Avalanche Foundation Launches $100 Million NFT Initiative to Enter the Meme Coin Space
The nonprofit organization in charge of the Avalanche Network's development, the Avalanche Foundation, has declared its plan to join the meme coin industry. For this project, a sizeable chunk of the $100 million NFT incubator fund will be set aside specifically for the purchase of meme currencies linked to the Avalanche blockchain.
This move, which embraces Meme Coin Culture as described in a post on December 29 on X, is in keeping with their larger goal of fostering and promoting new channels for artistic expression, cultural identity, and lifestyle choices made possible by blockchain technology.
With this fund, the organization hopes to purchase "selected Avalanche-based meme coins," recognizing and encouraging the unique culture and entertainment that these meme coins embody.
