Joe Rogan.[8] The confusion with Joe Rogan's endorsement and the potential liability eventually led the admins to remove Rogan from the name, maintaining no association with Rogan. Despite distancing from him, the Marshall Inu team has expressed willingness to appear as guests on The Joe Rogan Experience.[11]

UFC 272 exposure

On March 5, 2022, at UFC 272, one of the biggest stories of the night was the cryptocurrency being thanked in almost every post-fight victory speeches.[8][16] Marshall Inu sponsored 20 out of 26 fighters featured on the card,[17] including both main event fighters Colby Covington and Jorge Masvidal.[10] Each fighters were paid thousands of dollars for mentioning the token, and two fighters received $25,000 each in bonuses.[9] With advertisers paying millions of dollars for UFC airtime, MMA experts deemed the marketing stunt very unlikely to be reproduced again.[18]

The event took place during the 2022 Russian invasion of Ukraine, Ukrainian UFC flyweight fighter Maryna Moroz faced and defeated her opponent Mariya Agapova. Considering she was fighting a fighter of Russian origin, fight fans were eagerly awaiting her post-fight speech. However, in the midst of moment, Moroz took the mic from Joe Rogan and thanked Marshall Rogan Inu.[19]

Fighters pay dispute

Marshall Inu impacted the way MMA fighters are being paid. The organization has help mitigate UFC fighter's pay dispute by awarding fighters monetary sponsorships.[20][9] As of June 2022, Marshall Inu has distributed over USD 5 million to approximately 200 athletes.[13]

Medical treatment

In March 2022, Marshall Inu granted UFC Middleweight fighter Ian Heinisch with the funds for his $25,000 stem-cell surgery in Mexico,[17] which is not currently legal in the United States.[21][10]

UFC Middleweight Kelvin Gastelum was scheduled to fight at UFC 273, but was forced out due to a knee injury.[22] Marshall Inu assisted Gastelum financially following his meniscus surgery.[23]

The cryptocurrency is in preliminary discussion to help fund the Department of Neurology at the Cleveland Clinic that specializes in treating head injuries that are commonly present in MMA fighters.[24][25]

Criticism

Marshall Inu's origin as a "meme coin" has made it difficult to be taken seriously by mainstream media and financial experts in early days. Since its inception, the project has been in fact distributing cash, Ethereum or its native MRI token to fighters.[8]

Former UFC and ONE Championship fighter Ben Askren has talked about the price fluctuations of the token as well as suggesting it of being a pump and dump.[26]

