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First founded in 2008, 9GAG was one of the earliest proponents of internet meme culture. At its peak, the site had over 70 million monthly visitors sharing silly photos and videos. Unlike many other early forms of social media, 9GAG has managed to pivot its early success in a surprising new direction, and is now dedicated to moving into the web3 era. They’ve invested a lot of funds into Memeland, a revolutionary new project they hope will combine their past success with technological advancements. Keep reading to discover all the details about this new enterprise.
Key Takeaways:
Memeland is a web3 platform primarily centered around meme-themed NFTs. The project is funded by 9GAG, and operated by 9GAG CEO Ray Chan. It combines meme-like aspects from 9GAG with a community centered around NFTs. NFT holders can join the decentralized autonomous organization (DAO) that governs Memeland and decide how the platform is run.
Memeland is somewhat similar to other social media NFT projects, such as Reddit NFT. However, Memeland stands out due to its unique approach. While Reddit NFT solely produces NFTs based on Reddit avatars, Memeland has more diversity and depth.
The NFTs on Memeland are part of a riveting storyline and lore, with plans to eventually transition to a metaverse to expand the Memeland economy. Moreover, according to Chan, the Memeland goal is to create collections based on micro NFT trends and allow creators to control their own NFTs. Through Memeland, users can change and evolve their NFTs to create something truly unique.
Memeland currently offers three different sets of NFTs. Each collection has its own purpose, theme and price point.
You the Real MVP is the alpha-tier Memeland NFT collection, consisting of 420 gold trophies. Owning one guarantees entry into the Memeland Discord MVP lounge and IRL events. It also allows you to network with many other collectors, creators and entrepreneurs, and MVP holders get insider knowledge about future Memeland releases, such as upcoming Memeland drops.
With so many perks available, these NFTs come with a fairly high price tag. When they were first released via blind auction, the initial price for each NFT was 5.3 ETH.
The Potatoz NFT collection pays homage to the longtime tradition of ending lengthy meme posts with a picture of a potato that says, "Sorry for the long post, here's a potato." This Memeland collection includes a large number of free-mint NFTs. On Jul 20, 2022, 9,999 Potatoz were dropped to community members, who could evolve them through six different stages.
As they evolve, Potatoz gradually develop more traits and personalities inspired by other iconic 9GAG memes and pop culture. Users can also stake their Potatoz for benefits, such as priority on future drops and possibly earning crypto in the future.
The Captainz are the utility-enabled Memeland NFTs. The company released 9,999 NFTs on Jan 4, 2023. The Captainz are the mid-tier choice from Memeland's NFT collections. They're less rare than MVPs, but more valuable than the Potatoz.
The Captainz provide a lot of value beyond their worth as an investment. These NFTs let people join the Memeland DAO to govern the platform. If you own a Captainz NFT, you can help make decisions about the treasury, choose partnerships and enact governance rules. In the future, Memeland promises Captainz holders will have a special place in their metaverse.
Memecoin (MEME) is an ERC-20 token launched on Nov 3, 2023. It is currently priced at $0.00198 (Nov 7, 2023). It has no utility tied to it and is exactly as its name suggests, a meme coin with zero use case. Yet, its release and airdrop on the same day were accompanied by a wave of enthusiasm due to 9GAG’s stronghold over the internet as the pioneer of meme culture. 17,250,000,000 MEME tokens (25% of the maximum supply) were airdropped to reward all Memeland NFT holders.
MEME has a maximum supply of 60 billion, distributed as follows:
You can buy MEME as a Spot pair (MEME/USDT) or a Perpetual Contract (MEMEUSDT) on Bybit. MEME can also be traded via Spot Grid Bot.
From Nov 3 to Nov 16, you’ll also stand to earn from a 30,000 USDT prize pool! There are two simple steps to be a part of this exciting competition. First, sign up on Bybit. Second, deposit at least 100 USDT worth of MEME or buy at least 100 USDT worth of MEME for your first spot trade.
If you're going to invest in any meme-related NFT, this is the project to invest in. Though Memeland's humorous, community-centered approach won't be for everyone, it's likely to be very popular with a certain niche. Furthermore, the project is backed by some of the biggest names in the community. Not only is it led by 9GAG founder Ray Chan, but it's also attracted notable investors. The project's funding comes from 9GAG itself along with Moonbirds founder Kevin Rose and VeeFriends CEO and creator Gary Vaynerchuk.
In the months since the Memeland DAO and NFT collections were launched, Memeland has witnessed impressive growth. For example, The Captainz has quickly shot up to join the ranks of blue-chip NFTs like Bored Ape Yacht Club and CryptoPunks. The Captainz currently sits at sixth place with a current floor price of $8.44k (as of Nov 7, 2023).
With a robust community, vital funds going into development and founders who genuinely understand internet culture, Memeland has the potential to produce a whole portfolio of blue-chip NFTs.
Though there's some inherent risk associated with any NFT project, the Memeland ecosystem is one of the most stable and thought-out platforms on the market. As long as you use wise investment strategies and avoid overextending yourself, Memeland NFTs are worth buying.
The Memeland ecosystem is primed to expand in the near future. Its site has been heavily hinting at some new projects that will provide extra potential for users. Meanwhile, the platform plans to go beyond NFT generation and provide a suite of SocialFi projects that will combine social networking with decentralized finance (DeFi).
One of the most highly anticipated new projects is MEME, recently launched in November 2023. The next upcoming project is Treasure Islandz, a metaverse project filled with exciting stories and locations. Given that 9GAG is behind the project, users can expect a lot of hilarious pop culture references. Another project to watch for in the future is Stakeland, a staking protocol that will extend Memeland’s current staking mechanisms behind the Potatoz's evolution.
With so many upcoming projects, the future is looking bright for Memeland as it continues to expand its community and provide more appealing investment opportunities.
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