New Meme Coin ICO ‘Meme Kombat’ Aims to Be Next Pepe – Crypto Whales Are Buying Early
The crypto market has a new meme coin contender as the ongoing Meme Kombat token ICO is generating interest from early whales.
The project is an amalgamation of some of the most popular concepts in the cryptocurrency market – capitalizing on trends like meme coins, stake-to-earn, GambleFi and artificial intelligence.
The Meme Kombat presale has so far raised over $50,000 in just a few days since going live on September 21st.
The Crypto Whale Pumps community on Telegram, with over 25k subscribers, is hyped about the project, with its admin announcing that he has already made a sizable investment into it. He had previously praised Meme Kombat’s “massive” growth potential, highlighting features like its staking mechanism and the play-to-earn utility.
Similarly, popular crypto YouTuber Jacob Bury, who has over 22k subscribers and a strong track record of picking rare crypto gems, believes that $MK could have 100x potential after its launch.
New Meme Coin $MK’s Ecosystem
Bitcoin’s lack of upside in the past few months drove investors towards higher volatility crypto assets. Furthermore, Pepe’s extraordinary 10,000% rally in May of this year shocked the market, marking the onset of the “meme coin mania”.
In particular, meme tokens paying homage to famous fictional characters – such as Spongebob, Floki and Wojak – have seen tremendous success in recent times. Indeed, these characters have an established global fan following, which plays a crucial role in boosting the value of their respective tokens. Even Pepe’s meteoric rise had nothing more to it than the popularity of Pepe the Frog memes.
Now, Meme Kombat is leveraging the hype around all these successful meme tokens and rolling them into one blockbuster project. The platform will serve as a virtual battle arena and the characters representing various meme coins will engage in an unpredictable and AI-simulated battle, allowing users to wager on the outcome of the result.
The Season 1 of Meme Kombat – which starts immediately after the token’s launch – already features characters like Milady, Doge, Baby Doge, Floki, Kishu, Mong, Pepe, Sponge and Wojak.
The automated battles between the characters will utilize a combination of blockchain technology and artificial intelligence – the former ensuring transparency in the betting process and real-time updates, while the latter adding excitement through dynamic visualisation and randomized sequencing.
Combining multiple beloved characters into one token is a recent trend among new meme coins – tokens such as HarryPotterObamaSonic10Inu have adopted this formula, which led to tremendous success. HPOS10I managed to amass a $200 million market cap at its peak, even without the Play-to-Earn or staking utility offered by Meme Kombat.
Popular traders like Crypto Boy are bullish on $MK and are calling it one of the best new crypto gaming projects on the market.
Meme Kombat’s 112% APY, P2E Makes It The Perfect Token For The Bear Market
As already mentioned, everyone from crypto whales to YouTubers is high on Meme Kombat’s price potential. However, the bearish currents in the crypto market have led investors to find alternate sources of income, which is why $MK’s on-chain staking mechanism – which offers an APY of 112% – is gaining major traction.
Every purchase during the presale will automatically be staked and the buyers will start to accrue the rewards. Upon the completion of the ICO, the buyer will have two choices – they could restake their tokens for one 14-day long locking period and subsequently claim all the rewards accrued since the presale. Or, they could remove their tokens from the staking pool and forego their profits.
It goes without saying that the former strategy leads to the maximum benefits – however, the project gives investors the second choice to quell any fears regarding a potential rug pull.
Players staking their tokens after the network launch have the option to allocate a portion of their funds specifically towards betting. They can then bet against other competitors in live events, bet against the game itself, place wagers on specific characters or engage in side action betting.
30% of the entire $MK token supply has been allocated to staking and betting rewards, offering ample opportunity for players to beef up their returns.
Doxxed Team, Security Audit
The recent $41 million hack on the Ethereum-based Stake casino has put the spotlight on GambleFi ecosystems. To address these concerns head-on, the developer team behind the Meme Kombat project has adopted a revolutionary approach – they have disclosed the identities of all members involved in the project, including their founder Matt Whiteman.
Whiteman’s LinkedIn account has also been revealed, which allows investors to take a look into his track record and reach out to him in case of any major concerns. He has been the Chief Operations Officer of Phat Loot DeFi and the North Technologies B.V.
In a meme coin market filled with scam projects, revealing the fully doxxed team is an unprecedented but welcome move. In fact, even the team members behind the popular Pepe coin are anonymous, which led to the recent fiasco when its devs sold $15.8 million worth of $PEPE holdings and the community members could do nothing about it.
On the other hand, Meme Kombat’s move highlights the team’s community-centric and long-term intentions behind the project.
$MK’s staking utility also incentivizes investors to hold their tokens for long periods, which protects the meme coin from any pump-and-dump action after its launch. The use of blockchain technology – thanks to its immutability and decentralized nature – also brings transparency to the Play-to-Earn process.
Finally, the token smart contract has been audited by security company Coinsult, which found no major vulnerabilities or centralisation risks.
In short, Meme Kombat provides an immersive, scalable and secure gaming and crypto gambling experience, along with excellent meme coin potential. However, its presale has a hard cap of just $1 million – interested investors looking to get in early have a very short window to grab $MK tokens at a cheap price of $1.667.
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