MEME is the name that might have caught your attention all around. If not on Twitter, then on Discord, if not there, on Telegram, but one of the places where you read and follow Cryptocurrency, if you haven’t noticed the name “MEME“, you certainly were on a break. What’s MEME and how is it probably going to be the shitcoin you should not be missing?
Memecoin is the shitcoin that Memeland is launching. The coin isn’t launching on any dex through a presale or stealth launch, but it is going on one of the largest cryptocurrency exchanges, i.e. Binance, and alongside that, on several other CEXs. How did it reach there? What’s so good about the token? The story is about the background of it.
Memeland is a community company from the team that runs 9gag.com, a source of entertainment through memes and graphics for over 15 years. With over a decade of experience in this aspect, the same team, especially the founder Ray Chan entered the web3 world.
Now, more than a year later, Memeland is an ecosystem of NFT collections, and a set of future inclusions like a social platform, a metaverse, and games. What NFT collections are under the belt of Memeland?
YOU THE REAL MVP
The first collection was “YOU THE REAL MVP” sold via Blind Auction, and the final price was set at 5.3 ETH. It’s a supply of 420 NFTs, and they are probably the ones with the highest say in the ecosystem, we’ve seen some of the MVP holders regularly sharing some future alpha because Ray and other team members share some of their ideas and take feedback from them.
A collection of 9,999 utility-enabled PFPs launched on Jul. 21, 2022. It was a free mint and knowing how to bring people in from different verticals, there were some smart ways of giving allowlists to people where influencers, active community members, etc. were given allowlists for the mint.
The Potatoz have done over 45000 ETH worth of volume on secondary marketplaces, and the highest was before the mint of Captainz, the main NFT collection because three Potatoz held in a wallet would lead to a direct allowlist for the Captainz mint. Alongside that, there were valuables that Potatoz used to get, and each of them now will have a certain allocation for
This is the main one. The main lineup of 9999 Captainz in the Memeland ecosystem. This collection was minted during the first week of January this year with a mint price of 1.069 ETH. It has a few traits that define the amount of allocation that they get for the MEME token fire sale, and also the airdrop of the tokens depends on the trait.
With over 62000 ETH in secondary volumes, it speaks how well-known Memeland as an ecosystem has been, and whales from the larger collections at that time, i.e. Azuki, BAYC, MAYC, etc. used to venture into the Memeland community to see what it comprises of.
MEME Token – The real deal?
So, this is the token that will power the Memeland ecosystem. Airdrops, utilities, fire sale, and so much when we talk about this token. But, Memecoin whitepaper says otherwise.
There is no roadmap and there is no promise or expectation that any ecosystem will even be developed for $MEME.
To add to that, the Memeland website mentions this about the Meme coin.
MEMECOIN ($MEME) IS LITERALLY A MEME COIN.
NO UTILITY. NO ROADMAP. NO PROMISES. NO EXPECTATION OF FINANCIAL RETURN.
JUST 100% MEMES. 😉
So, you know what expectations to have from the Meme token. Nothing. Yet, things like these are what excite me. Pure shitcoins including Doge, Pepe, Floki, and Shiba are all community-backed and they intend fun and that’ll be no different with Meme when it already has a community with thousands of users.
The MEME Tokenomics
How much ever you try to make people understand that it’s a shitcoin, they still would want to check the tokenomics, and that’s fair. It’s for those who want to join in now and ape into it. So, here it is.
- Total Supply: 69,000,000,000
- FDV: US$69,000,000
- Price Per $MEME: US$0.001
- Fire Sale Supply: 7,590,000,000 (11% of total supply)
- Day 1 Unlock: 1,897,500,000 (2.75% of total supply)
The remaining tokens would unlock daily over the next 18 months.
There were different levels of allowlists for individual Captainz holders and holders of Capz + Potatoz who formed Crews. Not just that, a bigger trait of the Captainz had more allocation for the fire sale.
