Memeland 101: Introduction to 9GAG's NFT Ecosystem and MEME
Memecoins, cryptocurrencies inspired by internet memes and jokes, have become a notable force in the digital asset landscape. As of July 12, 2024, these playful tokens account for a striking 1.75% of the $2.12 trillion crypto market capitalization and drive nearly 5.5% of the 24-hour trading volume. These statistics reveal the surprising foothold memecoins have gained in the digital asset market. However, one project is pushing beyond the boundaries of typical meme-based cryptocurrencies.
Enter Memeland, an NFT ecosystem backed by internet culture powerhouse 9GAG. This innovative platform is challenging the notion that memecoins are solely about humor and speculation. With its native MEME token and a series of successful NFT collections, Memeland is carving out a unique space at the intersection of blockchain technology and community-driven content.
This article delves into Memeland's position in the crypto landscape, exploring its successful NFT collections and the recent launch of its MEME token. We'll examine how this platform aims to reshape digital communities and ownership, potentially reshaping the future of digital communities and ownership.
What Is Memeland?
Memeland is a non-fungible token (NFT) ecosystem founded by the independent Web3 venture studio of the 9GAG meme platform.
With the mission to bring ownership to every community in the world, the project builds and invests in social products for the community. According to its website, Memeland connects creators and communities together through creativity, NFTs, and the native MEME memecoin.
After growing 9GAG's global audience to 200 million across various social media networks, the meme platform aims to try something new through blockchain technology with Memeland. To date, the project has launched three successful NFT collections, all of which rank in the top 30 non-fungible token collections by market cap.
As a result, Memeland has become one of the top NFT brands currently in the cryptocurrency market.
What NFT Collections Does Memeland Have?
In this section, we will explore Memeland's NFT collections, which the project has already launched: You The Real MVP, The Potatoz, and The Captainz.
You The Real MVP
Source: Memeland
Launched in June 2022 as Memeland's first NFT collection, You The Real MVP consists of 420 gold trophies discovered in various historical sites on the globe. Each collectible features the same inscription: "In i dór -o i greatest memes lies i greatest mír," which means "In the Land of the Greatest Memes lies the Greatest Treasure."
Besides functioning as a collectible, You The Real MVP provides holders access to a network of builders, collectors, creators, entrepreneurs, makers, professionals, and degens where they can "help each other win" by sharing advice, information, skills, and knowledge. Owners also have the first access to information on Memeland's upcoming products, including The Potatoz and The Captainz collections, which were rolled out after You The Real MVP.
In addition to the above, You The Real MVP holders have private access to the MVP lounge in Memeland's Discord, NFT drops, IRL events, preferential allowlist spots, and other collaborations only MVP members can take advantage of.
Source: NFTPriceFloor
You The Real MVP currently ranks as the 20th largest NFT collection by market capitalization, with its floor price featuring an all-time return on investment (ROI) of 720%.
The Potatoz
Source: Memeland
The Potatoz is Memeland's second NFT collection, which was launched in July 2022 as a free mint. As per the project's description, it includes 9,999 small species leading the way to Memeland. Each collectible is a utility-enabled NFT profile picture (PFP) with rarity-powered traits inspired by pop culture and internet memes.
Representing the base membership level to Memeland, Potatoz serve as companions to Captainz, as well as feature non-custodial staking and a multi-stage reveal mechanism. Regarding the latter, if holders allow them to sit in their wallets, they will evolve into the next stages (up to Stage 5) while providing owners with rewards like weekly prize draw tickets.
Source: NFTPriceFloor
Ranked as the 30th NFT collection by market cap, The Potatoz' floor price has increased from 0 ETH (it was a free mint) to 1.07 ETH as of July 12, 2024.
The Captainz
Source: Memeland
As the project's third NFT collection, The Captainz launched in January 2023. Searching for the legendary Memeland, it also includes 9,999 collectibles in the form of utility-enabled PFPs with rarity-powered traits inspired by pirates, memes, and pop culture.
Representing the premier level membership of Memeland, Captainz offers multiple perks to holders related to the MEME memecoin and the upcoming Treasure Islandz collection. According to the project's website, more information about Captainz's utility and perks will be revealed in the near future.
Additionally, Captainz NFTs empower holders with the ability to participate in the community governance mechanism of the upcoming Memeland decentralized autonomous organization (DAO). Owners of the collection's non-fungibles will be able to decide on matters related to the DAO treasury, partnerships, governance rules, and more.
Source: NFTPriceFloor
The Captainz is Memeland's top NFT collection by market cap, scoring the 12th spot in the market. Since January 8, 2023, Captainz's floor price dropped from 4.40 ETH to 2.84 ETH on July 12, 2024, representing a 35% decrease in roughly one and a half years.
What Should I Know About the MEME Token?
Launched in November 2023, Memeland describes MEME as "literally" a memecoin with no utility, roadmap, promises, or expectation of financial returns. As stated on the project's website, it was created only for memes.
However, that might change soon, as the project plans to introduce new use cases for MEME through collaborations and partnerships. Moreover, staking MVP, Potatoz, and Captainz NFTs can result in rewarding users with valuable items that can be swapped for the memecoin. MEME can also be staked on Memeland's Stakeland service to receive Steaks, which are burnt for new tokens launched on the platform.
Source: Memecoin.org
MEME has a maximum supply of 69 billion, and the above image shows its distribution. There are currently a little less than 22 billion MEME circulating in the market.
Source: CoinMarketCap
Since its launch in November 2023, MEME's price has dropped from $0.02030 to $0.014 on July 12, 2024, representing an all-time ROI of -31%.
In summary
Memeland is a fast-growing NFT ecosystem powered by the same team that created 9GAG. With the launch of its three collections, the project has become a significant player in the non-fungible token market.
Frequently Asked Questions
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Memeland is founded by the independent Web3 venture studio of the 9GAG meme platform.
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Memecoin, named MEME, was launched in November 2023. It was initially described as having no utility, roadmap, promises, or expectation of financial returns.
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The maximum supply of MEME is 69 billion tokens.
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Disclaimer: Views expressed in this article are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.
