Binance Labs has recently announced that they have invested in Memecoin (MEME), the native coin of Memeland. Memland’s primary focus is SocialFi and creator economies. Its main goal is to unite creators and communities using the MEME token and NFTs, capitalizing on connecting creators and communities.
Before Binance Labs’ investment in MEME, the crypto was featured as Binance Launchpool’s 39th project in October 2023. Binance Launchpool is a platform that allows users to stake their Binance Coin (BNB), TUSD, and FDUSD in distinct pools for a 30-day farming adventure, earning MEME tokens as rewards.
On October 28, 2023, Binance officially kickstarted this Launchpool, providing enthusiasts with the opportunity to earn MEME as a reward for staking their assets. A significant pool of 1,380,000,000 MEME tokens was allocated for rewarding – almost 2% of the total token supply.
In April 2022, Memeland started as its own Web3 venture studio linked to 9GAG, a popular meme platform reaching 200 million users monthly worldwide. The team at Memeland has more than fifteen years of experience crafting products for communities. They’re committed to empowering communities globally by giving them ownership.
Back in April, Memeland launched its web3 venture studio linked to 9GA, the largest meme community on the internet with over 200 million users monthly worldwide. The team behind Memeland has over fifteen years of experience building community-based products with the mission of bringing ownership to every community in the world.
Aside from NFTs and Meme tokens, Memeland also offers Meme Farming, a platform for little works, to then harvest later. There are potential features and services to enhance user experiences for the Memeland community. Some of these include the NFT staking mechanism, social networks for community members to collaborate, and liquid staking of ETH.
The long-term vision is for Memeland to transform into a fully decentralised community-driven platform, where current NFT holders will have access to govern the Memeland DAO (Decentralized Autonomous Organisation).
MEME Crypto Token Jumps 8% Following Binance Labs Investment
Just after the announcement, MEME crypto prices rose by 8%, which went down within a few minutes. However, the MEME crypto price rose again by 15.80% to $0.02709 on Thursday, January 4, 2023.
The crypto’s market cap decreased by 2.70% to $243.16 million. However, there was a surge in demand for MEME crypto as its 24-hour trade volume skyrocketed by an impressive 352.19%, reaching $268.29 million.
Memeland had previously announced $10 million in commitments for the token sale and is planning airdrops and a firesale for MEME to boost investor interest amidst the coin’s volatility. The token is predicted to reach $0.1 from a firesale price of $0.001.
