Binance Labs, the VC arm of the exchange, has invested in a new crypto dedicated to enhancing social interactions

New investments for Binance

Binance, through its dedicated VC arm Binance Labs, announced that it has invested in Memecoin (MEME), the native token of the Memeland ecosystem, as well as the main tool through which the project's objective is conveyed, that is, to enhance (and monetize) the social interactions of all users participating in the ecosystem through “meme culture” and NFTs.

Memeland was in turn born from the popular meme platform 9GAG, in a mix of professionalism between development team and community, which is why the team behind it already boasts several years of experience in the sector, having contributed to the creation of "community" content and worked towards attestation of “ownership” of digital assets via blockchain.

The ecosystem offers various possibilities for operating through the token and NFTs, but also presents other solutions such as MEME Farming, and aims to integrate more and more DeFi products, such as NFT staking, social dApps and liquid staking. Indeed, the latter is seen as an essential tool for involving the community.

New opportunities in Web3

The final goal, for Memeland, would therefore be to become a totally decentralized platform, in which the community and its members can decide on governance developments using the same tools offered by the ecosystem within Memeland DAO.

There is also talk, in other words, of the creation of a "creator economy", which can connect users active in the production of content in a community supported by memes and NFTs. Or at least, this is the goal of 9GAG and the reason for its investments in Web3 and throughout the SocialFi sector.