By
Svetlana Soroka
April 29th, 2024
Memelandia will feature a real-time leaderboard ranking meme coin and community token projects based on metrics such as TVL, number of holders, DEX trading volume, and airdrop distribution.
On April 16, the TON Foundation announced the launch of Memelandia, an initiative aimed at supporting meme coins and community-driven tokens on the TON blockchain.
The TON Foundation stressed that while these tokens are often overlooked by institutional players, they play a significant role in building loyal and engaged communities around fun (and speculation).
🌈 Introducing Memelandia 🐸, a cultural hub for meme coins & community tokens!
This initiative helps meme coins that often go unnoticed by the crypto market get greater recognition.
✅ Ranked TOL leaderboard
✅ Marketing support
✅ Recognition & financial rewards🔗:… pic.twitter.com/hHfOE9U59c
— TON 💎 (@ton_blockchain) April 16, 2024
Memelandia will serve as a cultural hub hosting The Open League, a competitive showcase where selected projects and communities will compete for prizes and recognition as the leading community and meme coin on TON.
Additionally, Memelandia will feature a real-time leaderboard ranking meme coin and community token projects based on metrics such as TVL, number of holders, DEX trading volume, and airdrop distribution.
TON Joins The Projects Betting on Meme Coins
The launch of Memelandia by the TON Foundation underscores the project’s desire to capitalize on the boom that these coins are experiencing, which, although initially created as a mockery of Bitcoin and the crypto community, have amassed a hefty market cap of over $48.57 billion according to Coingecko data.
Currently, Dogecoin, Shiba Inu, and Dogwifhat have a total market capitalization of over $37 billion, with a continuously growing community awaiting a new bullish rally. The success of meme coins has been so significant that it has led to congestion in robust projects like Solana, which is currently struggling to implement updates to mitigate the congestion driven by the massive creation of meme coins.
Therefore, while TON’s new initiative will help anyone launch their own meme coin with easy-to-use tools and open-source templates, it could contribute to network congestion.
However, for now, the Foundation’s goal is to nurture these community-driven tokens and leverage mechanics to help create viral communities that serve as a cornerstone for the sustainable adoption of Web3.
Considering the success of Notcoin, the latest viral game that spread on Telegram, with over 35 million players clicking on their smartphones in anticipation of a possible token, it’s not surprising that Memelandia may achieve the viral adoption that the TON Foundation undoubtedly hopes to achieve. And who knows if they will finally manage to dispel the stigma that all meme coins lack utility.
At the time of writing this note, Toncoin (TON), the native token managed by the TON Foundation, is trading at $5.95, after a 12.4% drop in the last 24 hours, but still showing a 57% increase in the last 30 days.