What is Memecoin (MEME)? Memeland project overview

The material is not an investment recommendation and is published for informational purposes only

Memeland is a Web 3.0 platform focused on non-fungible tokens (NFTs) dedicated to memes. The project also offers a profitable Memecoin (MEME) native token farming program.

The project was launched in 2022 by 9GAG, a meme and news-sharing platform with a monthly audience of 200 million people based in Hong Kong. It combines memes from 9GAG and a community centered around NFT. NFT owners can join a decentralized autonomous organization (DAO) that manages Memeland.

The project was launched in 2022 by 9GAG, a meme and news-sharing platform with a monthly audience of 200 million people based in Hong Kong. It combines memes from 9GAG with a community centered around NFTs. NFT owners can join the decentralized autonomous organization (DAO) that runs Memeland.

Eventually, there are plans to move to a metaverse to expand Memeland’s economy. According to project manager Ray Chan, “the Memeland goal is to create collections based on micro NFT trends and allow creators to control their own NFTs.” “Through Memeland, users can change and evolve their NFTs to create something truly unique,” the manager states.

Memeland ecosystem

The Memeland ecosystem centers on three NFT collections, You The Real MVP, The Potatoz, and The Captainz. Users use NFTs to participate in quests and earn rewards.

You The Real MVP

Launched in June 2022, includes 420 NFTs in the form of gold trophies and is considered the platform’s most premium collection. NFT holders receive a number of benefits, including:

• Early access to Memeland information and upcoming events
• Access to the private chat
• Opportunity to participate in real-world events

The Potatoz

This is the second collection to include 9999 NFTs. It pays homage to the long tradition of ending long posts on the 9GAG website with an image of a potato with the caption, “sorry for the long post, here’s a potato.”

As it evolves, The Potatoz gradually takes on more traits and characters inspired by other iconic 9GAG memes and pop culture. Users can also stake NFTs for benefits such as priority on future drops and the ability to earn cryptocurrency.

The Captainz

The third collection with 9999 NFTs. The Captainz provides many benefits beyond its value as an investment. These NFTs allow people to join the Memeland DAO to manage the platform. By owning The Captainz, one can decide on the allocation of funds from the project’s treasury, choose its partners, and introduce governance rules. In the future, Memeland promises, The Captainz owners will have a special place in the metaverse.

Memeland’s NFTs can be purchased on such trading platforms as LooksRare, Rarible, OpenSea, and X2Y2.

What is Memecoin?

MEME is an ERC-20 standard token based on the Ethereum blockchain, launched on November 3, 2023. Its release and airdrop on the same day were accompanied by a wave of enthusiasm due to 9GAG’s strong position on the internet as a pioneer of meme culture. 17 250 000 000 MEME tokens (25% of the total supply) were distributed to Memeland’s NFT holders.

“There is no roadmap and there is no promise or expectation that any ecosystem will even be developed for MEME. MEME is completely useless and for entertainment purposes only,” the white paper of the project says.

The total MEME token supply is 69 billion, and the coins are organized into seven key categories, each of which adheres to a specific unlocking schedule. This approach should ensure the long-term sustainability of the project and inject enough initial liquidity to keep the momentum going. Coins will be distributed as follows:

• 30% — ecosystem development;
• 17% — contributors;
• 12% — private investors;
• 11% — community members;
• 25% — airdrops;
• 3% — advisors and engaged experts;
• 2% — Binance Launchpool.

In early 2024, the venture capital arm of crypto exchange Binance purchased Memecoin, but the amount invested in the project was not disclosed.

In the same month, Memeland announced payments to participants of the MEME farming program. The developers said that 4 million accounts joined the revenue program.

MEME advantages

• Distribution for stability. MEME’s distribution strategy spans across categories, ensuring stability and sustainable project growth.
• Tokenomics. MEME’s fixed supply of 69 billion tokens and various unlocking schedules also contribute to long-term sustainability.
• ERC-20 standard on Ethereum. MEME operates as an ERC-20 standard token on the Ethereum blockchain, providing traders with a familiar and widely supported infrastructure.
• Security Assurance. Rigorous security audits conducted by third-party companies, including SlowMist, confirm the integrity of MEME’s smart contracts.
• Community-centered approach. MEME emphasizes community engagement, providing benefits to developers and participants in various stages of the project.

Where to buy MEME?

The AVEO derivatives platform was the first to list MEME. Currently, the coin is also traded on the Gate, OKX, Bybit, Mexc, Binance, and KuCoin crypto exchanges. To purchase MEME, you need to create an account, pass verification, and deposit funds on the chosen platform.

You can also consider decentralized exchanges (DEXs) such as Uniswap, Sushiswap, and PancakeSwap. You should always use secure and trusted wallets. MEME supports wallets such as MetaMask, TokenPocket, Assure Wallet, OKX Wallet, and Binance Wallet.

As of January 24, MEME ranks 221st in the cryptocurrency ranking by market capitalization with a figure of $210 million and is trading at $0,02272, having added 5,2% overnight.

Is it worth buying Memelland NFT?

While Memeland, like other meme projects, does not have a product or innovative technology at its core that can change the blockchain space, it does have some upsides and differentiators.

Memeland’s humorous, community-oriented approach will not be to everyone’s taste, but it is likely to be very popular in a certain niche.

Additionally, the project is backed by some of the most famous people in the community. Not only is it led by 9GAG founder Ray Chan, but also by well-known investors. The project is funded by 9GAG itself, as well as Moonbirds founder Kevin Rose and VeeFriends creator and CEO Gary Vaynerchuk.