Rumor has it that MetaMask, the most popular Ethereum browser wallet, could be getting close to releasing its very own token.
The CEO of ConsenSys, Joseph Lubin, declared:
“There is a DAO that is being formed right now in the context of MetaMask. It won’t govern MetaMask, but it will enable the creation of novel new pieces of MetaMask to be funded.”
The comment was made during an interview at Ethereal where Lubin actually confirmed that MetaMask does plan to launch a token.
No details are currently known regarding the mechanism that would be used, but it would represent one of the biggest airdrops ever since MetaMask has over 30 million users.
Currently, it records around $1 million a day from swap fees. Revenue also comes from the fiat to crypto partners it has.
Still, based on only swap fees, once a token is launched, it can get to be valued at around $3 billion based on 10x revenue – in this case, the revenue is approximated at around $300 million a year.
This represents more than half of the current valuation of ConsenSys which these days managed to raise $450 million and increase its valuation at $7 billion.
Speaking of rumors, some say that MetaMask equity has sold to JP Morgan in secret and that shareholders are now working on voiding that speculated deal.
Releasing a token would disperse rumors since MetaMask would become a publicly owned platform in which users are given the chance to make decisions such as if they want to IP ban Russia.