John McAfee, anti-virus and cyber security pioneer, will be releasing the McAfee Redemption Unit (MRU), his very own physical cryptocurrency.
The release was announced via Twitter and was later confirmed by McAfee himself in an interview with Crypto-News India. This physical cryptocurrency is a different and separate project from the McAfee Coin that launched last year.
While the physical aspect of this currency may have critics claim that the MRU is not technically a cryptocurrency, McAfee’s crypto will have a blockchain component to it.
The notes will come in seven denominations from 1 to 500 MRUs. Four of the seven denominations feature McAfee while the other three will feature Bitmain founder Jihan Wu, Bitcoin Cash promoter Roger Ver and crypto enthusiast Brock Pierce.
According to McAfee, 341,000 MRU notes have already been printed making for a total circulation of 6,050,000 MRU.
The initial face value of an MRU is $9.95 or around Php 521.00
Each MRU can be redeemed for one minute with McAfee, in the flesh. But redemption was intentionally made difficult. One can only redeem their McAfee meet-up in Mexico, during a two-hour window only. Upon redemption, one would be given a certain time, date, and location (only in the United States) for the meet-up. One may only redeem up to 100 MRUs at a time.
“Redemption is purposely made very expensive. My followers are hugely loyal and I feel certain that many will go through time and huge expense for the opportunity to spend private time with me,” says McAfee.
“See what this might do to the fundamental value of each redemption unit. If the value of a unit is based even remotely on the cost of redemption, which people are willing to pay, then the notes will immediately skyrocket.”