The cash will be used to help the firm expand its intentions to offer meme currency investing and NFT trading to the wider internet realm, according to a media release made on May 27.
The fundraising round also includes angel investment (or equity financing) from Altitude Games CEO Gabby Dizon and Polygon co-founder Sandeep Nailwal, besides the blockchain-focused venture capital companies mentioned above.
Meme.com, which bills itself as “what would happen if Doge and Wikipedia had a baby,” attempts to tokenize the capability to engage with latest internet trends and memes in a manner that might possibly change the entire idea of online worth.
Its crux is a system that creates memetic tokens (meme coins) whose value is solely determined by current events or viral memes. The real monetary worth of each meme may be tracked and evaluated against others via token charts and statistics, thanks to a reward system and a full-featured marketplace.
Meme.com aims to fundamentally create a shift in the manner in which value is created on the internet by merging the features of a social media platform and a token marketplace. It also trusts to capitalize on the rising success of prevailing meme coins like Dogecoin and also the NFT boom.
Detailing the vision further, Johan Unger, Ancient Alien at Meme.com stated:
“For a number of years, we’ve had the idea of creating a network that allows crypto to quantify the worth of objects on the Internet. Memes are at the center of our DNA, as everyone who has followed our group knows. With Meme.com, we’re betting big on this.”
While it may seems like monetizing memes is a bit of a stretch, Mattias Tyrberg, Sir Stonks at Meme.com, is eager to point out that it isn’t. The crew, he claims, has the necessary knowledge to make this a fact.
As he puts it:
“The Meme.com group has a fondness for viral and memetic material, which is an important component of the internet, along with several years of expertise with it. Laughter and memes, we think, have the capacity to bring people together and generate unique common interests.”
Congratulations to the https://t.co/e9F8gCnPCH team! 💫
Love the new website btw (and domain of course) 🙂 https://t.co/4WqiZtR4nL pic.twitter.com/vFffEQ0pzq
— Morningstar Ventures (@Morningstar_vc) May 27, 2021
Meme.com supporter Digital Finance Group shares this viewpoint (DFG). The company feels that Meme.com symbolizes “a potential and unique method to inspire individuals who identify or create trends,” as per a statement made by the business’s Head of Investment Joanna Liang.