MEME Token Rockets 30% After Binance Labs’ Major Investment in Memeland

In an electrifying surge, the MEME token, representing the Web3 project in collaboration with NFT Memeland, has seen a staggering 30% rise following a substantial infusion of capital from Binance Labs. The investment arm of the world’s largest cryptocurrency exchange, Binance, recently unveiled its official backing of the Web3 project intertwined with NFT Memeland (MEME).

MEME/USDT 1 hour-chart on Binance | Source: TradingView

While the specific investment figure remains undisclosed by Binance’s incubation division, the funds are earmarked to bolster the project’s endeavors in constructing SocialFi and an economic foundation. Simultaneously, the investment aims to bridge the gap between creative minds and the community through the MEME token and NFTs, capitalizing on the thriving culture of memes.

Memeland, a brainchild of 9GAG, a widely popular meme platform boasting a monthly audience of 200 million users across its global channels, functions as an independent Web3 venture studio. The seasoned team behind Memeland boasts over fifteen years of experience in crafting community-centric products with a mission to democratize ownership within communities worldwide.

Beyond its signature NFTs and MEME token, Memeland offers innovative features such as MEME Farming and a roadmap teeming with upcoming services. These additions are designed to elevate user engagement, featuring unique NFT staking mechanisms, collaborative social networks for community members, and liquid staking of ETH. The grand vision for Memeland is to metamorphose into a fully decentralized, community-driven platform, where existing NFT holders will wield authority within the Memeland DAO.

Decoding Memecoin (MEME)

Memecoin (MEME) stands as the cornerstone token fueling Memeland’s thriving NFT ecosystem. With Memeland at the helm, a Web3 venture studio birthed by 9GAG, the focus remains steadfast on nurturing SocialFi and empowering the creator economy. The MEME token and NFTs serve as conduits connecting creators with their communities, fostering a symbiotic relationship.

Notably, Memeland marks the sixth project to receive funding from Binance Labs within the last three months, starting from October 2023. Prior to this infusion, Binance’s $9 billion incubation fund had invested in Open Campus (a SocialFi Web3 educational platform), the $5 million fundraising round of Sleek (a Web3 social networking platform), on-chain data analytics platform Arkham Intelligence (ARKM), SocialFi Web3 project Cyber Connect, and blockchain layer-1 pre-seed initiative Initia.

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