Update
Binance Boosts Memecoin (MEME) with Strategic Investment
ByJan 05 2024
Binance Labs, the venture capital and incubation arm affiliated with Binance, recently injected funding into Memecoin (MEME), the intrinsic token fueling the Memeland ecosystem.
Memeland, an independent Web3 venture studio associated with 9GAG, a widely-recognized meme platform boasting a monthly audience of 200 million users globally, is strategically dedicated to fostering SocialFi and creator economies. The primary objective is to foster connectivity between creators and communities by harnessing the expressive power of the MEME token and NFTs, deeply rooted in the vibrant culture of internet memes.
The dynamic team steering Memeland brings over fifteen years of expertise in crafting community-centric products, all driven by the overarching mission of empowering every community with a sense of ownership. Memeland, standing as a venture studio independently operating under the umbrella of 9GAG, seeks to chart new territories in the digital landscape.
In addition to the distinctive NFTs and MEME token offerings, Memeland presents innovative features such as MEME Farming, with a roadmap that unfolds plans for a spectrum of forthcoming services. These initiatives are designed to elevate user experiences and foster heightened community engagement.
Notable additions on the horizon include pioneering NFT staking mechanisms, collaborative social networks for community members, and the introduction of liquid staking for Ethereum (ETH). The long-term vision for Memeland encompasses a transformation into a fully-decentralized, community-driven platform, culminating in the governance of the Memeland DAO being entrusted to existing NFT holders.
About Memecoin (MEME), the native token underpinning Memeland's NFT ecosystem, it serves as the catalyst propelling the interconnected world of creators and communities. Functioning as the cornerstone of the independent Web3 venture studio affiliated with 9GAG, Memecoin embodies the essence of SocialFi and the creator economy, facilitating seamless connections through its MEME token and NFTs.
What is 9GAG?
9GAG is an entertainment website based in Hong Kong, centered around user-generated content. It allows users to upload and share content created by themselves or sourced from other online social platforms. Launched on April 11, 2008, the website reached a billion views by December 2011 and gained popularity across online social platforms like Facebook, Twitter, and Instagram.
Regularly updating articles, images, and videos related to trending current events, 9GAG presents a unique and humorous take on various topics. Recently, 9GAG has employed the use of adorable images of cats and dogs, effectively capturing the audience's affection and garnering positive feedback.
What is 9GAG's Memecoin?
Memecoin ($MEM) is an ERC-20-based cryptocurrency associated with the activities on the 9GAG network. The team behind 9GAG has introduced a token created within the Memeland ecosystem.
Related: Binance Announces Listing of BONK: Detailed Information on BONK Token
This entirely new meme token is reported to have sold over 11.4 billion tokens, as indicated by the Memecoin sales page, with the MEME token priced at $0.001 USD during the ongoing Firesale. A maximum of 6,942,000,000 tokens are available for Memecoin, with 95.8% allocated to the liquidity pool and 4.20% reserved for the multisig of the team.
While Memecoin holds the potential for substantial financial gains for investors, it also carries risks for those who fail to conduct thorough research before making a purchase. It is crucial to comprehend the potential hazards associated with buying or trading Memecoin to mitigate volatility and unforeseen losses. Understanding the inherent risks is essential to prevent unintended consequences for those engaging in Memecoin transactions.
