Is MBD Financials (MBD) a Good Investment?
The metaverse has become one of the hottest trends in cryptocurrency with a new metaverse project popping up seemingly every few days. It’s difficult to find a good project with so many projects out there. One metaverse that has received quite a bit of attention over the past few months is MBD Financials. This is a planned photorealistic metaverse on the Binance Smart Chain.
Unfortunately, MBD Financial has mostly fallen flat as the project has failed to deliver a “photorealistic metaverse.” With that in mind, this article will explain what MBD Financials, some of the problems we have with it, and whether or not MBD is a good investment.
What is MBD Financials (MBD)?
As mentioned earlier, MBD Financials is a metaverse project on the Binance Smart Chain. The project plans to launch a photorealistic metaverse that will allow individuals to engage in business activities and decentralized finance.
The project claims that its metaverse will offer financial services and since it’s on the metaverse there will be no need for government issued IDs to participate. As if there are people in the United States and Europe that do not have a government issued ID, but that’s beside the point.
It also claims that it will offer financial settlements and bookkeeping. We can see the general idea of financial settlements, but how exactly is a photorealistic metaverse going to offer “bookkeeping”?
It really looks like the author of the whitepaper just threw buzzwords on the services page.
Other services offered include real estate, healthcare, trade finance, entertainment, and an NFT marketplace.
And that’s all the whitepaper really discusses about what the project will offer – just a lot of buzzwords with next to no depth about how this metaverse will actually implement anything.
Our Problems with MBD Financials
We have a lot of problems with MBD Financials. Most of these problems relate to the whitepaper and rather large scope of this project alongside the very dubious leadership of the project.
Who is The Founder of MBD Financials?
The first problem we have with this project, and it’s a major problem, relates to the founder of MBD Financials. The founder and CEO is a Swedish man named Fred Dahl. However, Dahl does not attach a face to his LinkedIn profile nor to his picture on the MBD Financials website.
Here’s a screenshot from the “Our Team” page on their website:
Why is Dahl not placing a headshot on his profile?
We find that strange. However, we will let it pass as the rest of the core team have headshots and LinkedIn profiles that look legitimate.
One interesting thing to point out is that Dahl and May Mahboob, the co-founder and President of MBD Financials are also co-founders of a company that allegedly produces VR headsets called TechWaze XR.
The website for TechWaze XR is currently down. The Twitter profile for TechWaze XR only has 62 followers.
We find it somewhat suspicious, but since the website is down we cannot say for certain whether anything bad is actually occurring.
Still, it’s not a good look for the so-called experts at MBD Financials.
Vague, Buzzword Filled Whitepaper
Another part of this project that we strongly dislike is the whitepaper.
We will not beat around the bush here – the whitepaper is truly awful.
Here’s a screenshot of a section titled “Building the MBD Metaverse”:
First of all, nothing in this section actually describes how the team plans on building the MBD metaverse. This section just talks about some of the use cases for the metaverse.
Second of all, this is the worst explanation of use cases we have seen. The author simply states a buzzword and says that the MBD metaverse can do it.
This is clear with bookkeeping. How exactly is a metaverse going to offer bookkeeping?
A blockchain can keep track of records well, but it is not offering bookkeeping. It makes zero sense and shows that the author of the whitepaper has a very limited understanding of the blockchain and accounting.
It’s also apparent that they have next to no understanding about any of these industries when they include healthcare in the services offered. There are so many patient privacy laws relating to medical records that it’s extremely unlikely that a healthcare company will choose to store medical records on a metaverse project on the Binance Smart Chain.
It’s such a ridiculous statement that it’s almost humorous.
Large Project Scope
Another issue we have is that this project has an extremely large project scope. The plan appears to be to launch a photorealistic metaverse, which is a massive undertaking in itself. But they also want to launch an NFT marketplace, healthcare storage, real estate, financial trading, bookkeeping (whatever that even means), and more financial services.
That’s a tremendous undertaking and one that requires significant professional experience to even have a chance of success.
The team does not appear well equipped to enter any of those industries. They do not have any healthcare experts on the team for one, so the chances of entering the medical record storage industry are next to none.
All their team members appear to have technology or marketing experience. We do not see any financial experts in the team. It seems improbable that the team has the expertise to even enter the financial industry.
Is a Photorealistic Metaverse Necessary For This Project?
Our final problem is that this project is allegedly a photorealistic metaverse project, but is a photorealistic metaverse necessary for any of the points listed in the project.
We don’t think so.
How is a photorealistic metaverse necessary for storing medical records, an NFT marketplace, and a financial marketplace?
The team claims that it’s more interesting than text based alternatives. We somewhat agree with that, but how exactly will it be implemented to make it interesting?
That would be an excellent point to include in the whitepaper. Unfortunately, the MBD Financials whitepaper is a horrible whitepaper that explains next to nothing about the project, so something important like that is not included.
Is MBD Financial a Good Investment?
No, this project is not a good investment. The team has shown that they do not have the ability or will to launch a viable project. This was pretty apparent from the whitepaper’s lack of explaining anything useful about the project or the plan moving forward with the project.
We will not call this project a scam, but it’s obvious that this project will never become successful. They have not launched any product at the time of writing and the price of the token has already crashed.
That’s the price chart of MBD. It’s also the price chart of a project that has seen some success before losing the interest of the public due to missed deadlines and broken promises.
To summarize, MBD Financials is a project that makes a lot of big promises and has a large scope. But the failure of the project to deliver on any of its promises combined with the massive scope of this project make it one cryptocurrency project that you should avoid.