The Open Network (TON) has announced the launch of Memelandia, a decentralized hub aimed at expanding its memecoin ecosystem. The initiative leverages TON’s integration with Telegram to power meme activity on the platform.

The launch comes as memecoin activity on other blockchain networks has sparked growing interest in these digital assets.

How Memelandia will boost TON memecoins

According to TON, Memelandia is a decentralized space where memecoin communities can thrive, compete, and innovate. It offers a unique environment for meme tokens to grow, fueled by the enthusiasm of crypto degens.

Additionally, Memelandia features several key platforms that encourage collaboration and competition among memecoin enthusiasts. One of these is the Launchpad Lair, where token implementers can launch new meme coins. Other areas, such as Meme Mountain and Cabal Arena, host meme battles between communities, creators, and traders. Additional platforms include Community Forest, Memecoin Armory, and the Lagoon of Digital Resistance.

On Memelandia, communities compete to grow their memecoins by driving volume, market cap, engagement, and decentralized exchange (DEX) listings. Top-performing communities are rewarded with airdrops and other incentives. The platform will also highlight tools for traders and creators, such as trading bots and launchpads. Additionally, it will offer marketing support and foster community engagement to promote meme tokens beyond TON.

“TON’s strategic position allows it to integrate Telegram’s vast audience into the crypto universe in general and meme coins in particular. Memelandia therefore offers a unique space for the growth of meme coins, fueled by the creative energy of degens,” TON added.

Read more: Altseason: what it is and how to take advantage of the altcoin bull cycle

The TON team explained that the initiative was motivated by the strong communities surrounding these assets. One example of high memecoin activity came from DOGS. In August, over 17 million users claimed DOGS tokens, resulting in a single-day transaction record of 14.4 million, causing two network outages.

Rising segment

The surge in memecoin activity, coupled with TON’s integration with Telegram and its access to the platform’s 900 million users, has significantly boosted TON’s popularity. As a result, TON now has over 11.8 million monthly active wallets and around 693,000 daily active wallets.

TON active wallets. Source: TONStat

Outside of TON, memecoin activity has increased on other networks like Tron and Solana. Since the beginning of this year, meme tokens have attracted increasing interest from crypto investors and have thrived in ecosystems with lower transaction fees.

Read more: Telegram: How to Use Cryptocurrency Groups in 2024

Given these trends, there are reports that institutional investors and liquid funds may soon enter the meme coin market. Su Zhu, founder of the now-defunct Three Arrows Capital (3AC), predicted that the market may soon witness an institutional allocation to the sector.

“Hearing liquid funds that previously rejected meme coins now being asked by LPs why they didn’t take advantage of the moves. Institutional allocation to meme coins will likely be the story of Q4 2024,” Zhu wrote on X.

The article TON Launches “Memelandia,” a New Hub to Boost Memecoins appeared first on BeInCrypto.