In a riveting update for the NFT market, Meme.com, a platform pairing memes with tokens, is all set to launch its Beta version.
As a place for people to earn from the creation and curation of memes, the Meme.com team has been exploring the potential of NFTs for along with Marble Cards.
It is a way to develop and trade unique digital cards based on URLs. This time they have gone further by implementing the vision of tokenized memes.
How Does it Work?
Meme.com would serve as a platform for people to create, buy, and sell Meme tokens.
Memecoin ($MEM) will facilitate the process of creation and purchase. Creating a Meme token using a hashtag is easy.
Anyone can create it as long as the token remains unique and has not been developed already.
For the imminent Beta launch, there will only be seven Meme tokens. Named Genesis, these tokens will have their release over a couple of weeks in batches.
The community has already voted for these tokens, and they include the following:
This is Fine, Distracted Boyfriend, Wojak, Pepe, Hide the Pain Harold, KEK, and Doge. As you understand from their names, these are all popular memes in the cyberworld.
Holding or curating a Meme Token shows your trust in the potential of the meme.
The value derived from these Meme tokens, in the long run, will help support the process of best content curation by the community.
But, future value and a thriving meme community is not the only incentive. If you hold meme tokens, you qualify for diverse types of quests.
While the objective of a quest is to create value and encourage engagement around a meme, you can discover rare Meme.com NFTs when you complete a quest successfully.
With each quest completed, the difficulty level of the upcoming quests will increase.
The first quest in this Beta launch will only be considered completed when the Meme token attains enough volume of $MEM locked, combined with the number of holders.
Completion of this quest will lead to the unlocking of some enticing meme art by top NFT creators.
What is to Come?
Meme.com will also be a place to discover and share knowledge about memes.
The type of stories that you could share might include information on the origin of these memes, their popularity, and other speculative stories.
You might also share information on your knowledge of NFT activities.
The Investors’ Interest
As a platform, people have compared Meme.com as a place where Wikipedia meets Dogecoin.
The potential of the platform has raised interest among the investors as well. At the end of May 2021, the platform raised funding of US$5 million.
The list of investors included Outlier Ventures, Digital Finance Group, Morningstar, Blockhype, Spark Digital Capital, and more.
Angel investors Gabby Dizon, CEO of Altitude Games, and Polygon co-founder Sandeep Nailwal also backed the project with additional funding.