Business News Report
January 04, 2024

Binance Labs Invests in MEME, Native Token of 9GAG’s Memeland

In Brief

Binance Labs today announced its investment in MEME, a Memecoin and native token associated with 9GAG’s Memeland.

Binance Labs Invests in Memecoin, Native Token of 9GAG's Memeland

Binance Labs, the venture capital and incubation arm of the cryptocurrency exchange Binance, today announced its investment in Memecoin (MEME). The native token is associated with Memeland, a Web3 venture studio with a focus on transforming SocialFi and creator economies.

Memeland aims to promote connections between creators and communities through its MEME token and NFTs, drawing inspiration from the internet meme culture.

Beyond its MEME tokens and NFT offerings, Memeland provides users with the opportunity to engage actively in the ecosystem through MEME Farming. It further plans to introduce various features and services to enhance user experiences and foster community involvement.

These upcoming features include the introduction of unique NFT staking mechanisms, allowing users to interact with the platform in novel ways. Memeland also plans to launch collaborative social networks, recognizing the importance of community interaction and collaboration. Additionally, the platform aims to offer liquid staking of Ethereum (ETH), providing users with increased flexibility and liquidity with their assets.

Further, Memeland is looking to transform into a fully decentralized, community-driven platform. Central to this vision is the Memeland DAO (Decentralized Autonomous Organization), where current NFT holders will have a major role in governance.

As an independent Web3 venture studio, Memeland is closely tied to the meme platform 9GAG, which registers a monthly audience of 200 million users worldwide. With over fifteen years of collective experience, the Memeland team is working to bring ownership to communities on a global scale.

Exploring the Unique Appeal of MEME Token

In November 2023, Ray Chan, the co-founder and CEO of 9GAG, a Hong Kong-based social media platform and meme graphic website, introduced 9GAG’s latest venture – a Web 3.0 creative studio named “Memeland.” Memeland isn’t just a regular creative studio. It sees itself as a “community company” that wants to create and invest in social stuff to bring creators and communities together.

It is important to note that Memecoin distinguishes itself from other cryptocurrencies by admitting its absence of practical use and financial potential. As outlined in its whitepaper, MEME is intentionally crafted solely for entertainment, devoid of any utility, intrinsic value, or assurance of financial gain.

This unconventional stance toward a digital token is evident in its positioning: it is not positioned as an investment tool, holds no monetary significance, and confers no customary rights linked with traditional financial instruments.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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