The $50 million fund will support consumer-oriented meme projects with practical applications, like payment solutions.
By Chimamanda U. Martha
Edited by Julia Sakovich
Updated
3 mins read
Gate.io has introduced the MEME Gateway Grant, a $50 million initiative to bolster the adoption and growth of meme coins within its ecosystem.
According to an official press release dated December 6, the ecosystem fund was launched in partnership with major blockchain networks and their ecosystem funds to support creators, developers, and communities, transforming meme coins from viral internet sensations into practical financial assets.
The $50 million fund will support high-quality meme creators and developers who drive innovation in the ecosystem. According to the release, Gate.io will provide significant marketing and liquidity resources to the developers to scale their projects and help them gain visibility to succeed within the industry.
By fostering these creators, the MEME Gateway Grant seeks to position meme coins as more than entertainment, allowing them to transition into utility tokens with real-world practical applications. In particular, Gate.io aims to promote consumer-focused meme coins through innovative payment solutions and offline transaction channels. This effort seeks to integrate memes into daily life, making them accessible and useful in real-world scenarios.
Recognizing the importance of intellectual property (IP) in the meme coin sector, the exchange focuses on assets of cultural significance, such as Dogecoin DOGE $0.35 24h volatility: 3.0% Market cap: $51.81 B Vol. 24h: $1.49 B and Pepe coin PEPE $0.000015 24h volatility: 3.9% Market cap: $6.38 B Vol. 24h: $877.11 M .
“Memes represent not just viral content but also an emerging culture that resonates deeply with users worldwide. By fostering a healthy meme culture, Gate.io aims to build a vibrant and inclusive ecosystem,” the company said.
Gate.io views these assets as cultural icons that have bridged the gap between traditional internet users and the blockchain space. For example, Dogecoin, the largest meme IP globally, has become an entry point for many conventional internet users transitioning to blockchain technology.
Similarly, Pepe, known for its cultural resonance, holds the potential to shape the future of the Web3 ecosystem. Gate.io plans to support such projects further, solidifying their influence while creating new opportunities for meme coins to thrive.
As part of its broader efforts, the exchange has also introduced Gate Pilot, a program to refine the development and adoption of meme coins. The new initiative will offer targeted support for meme launchpads and traders.
Additionally, it will provide financial and marketing assistance, streamlined project evaluation, and robust listing processes to help developers.
In addition to financial growth, Gate Pilot integrates social responsibility by backing meme-related charitable projects. This approach highlights the potential of meme coins to drive positive societal impact while promoting a culture of community involvement.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
