The Meme ICO began today. What does this token offer?
Meme launched its ICO on the Polkastarter platform today. This platform uses entertainment and crypto to measure the value of internet content. It also enables users to mint memetic coins, which are priced based on the perceived value of the meme or trend they represent.
Furthermore, the community crowdsources content around each meme, and the best memes each month receive rewards, such as special NFT art and collectibles. The company wants to incentivize the community to create and contribute to a specific meme. Thus, it allows customers to stake coins on the platform.
Meme.com has announced recently that it planned to launch its IDO on Polygon via its new integration with Polkastarter. Polygon and Meme.com have a long history, in fact, their partnership goes back all the way to 2019.
As a POS-Plasma chain scalability solution, Polygon provides scalable, secure, and instant transactions. It also leverages developer platforms and blockchain scaling, thus improving user experience and complex decentralized transactions. Currently, the platform focuses on taking blockchain technology to the mainstream. Meme.com launched its native token $MEM to empower its ecosystem by encompassing the various functions.
Meme.com has managed to raise $5 million
The platform has raised $5 million from blockchain-focused venture capital funds, such as Digital Finance Group, Outlier Ventures, Blockhype, Morningstar, Spark Digital Capital, and other investors.
According to the firm, over a dozen investors contributed to the round, and additional funding came from angel investors, the CEO of Altitude Games, Gabby Dizon, and Polygon co-founder Sandeep Nailwal.
Memecoins like non-fungible tokens (NFTs) and dogecoin skyrocketed in popularity in recent months. Considering such a trend, the company decided to bridge the two markets and unite them.
Investors can mint tokens based on the perceived value of the meme they represent, while others can stake the tokens.
Joanna Liang, head of investment at Digital Finance Group, noted that the company believes memes and meme markets are a promising and innovative way to empower people who find or create trends.
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