What Is Memecoin (MEME)?

In an ecosystem flooded with meme coins, one stands out due to the track record of its creators in the entertainment industry: Memecoin (MEME), a crypto token created by the team behind 9GAG, the popular humor website based in Hong Kong.

This token is unique in the cryptocurrency landscape for openly declaring that it has no practical use, roadmap, or financial return expectations. According to its creators, the purpose of MEME is solely for entertainment and the expression of meme culture within the blockchain context.

In this guide, we will thoroughly explain everything you need to know about Memecoin (MEME), including its origins and creation, features and functionality, its connection with the Memeland ecosystem, and what to consider if you want to be part of this innovative project.

What Is Memecoin (MEME)?

Memecoin (MEME) is a crypto token created by the team behind 9GAG, the popular humor website based in Hong Kong, with a monthly audience of 200 million people and a strong social media presence. This token is distinguished by its unconventional approach in the cryptocurrency world.

According to the project’s website, MEME has no practical utility, roadmap, promises, or financial return expectations. It is essentially a token dedicated to entertainment and meme culture. This unique characteristic sets MEME apart from other tokens, as it does not present itself as a traditional investment with intrinsic value but rather as an experiment in meme culture and the Web3 community.

Even Memecoin’s whitepaper highlights this approach by stating the following:

“MEME has no functions, no utility and no intrinsic value, no promise or expectation of any financial return, profit, interest or dividend, […] MEME is completely useless and for entertainment purposes only.”

Learn more about meme coins and the principles of their functioning in the dedicated Introduction to Meme Coins and Understanding Meme Coin Basics guides.

Origin of Memecoin

On November 3, 2023, MEME was officially launched in Memeland. This event was preceded by a prominent farming campaign that garnered significant social media attention and a listing on Binance Launchpool in October 2023. The launch was a resounding success: the initial sale sold out in just 40 minutes and raised $10 million in the first hour.

Since its launch, MEME has enjoyed considerable success, largely due to its NFT collections, which ranked among the top 10 globally with over 20,000 holders, establishing Memeland as the top NFT brand in Asia.

What Is Memeland?

Memeland is an innovative Web3 venture studio with the mission of empowering global communities. This project focuses on creating and investing in social products that foster community engagement, creativity, memes, and NFTs.

The story of Memeland and Memecoin dates back to 2021. Following the success of 9GAG, its co-founder Ray Chan and his team decided to launch Memeland as a natural extension of their experience in building online communities and viral content.

The main focus of Memeland is to develop socialFi and creator economies, connecting meme creators and their communities through the project’s native token MEME. It is important to note that MEME is described as ‘literally a meme coin’.

Memeland Ecosystem

The Memeland ecosystem consists of several interconnected NFT collections and a native token, designed to offer utility and value to its holders within a growing Web3-centered community.

The first collection launched by Memeland was “You The Real MVP”, featuring 420 golden and sparkling pixel trophies. These exclusive NFTs, which have often sold for over 60 ETH, provide their holders access to an elite network of collectors, creators, and crypto professionals. The holders enjoy benefits such as whitelist spots for future releases, free NFTs, and increased utility for other Memeland products, including higher yields in MEME staking.

In July 2022, the project launched its next collection, “The Potatoz”, which was a free mint of 9,999 pixelated potato-based NFTs inspired by 9GAG meme culture. “The Potatoz” provided guaranteed whitelist access to its Captainz collection at a minimum price close to 1.5 ETH. Additionally, they can be used for non-custodial staking and feature a multi-stage reveal mechanism.

Finally, we have “The Captainz” collection, consisting of 9,999 anime-style PFPs that can evolve over time. These NFTs represent a higher level of membership within the Memeland community and offer unique features such as customization through so-called traitablez.

In addition to the collections, we must mention the MEME token, which offers significant benefits to Memeland NFT holders, including priority access to the token’s presale and farming opportunities. Collectors can also send their tokens on missions (staking) to acquire valuable resources exchangeable for more MEME.

MEME Tokenomics and Distribution

Memecoin has a total supply of 69,000,000,000 tokens. The initial token distribution was structured as follows:

• Airdrop: 17,250,000,000 tokens (25%) were distributed in MVP/Captainz/Potatoz holders airdrop and burned maps and valuables.
• Community presale. As many as 7,590,000,000 tokens (11%) were distributed for MVP/Captainz/Potatoz holders and in waitlist user sales.
• Ecosystem. 20,700,000,000 tokens (30%) Treasury was allocated to grow Memeland.
• Private sale. 8,280,000,000 tokens (12%) went to external Investors and Super Crew holders.
• Contributors. As many as 11,730,000,000 tokens (17%) were distributed between early contributors and believers.
• Binance Launchpool. 1,380,000,000 tokens (2%) were allocated for initial exchange liquidity.
• Advisory. 2,070,000,000 tokens (3%) went for advisory fees.

Where to Buy MEME?

For those who missed the initial purchase phases, the easiest way to acquire $MEME is through centralized cryptocurrency exchanges like Binance, OKX, Bybit, Gate.io, HTX, Bitfinex, Kucoin, MEXC, Bitget, BingX, CoinEx, among others. For decentralized exchanges, MEME is available on Uniswap and Degate.

Is MEME a Good Investment?

Determining whether MEME is a good investment is hard, as with most cryptocurrency tokens, volatility is part of the game. However, there are several factors you might consider if you want to join this community. Just keep in mind that the project itself presents MEME as a token with no utility or financial return expectations.

Pros are as follows:

• Strong community support. Memeland has an active and engaged community, which could contribute to the token’s demand and recognition.
• Association with 9GAG and the connection to an established platform like 9GAG may provide exposure and credibility.
• Speculative potential. As a meme coin, MEME could experience price increases based on market sentiment and its popularity.

Meanwhile, among the cons to take into consideration are:

• Lack of intrinsic utility. MEME does not have a specific use case beyond being a meme, which may limit its long-term value.
• High volatility. Like all meme coins, MEME is subject to extreme volatility, potentially resulting in significant losses.
• Regulatory risk. Increasing regulatory scrutiny of cryptocurrencies could negatively impact tokens like MEME.

Given that MEME does not offer secure returns, it might be better to explore the NFT collections, which at least provide access to an elite network of collectors and crypto professionals.

Conclusion

Memeland and its native token MEME represent a unique approach in the cryptocurrency and NFT space, blending internet meme culture with blockchain technology.

While MEME explicitly positions itself as a token without utility or financial expectations, the broader Memeland ecosystem offers a diverse range of NFTs with various utilities and a large community.

Therefore, the nature and transparency of MEME as a meme coin without returns offer a refreshing contrast in an ecosystem often marred by inflated promises. However, thorough research is essential before investing, as its value is driven mainly by market sentiment and speculation.

To learn more about other popular meme coins, check our dedicated Exploring Popular Meme Coins guide.