What is Memecoin (MEM)?
Memecoin (MEM) is the native token of Meme.com, which is a memetic protocol that allows users to monetize popular internet memes. Besides that, it features an NFT layer called MarbleCards, which allows users to turn center images of URL links into NFTs. If you’re curious about the current MEM price, make sure to check the Memecoin price chart above.
The memes on the Meme protocol are converted into memetic assets (mTokens), which essentially are ERC-20 smart contracts. The Meme platform features specific Meme Markets, which allow users to trade, sell, and buy mTokens. These Meme Markets can either be meme-specific or not, and anyone can create them. Besides, mTokens can also be exchanged for Memecoins. In order to do that, a token bonding curve is used.
Talking about MarbleCards, as mentioned before, this is a collection of image URLs turned into NFTs. The owners of these cards can curate them however they want and use them in the Arena or for yield generation. MarbleCards was developed by the founders of Meme in 2019 as an NFT layer to be integrated into the Meme project.
Who Founded Memecoin?
The Memecoin crypto project was founded by Mattias Tyberg and Johan Unger in 2018.
Mattias Tyberg is a seasoned entrepreneur. He is an expert in predictive analysis and text analytics. Johan Unger, on the other hand, is a software specialist. Apart from founding Meme, Unger also founded such projects as Qulart, WinR, and Strossle. Besides, as of writing this, he is a board member of Noted Media.
Memecoin was successful in securing $5 million in funding in 2021 from backers including Morning Star, Blockhype, Spark Digital Capital, and Outlier Ventures. Besides that, Sandeep Nailwal and Gabby Dixon are among the angel investors of Meme.
Use Cases of MEM Tokens
Primarily, Memcoins are used as reward tokens on the Meme platform. It rewards users for supporting the works of NFT artists. Besides that, as mentioned before, mTokens can be exchanged for Memecoins by utilizing the bonding curve.
Don’t forget to check the live MEM price on the aforementioned Memecoin chart.
Tokenomics of MEM
The max supply of Memecoins is 100 million. Almost half of that supply (42.1%) is dedicated to rewarding Meme users. The remaining portion was split between teams, advisors, and founders, as well as distributed through token sales.
