What Is MEME.COM (MEM) And How Does It Work? | KuCoin Crypto Gem Observer

What Is MEME.COM (MEM) And How Does It Work? | KuCoin Crypto Gem Observer


Everybody loves a good meme. These shareable online image macros are now a staple of internet culture, being seen across many different websites and channels worldwide. However, what would happen if memes were to be curated onto a single website with a dedicated community of meme aficionados?

That is what the MEME.COM team hopes to offer with their MEM token.

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What is MEME.COM?

MEME.COM is a memetic protocol and platform where people explore different memes and trends on the internet. It was created to become the centre of meme culture, where users can create, share and monetize their memes.

MEME.COM developed marble cards, an NFT collectible based on a URL of a webpage, which is voted on by the community to identify trends in the market. This can then be applied to the meme market, where memes are converted to memetic assets, essentially synthetic assets, that can be bought and sold based on their perceived value or potential.

 

How Does MEME.COM Work?

One of the major products for the MEME.COM project is the Marble card, an Ethereum-based NFT. These are used to create collectibles tied to URLs, ultimately capturing internet moments. Only one card can be created per URL, making them a kind of a bookmark with built-in scarcity.

These cards can have different attributes, potentially affecting its value. For example, if it was amongst the first 33 created, then it would be a Genesis variety. Similarly, they are split into different generations based on when they were created.

Essentially, Marble is a gamification and curation layer that can run alongside the meme markets. The meme market is where people can create mematic assets, which can be made from any meme at the cost of some MEM.

These can then be bought and sold on the market. In this way, users can build their own portfolio of memes and support the original creators, while also earning rewards by supporting the best performing memes.

Markets are created for each meme, which earns the creator some mematic tokens, after which anyone can buy these mTokens. As it becomes more popular, the value of these mTokens increases. These can also be staked to earn rewards from a meme fund, which is funded by a percentage fee on each trade.

Staking also rewards in the form of meme art - another type of NFT. The more you stake and the longer you stake, the higher the chance is to get rare art.

 

Who Founded the Project

Mattias Tryberg and Johan Unger are the co-founders of the project. Mattias is a serial entrepreneur who has vast experience in the blockchain space. He now specializes in text analytics, predictive analysis, and blockchain.

Unger, on the other hand, is a software geek who specializes in Java, HTML, CSS, PHP, and SQL. Aside from MarbleCards, he has used his knowledge to establish and grow numerous startups. Qulart, Strossle, and WinR are some of the projects he co-founded. Unger has also been a board member at Noted Media for over 5 years.

At the start of the Meme project, Unger and Mattias built from scratch and funded the project from their personal cash flow for some time. They have successfully raised $5 million funding from investors like Blockhype, Spark Digital Capital, and Morning Star. The project also attracted angel investors like the CEO of Altitude Games, Gabby Dixon as well as the co-founder of Polygon, Sandeep Nailwal.

 

What is the MEM Token?

MEM is the native token for MEME.COM and all its products. The token distribution is as follows:

Ecosystem: 42.1%

Team & Founders: 25%

Seed: 9%

Strategic: 6%

Outlier Ventures: 6%

Public Sale: 5%

Advisors: 4%

Early investors: 2.9%

 

What is the MEM Token Used For?

MEM has numerous uses throughout the MEME.COM platform. They can be used to buy memetic tokens in the meme markets, which helps support the creator of the meme and allows you to collect meme art, among other things.

Another use case is for creating and upgrading Marble cards, non-fungible ERC-721 tokens in the form of digital cards that can be created from anything on the Internet. These guarantee ownership of each card.

On top of this, MEM is used as the payment method for platform fees like content submissions, staking and governance of the platform.

 

Closing Thoughts

Memes by their very nature are popular, and so a platform dedicated to creating, curating and proving ownership of them will naturally tap into this audience. Its use of NFTs should also prove popular as more people get onboard with the current trend. It is also worth mentioning the MEME.COM domain, which should make it easy to find or stumble upon for new users.

If the crypto market wants to achieve even greater adoption, platforms like this will likely play a big part in doing so. The concept is simple and takes a well-known product and then adds further value to it. If it plays its cards right, MEME.COM may well become the new place to view the latest, dankest memes.

 

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