See also

References

  1. ↑ 1.0 1.1 Amaury Reynolds (23 March 2022). "MRI: The First of Its Kind To Support MMA Fighters, Lists on Coinstore.com!". https://cryptomode.com/mri-the-first-of-its-kind-to-support-mma-fighters-lists-on-coinstore-com. 
  2. ↑ 2.0 2.1 "Interview With Marshall Rogan Inu Lead Developer, Bryce Paul". Audio Boom. 7 April 2022. https://audioboom.com/posts/8062643-the-secret-to-standing-out-in-a-crowded-market-interview-with-marshall-rogan-inu-lead-developer. 
  3. ↑ "LBank Exchange Will List Marshall Rogan Inu (MRI) on March 14, 2022". 11 March 2022. https://finance.yahoo.com/news/lbank-exchange-list-marshall-rogan-184500205.html?. 
  4. ↑ "Marshall Rogan Inu". https://coinmarketcap.com/currencies/marshall-rogan-inu/. Retrieved 22 June 2022. 
  5. ↑ Goalorious. "Marshall Inu Launched on BSC Today Fighting for the Fighters". https://www.youtube.com/watch?v=BeQopFG2ET0. Retrieved 4 May 2022. 
  6. ↑ "Money follows attention – Marshall Rogan Inu". Wicz. 7 March 2022. https://www.wicz.com/story/46018191/money-follows-attention-marshall-rogan-inu. 
  7. ↑ "Chael Sonnen shows gratitude towards Marshall Rogan Inu, a cryptocurrency named after Joe Rogan's dog, for helping MMA fighters". Bitsmart US. 4 March 2022. https://www.bitsmart.us/cryptocurrency/chael-sonnen-shows-gratitude-towards-marshall-rogan-inu-a-cryptocurrency-named-after-joe-rogans-dog-for-helping-mma-fighters. 
  8. ↑ 8.0 8.1 8.2 8.3 "The MMA Cryptocurrency That Fighters Love". Financhill. 15 February 2022. https://financhill.com/blog/investing/is-marshall-rogan-inu-legit. 
  9. ↑ 9.0 9.1 9.2 A.J. Perez (11 March 2022). "The Meme Coin That's Paid Out Over $800K to MMA Fighters". Front Office Sports. https://frontofficesports.com/the-meme-coin-thats-paid-out-over-800k-to-mma-fighters. 
  10. ↑ 10.0 10.1 10.2 LW (12 March 2022). "Marshall Rogan Inu: Joe Rogan pet dog's cryptocurrency paying UFC fighters". Marca. https://www.marca.com/en/ufc/2022/03/13/622d55dae2704e4d1d8b45cb.html. 
  11. ↑ 11.0 11.1 "Marshall comes back to the crypto market with its exclusive Rebranding". Digital Journal. 12 March 2022. https://www.digitaljournal.com/pr/marshall-comes-back-to-the-crypto-market-with-its-exclusive-rebranding. 
  12. ↑ "Buy Tax removed 0% forever". 27 May 2022. https://twitter.com/marshallinu_/status/1530167889856430080?s=20&t=BNhJPgli2HlDnJVc1w3jsg. 
  13. ↑ 13.0 13.1 Karishhma Mago (8 June 2022). "Marshall Inu Scores World Champion Fighter Dave Leduc As Ambassador". Forbes Monaco. https://forbes.mc/article/marshall-inu-scores-world-champion-fighter-dave-leduc-as-ambassador. 
  14. ↑ "Marshall Inu — expanding utility". Medium. 9 June 2022. https://marshallinu.medium.com/marshall-inu-expanding-utility-dce7b0723cb0. 
  15. ↑ "Paulo Costa uses social media stardom to promote meme competition with $2k prize". Calf Kicker. 29 May 2022. https://calfkicker.com/paulo-costa-uses-social-media-stardom-to-promote-meme-competition-with-2k-prize. 
  16. ↑ Chael Sonnen (17 March 2022). "The story behind everyone thanking Marshall Rogan Inu at UFC 272...". https://www.youtube.com/watch?v=FwRrVCdHUzk. 
  17. ↑ 17.0 17.1 Violette Laurent (13 March 2022). "UFC: Marshall Rogan Inu: la crypto-monnaie du chien de compagnie Joe Rogan paie les combattants de l'UFC". Tech Tribune. https://fr.techtribune.net/blockchain/crypto/ufc-marshall-rogan-inu-la-crypto-monnaie-du-chien-de-compagnie-joe-rogan-paie-les-combattants-de-lufc/269078/. 
  18. ↑ "MMA twitter reacts to Marshall Rogan Inu coin sponsoring everyone". Calf Kicker. 6 March 2022. https://calfkicker.com/mma-twitter-reacts-to-marshall-rogan-inu-coin-sponsoring-everyone/. 
  19. ↑ "What’s the Marshall Rogan Inu coin?". Calf Kicker. 6 March 2022. https://calfkicker.com/whats-the-marshall-rogan-inu-coin/. 
  20. ↑ Makoa Goble (28 April 2022). "What’s the Best MMA Fighter Sponsor of 2022 So Far?". https://www.overtimeheroics.net/2022/04/28/best-mma-fighter-sponsor-of-2022. 
  21. ↑ Deepak Kumar (13 March 2022). "Marshall Rogan Inu, Joe Rogan-Inspired Cryptocurrency, Donated UFC Fighter Ian Heinisch for $25,000 Medical Procedure". Essentially Sports. https://www.essentiallysports.com/ufc-mma-news-marshall-rogan-inu-joe-rogan-inspired-cryptocurrency-donated-ufc-fighter-ian-heinisch-for-25000-medical-procedure/. 
  22. ↑ Aiden Broomfield (23 April 2022). "Kelvin Gastelum labels scheduled surgery "a success"; prepares to step back into the octagon soon". Sports Keeda. https://www.sportskeeda.com/mma/news-kelvin-gastelum-speaks-successful-surgery-comeback. 
  23. ↑ Apratim Banerjee (31 May 2022). ""Stepped up in a huge way" - Kelvin Gastelum thanks Marshall Inu for providing financial assistance; shares knee injury update". Sports Keeda. https://www.sportskeeda.com/amp/mma/news-stepped-huge-way-kelvin-gastelum-thanks-marshall-inu-providing-financial-assistance-shares-knee-injury-update. 
  24. ↑ "The Success Story of Dog Coin MRI (Marshall Rogan Inu): An Inspiration to Many". LA Progressive. 30 March 2022. https://www.laprogressive.com/sponsored/dog-coin-mri. 
  25. ↑ Rodney Holmes (13 March 2022). "Albank Exchange Marshall Rogan Inu". Cryptosaurus. https://cryptosaurus.tech/albank-exchange-marshall-rogan-inu/. 
  26. ↑ "Ben Askren trashes Joe Rogan-Inspired crypto Marshall Rogan Inu after 30% price drop". Calf Kicker. 10 March 2022. https://calfkicker.com/ben-askren-trashes-joe-rogan-inspired-crypto-marshall-rogan-inu-after-30-price-drop/. 

External links



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