Let's talk about the recent launch of Memeland on Binance Launchpad. Memeland has been on my radar for quite some time. In terms of innovation, Memeland doesn't stand out as a groundbreaking project. Instead, it's more of a case of "micro-innovation" combined with Web2-style management, yet it has managed to gain recognition under the Binance umbrella. Below, we'll discuss Memeland's past and its potential for the future:
1. A Web3 Transition for 9GAG
The company behind Memeland is 9GAG, which is rumored to have 200 million users. While this may sound impressive, it's important to scrutinize these numbers. Web2 social media platforms often have high overlap in user counts, and many inflate their figures. When assessing the impact of 9GAG in the Web3 domain, it certainly holds a significant position.
It appears that 9GAG's transition to Web3 was somewhat forced, as its Web2 platform had limited competitiveness. The main question is why 9GAG succeeded in this transition.
9GAG's roots lie in meme culture, and the name "9GAG" itself is a playful term in Cantonese. Therefore, it naturally embodies meme culture, which led to Memeland's experimentation with the Web3 creator economy. Through MVP, Potatoz, Captainz, and other NFTs, in conjunction with the $MEME token system, they aimed to redefine the creator economy.
2. Memeland's Popularity
Memeland's popularity didn't just surge because it was about to be listed on Binance. It had been gaining traction for a while, primarily due to its NFT series, including MVP, Potatoz, and Captainz. These NFTs consistently improved and attracted a loyal user base.
Despite the unassuming nature of Memeland's NFT series, the team's grounded approach and expertise in "online marketing" and "viral propagation" contributed to its success.
These seemingly simple strategies reflect the pragmatism that is often missing in the crypto space. Sometimes, being just a bit more practical can lead to victory – a quality that I truly appreciate and find rare among startup teams.
3. The Future of $MEME
$MEME is the core of Memeland, serving to support creators and function as a governance token. Comparing it to other tokens is challenging since $MEME is both a meme and a core token within its NFT ecosystem, straddling the line between these categories.
Looking ahead, $MEME's potential lies primarily in the metaverse and social finance (SocialFi). It could serve as an economic hub for these emerging projects, such as governance tokens in the metaverse and creator economy tokens. Additionally, it might become a central hub for the value of the future NFT market. Its success will ultimately depend on the practical implementation of these products.
The fact that $MEME successfully launched on Binance Launchpool demonstrates Binance's recognition of this transformation project from Web2 to Web3.
Binance's strategy for listing projects generally favors those that can bring in users from outside the crypto space. $MEME's listing odds are promising, and those with idle BNB or USDT (which can be converted to stablecoins like TUSD or FDUSD) can take advantage of Binance Launchpool. I typically participate in Launchpool to earn profits, which I then convert back to $BNB – it's a sweet deal!
In conclusion, Memeland's journey from Web2 to Web3 is a testament to the power of incremental innovation and practical execution. It's not always about groundbreaking ideas; sometimes, it's about doing things a bit more practically. This transition also highlights the changing landscape of Web2 companies looking to find a place in the evolving Web3 world.