What is Meme Economy?
Let's find out Meme Economy meaning, definition in crypto, what is Meme Economy, and all other detailed facts.
Meme Economy is a term used to describe a subculture on the internet where users look at memes as if they are assets by describing them through financial jargon.
This insider joke has prompted the creation of multiple projects based on an imaginary meme economy that hosts the meme market.
It first showed up on a subreddit at /r/memeEconomy in 2016.
What is /r/memeEconomy?
As mentioned above, /r/memeEconomy is a forum found on Reddit where users can discuss memes and economics at the same time.
This unique combination creates a space for users to “invest” in various memes. When making a decision, they mostly evaluate whether the meme has any chance of receiving the biggest amount of upvotes.
How does it work? Members scour the subreddit in order to find a new meme that doesn’t have many upvotes but has the potential to become the top meme sometime in the future. If the said meme is found, then the members can invest their memecoins in hopes of large gains.
Additionally, community members enjoy looking for new memes to become viral. The pleasure is short-lived however since they turn into dead memes after reaching peak popularity.
It’s important to keep in mind that this is fiction. Meme economy does not have a real market. The only cryptocurrency you can collect is memecoins which are essentially worthless.
This subreddit has received some backlash in regards to taking itself too seriously. However, the majority of its members highlight the fact that this is a satirical representation of real-world cryptocurrency markets and depicts certain characteristics of traders within them.
What is NASDANQ?
NASDANQ is one of the projects that emerged after the creation of the Meme Economy. It was introduced by one of the subreddit members Darkpitt in late 2016. The idea behind it is to create an actual meme exchange. There were a couple of other members from the subreddit such as AchillesDev and Icedog68 that volunteered to develop this marketplace.
NASDANQ had the basic functionalities of a trading platform such as buying and selling plus the option to set firms. Its users could exchange memes and meme accessories.