In a significant development for Memeland, the social economy creation and investment project, Binance Labs has officially confirmed the platform's recent funding. This announcement comes on the heels of MEME's recognition in October 2023 as the 39th project on Binance Launchpool.

The Launchpool platform allows users to stake TUSD, FDUSD and Binance Coin (BNB) in various pools, participating in a 30-day farming experience and earning MEME tokens as rewards.

What you need to know about MEMECOIN

Memeland distinguishes itself by primarily focusing on developing and investing in SocialFi and creator economies. The project aims to foster connections between creators and communities through the MEME token and NFTs.

Thereby, capitalizing on the cultural phenomenon of Internet memes. As an independent web3 venture studio, Memeland operates under the umbrella of 9GAG, a highly popular meme platform boasting a monthly audience of 200 million users across its global channels.

We invested in @memecoin (MEME), the native token of @Memeland!

Memeland focuses on building and investing in SocialFi and creator economies to connect creators and communities.

— Binance Labs Fund (@BinanceLabs) January 4, 2024

$MEME price action to watch following the announcement

While the exact amount of Binance Labs' investment remains secret, the impact on MEME's value has been substantial. The announcement triggered a notable price increase, with the token seeing an impressive 17% increase. Now, reaching a daily high of $0.03. Notably, this surge contributed to a nearly 200% increase in 24-hour trading volume.

This strategic investment by Binance Labs not only confirms Memeland's position in the cryptocurrency industry, but also highlights the platform's growth potential in the emerging SocialFi landscape.#criptovalute #bitcoin #blockchain #crypto