Meme.com — Making a market for memes — to the moon
Care for some memes?
Memes are fun, and they are an integral part of the crypto world, where they are spontaneously created and shared on countless Telegram and Discord groups and Reddit threads. Many projects sponsor the creation of memes through contests which play a big part in their promotion.
A few weeks ago before the publication of this article, there was even a token based on a meme that reached a market cap of nearly $100 Billion. Initially created for fun, it has no utility. It is the perfect “meme coin”.
Whether you like them or not, memes are here to stay! They are now part of internet culture, and by extension, of pop culture. Now, have you ever wondered where some of them come from? Who Harold, Pepe or the Bogdanovs are? (as for the latter, imagine my surprise when I discovered they had become so popular as memes. I knew them as the anchormen of a SciFi TV show in France in the eighties during my childhood called “Temps X”. They looked, well, different than today!)
If you ever went as far as googling the origin of a meme, then you will probably be curious about Meme.com.
Capture the value of the trend
The idea behind Meme.com is quite simple: to create a meme market that will let you endorse your favorite memes and earn rewards if they are trending.
How does it work?
Let’s suppose you’re fond of the “Hide the Pain Harold” meme. You can buy some “mHarold” tokens on the market. These are mTokens, memetic assets that are in fact a synthetic asset for the trend.
Owning some mHarold tokens sure looks great, but is there any use to them? The Meme.com platform has made sure that users are incentivized to take part in the markets with rewards. But before going into detail about the rewards, we must first talk about Memecoin.
Any user can buy existing mTokens for a Meme that already has a market, but can also create a market for any meme that is not already on the platform.
The currency used on Meme.com is Memecoin, which can be bought with ETH or fiat using a credit card. For each trade, a small fee goes back to the “Meme fund” that will be used as a reward pool. There are several ways to earn on the platform:
- Staking rewards: when you buy mTokens with Memecoins and hold them, you are rewarded as if the Memecoins had been staked. Rewards will be given to long term holders of mTokens.
- Market making rewards: the platform will reward users with the highest trading volume.
- Quest rewards: there will be trading competitions on the different markets.
These three types of rewards are quite common, but in my opinion, the last one is what makes Meme.com a unique platform with a kind of “exploration game” feel to it.
- Trend finding rewards: users who mint mTokens for memes that have great success later on will get rewarded for spotting the trend early.
That means that if you spy a promising new meme during your daily browse, you can create the market for it by minting the first mTokens and then get rewarded if that market gets very active!
You can even get rewarded if you are the creator of the Meme.
I will write a quick review of the platform once it is launched.
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Telegram community channel: https://t.me/MemeExplorers
The article is for informational purposes only. It contains no financial advice. Always do your own research before investing in any crypto project.