Binance’s venture capital arm has purchased MEME tokens from the creators of 9 GAG

The amount of investment of the venture capital arm of the exchange in the asset is not disclosed

04.01.2024 - 12:10

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What’s new? The venture capital arm of crypto exchange Binance has purchased Memecoin (MEME), the native tokens of the Web 3.0 ecosystem Memeland from the creators of entertainment platform 9GAG with a monthly audience of 200 million people. Memeland also supports non-fungible tokens (NFTs) and offers a lucrative MEME farming program. In the future, the developers intend to integrate NFT staking and liquid staking of native coins of the Ethereum blockchain.

Press release

What else is known? Memeland is also a venture studio focused on developing the SocialFi segment and connecting the community in its NFT ecosystem using the MEME native token. The team behind Memeland has over fifteen years of experience building community-oriented products.

The ultimate goal of the developers is to form a decentralized platform managed by Memeland’s community of NFT owners. The amount of Binance Labs’ investment in the project is not disclosed.

As of January 4, 11:50 UTC, MEME occupies the 218th line of the cryptocurrency ranking with a capitalization of $226,29 million and is trading at $0,02508338, having lost 9.],6% over the day.

Earlier, Binance listed the token of the Web3 AI-based platform for creating NFPrompt (NFP) content, which participated in the sixth incubation program of the venture capital arm.

In November, Binance Labs purchased native tokens of the analytical blockchain platform Arkham Intelligence (ARKM), after which the asset’s price jumped by 46% in 24 hours.

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