- ALIEN Captainz: 10 LOTS PER NFT
- KAIJU OR KONG Captainz: 3 LOTS PER NFT
- SHARK OR KRAKEN Captainz: 2 LOTS PER NFT
- HUMAN OR UNREVEALED Captainz: 1 LOT PER NFT
Per lot, the allocation was ETH for an equivalent of $300.
Apart from that, like how Memeland has been always about social marketing, they had given away waitlist codes to non-holders, and here are some details about the number of waitlist participants and winners.
- Total Fire Sale Units: 25,300
- MEME/Unit: 300,000 MEME
- Allowlist Joined: 21,544
- Allowlist Allocation: 21,544
- Success Rate: 100%
- Waitlist Joined: 30,098
- Waitlist Allocation: 3,756
- Success Rate: 12.47%
Community Airdrop is 25% in total from the total supply, and on TGE, 1/5th of that is going to be unlocked, and the other 4/5 will be locked in the NFTs with a non-linear unlock in the future. So, about 3.45 billion MEME tokens are getting unlocked for the airdrop around the listing time, and that will get distributed to MVP, Captainz (with rarity factor included), Potatoz NFTs, and maybe to even the Mapz and Valuables that were given out to Captainz and Potatoz respectively during their quests.
What’s the expectation from MEME token in terms of pricing?
Even while I was sharing about the MEME token farming on their Memecoin website, I used to mention that this could go parabolic, or go down to zero. It’s called a shitcoin for a reason. But, we still set some expectations based on the hype and the demand that it has.
Bitmex, one of the futures trading markets has MEME already trading based on speculations and currently, the price of the token sits at 60x the fire sale price, i.e. at USD 0.06 per token. But, to be fair, based on how the airdrop is going to happen with a good number of tokens being dropped to the NFT holders, and also if they have the MEME tokens given to the token farmers on their website before the listing, the price could well be around 10-20x from the fire sale price, so USD 0.01 to 0.02, which is still not bad for the fire sale participants because 25% of the total sale tokens would be unlocked on the listing day, so about $75 worth of tokens, and this could go to about $750 to $1500, but remember, this is all speculation and not financial advice in any way.
People are expecting even 100x but realistically that could only happen if Memeland announces some utility or something attached that leads to more buy pressure, or there’s no reason right now for the fire sale participants or even the NFT holders to hold their tokens after they claim them.
Farm MEME tokens for FREE
There are two ways currently to farm MEME tokens for free.
1. Memecoin farming website – This is where you do some social quests and earn Meme points which later would turn into Meme tokens, but there is no information on how many. If you are starting to do that now, make sure you enter the referral code to get those extra Memepoints – choose Captainz and enter 1430 as the code. You can do referrals only if you hold Captainz or Potatoz, but you can still get referral Memepoints if you are a non-holder.
2. Binance Launchpool – Since this is launching on Binance, they have the token on the launchpool and you can farm the tokens by depositing either BNB, TUSD, or FDUSD. MEME broke all the records of the year for the launchpool deposit stats, getting over USD 2.2 Billion in deposits in the first 24 hours since the pool began. You can still farm Meme tokens by depositing the eligible tokens if you have an account on Binance.
The Future with Memeland Ecosystem and MEME token
It’s a fact that Memeland is here to stay. A Web2 brand venturing into Web3 and establishing itself in the top leagues with a founder who has his focuses on attracting investors and users from Web2 is someone the Crypto community should be happy to have, and even if the MEME token is called a pure shitcoin, I am sure at the right time, there will be something for the MEME token to see itself sustainable enough in the ecosystem.
There would be quests, treasure islandz, and more. What is in the works for the future of Memeland ecosystem includes Holders.com (a Tripadvisor for your web3 journey), gmgm.com (Web3 OnlyFans, more like SocialFi from Memeland), Stakeland (Making crypto staking fun), and Petsland (a place for Pet lovers). There is a lot to come, so wear your seatbelts and join the ride.