Today I’m going to talk about a recently popular project, which is also Binance’s launchpool. It rose from 0.001 to 0.1 when it was first launched, and is now back to around 0.02. It’s meme, and that’s what its name is. Its current market value has reached 175 million, and its ranking has directly entered 165. , let’s explore it today.
Introduction
Memecoin (MEME) is Memeland’s ecosystem token. Memeland is a web3 creative studio founded by 9GAG, a global meme platform.
Speaking of memeland, we must talk about the operation team behind it. He is 9GAG. This team has launched 3 series of NFTs, all of which are very popular.
The first NFT series "YOU THE REAL MVP" was sold out in a blind auction in June 2022, with a total of 420 units and a final price of 5.3 ETH. The current floor price has reached 44.4 ETH.
"The Potatoz" series was released using Free Mint in July 2022, with a total of 9,999 units, and the floor price once shot up to more than 3ETH. At present, the price has fallen slightly, and the secondary market transaction volume exceeds 18,900 ETH.
"The Captainz" series will be released in January 2023, with a total of 9,999 PFP sets. Treasure Mapz will be obtained by participating in the casting, and Mapz can be earned through soft staking during the Captainz reveal stage. To earn Treasure Mapz, you need to match Captainz and Potatoz series, and MVP will help in this process. Officially revealed that Treasure Mapz is related to $MEME, valuable NFTs, special utilities, etc. Owners of Captainz NFT can participate in the subsequent governance of Memeland DAO and have priority access to Memecoin and Treasure Islands.
Memeland’s official website revealed clues about the follow-up Token system, metaverse land, creator economy, and pledge system, but there is not much information at the moment.
Founded in 2008, 9GAG is an online entertainment content platform that mainly shares funny pictures and videos. It officially claims to have 200 million users on its official website, Twitter, Instagram, Facebook, YouTube, Tik Tok and other social media.
Memeland has a strong lineup of advisors/investors, including VeeFriends founder Gary Vaynerchuk, Moonbirds founder Kevin Rose, Kaiju Kingz founder Nathan, KOL Keung and other well-known names in the NFT industry.
The founder of 9GAG, Chen Zhancheng (now 9gagceo), studied law at the University of Hong Kong. After graduation, he worked in bank legal departments, television stations, and Internet companies. At that time, the boss of the Internet company he worked for was less than 30 years old, which inspired Chen Zhancheng to also To start a business. So, 23-year-old Chen Zhancheng found his younger brother Chen Zhanjun, his college roommate, and two anobii colleagues to start a part-time business together. They had previously worked on a cosmetics evaluation platform, a home appliance evaluation platform, a photo sharing platform, and an online karaoke platform, but These platforms ultimately failed.
9GAG completed US$2.8 million in Series A financing
In 2011, they decided to go to the United States to participate in the 500 Startups entrepreneurial program. After being mentored by a Google senior product manager mentor invited by 500 Startups, they found that the project 9GAG started in 2008 had the most potential. They created this website to provide Internet users with a way to share funny pictures and videos,
Later they made it a focus of development. Subsequently, 9GAG was favored by Y Combinator, First Round Capital, Greycroft Partners and True Ventures, and completed a US$2.8 million Series A financing.
9GAG has over 58 million followers on Instagram
In the following years, 9GAG developed rapidly and became one of the most popular online entertainment communities in the world. The content covers various themes, including comedy, animation, games, movies, music, travel, sports, etc., attracting a large number of of young people are paying attention. According to data from a website survey company, 9GAG ranked second among global humor websites in click-through rate in December 2022, and performed well in indicators such as average single browsing time, number of pages, and bounce rate.
In addition, 9GAG has accumulated a large number of users on various social platforms, with the following number of fans:
Instagram: 58.15 million Facebook: 41.88 million Twitter: 16.83 million TikTok: 2.4 million
In April 2022, its website wrote: "Memeland is 9GAG's Web3 ecosystem, and its mission is to empower creators by connecting Web2 and Web3."
first project mvp
It chose to sell a small NFT collection "You The Real MVP" in June, with a total of 420 pieces. After adopting a unique "blind auction" format, the community set the price at 5.3 ETH.
An MVP is defined as a senior member of the Memeland ecosystem, which is 9GAG’s way of thanking and rewarding community members. In addition, each MVP enjoys future benefits such as two Memeland Captainz NFT airdrops, whitelisting of all future Memeland and 9GAG projects, and MVP role in the project Discord. The current floor price remains at a high of 40 ETH.
Second project Potatoz
In July 2022, the team launched the "The Potatoz" series with a total of 9,999 units, and also adopted a "reveal-pledge-reward" mechanism divided into 5 stages. The image of Potatoz was divided into 5 stages for disclosure. Holders are required to stake their NFTs before they can evolve. During this staking process, Memeland also issued a large number of rewards, such as MVP NFT, Potatoz NFT, IPhone 14, whitelist, etc., and even among the prizes was "eat one for free" "McDonald's".
Potatoz is currently defined as the basic membership of Memeland. Benefiting from the latest Captainz series, the floor price of Potatoz once shot up to more than 3 ETH. It has now fallen slightly, and the secondary market transaction volume has exceeded 47,000 ETH.
The third project Captainz
On January 5, 2023, the team officially launched the Captainz series, with a total quantity of 9,999 units and a sale price of 1.069E. According to the announcement at the time, there was no public sale for this sale. Memelist, Potatoz and Waitlist holders were divided into two situations: "guaranteed casting" and "non-guaranteed casting" according to their respective priorities. At the same time, an unconventional "deposit separation" sale was adopted, that is, those who participated in the sale first deposited the ETH used for casting, and received Captainz airdrops 24 hours after the sale ended.
Next step memeland
The official overview map of Memelands shows what they have to offer. Islands with buried treasure, uncharted seas, giant sea monsters, pirate crews, launchers and more. Every element in Memelands is presented in a stylish and visually appealing way. Presented in image form, the current rough guess is that it should be a metaverse game + social platform.
At present, Memeland is roughly divided into 10 sections. The following is sorted according to their current priorities:
MVP: The top Pass card in the Memeland ecosystem, which has the highest priority in obtaining rights and interests within the ecosystem, and is helpful to other NFT series participating links.
Captainz: Represents Memeland’s top membership.
Potatoz: Basic membership to enter the Memeland ecosystem.
Treasure Mapz: As the reward middleware of the subsequent staking system, the randomness represented by the 5 types makes the operation of the subsequent staking reward system more playable.
Memecoin: Just launched, current functionality is unknown.
Treasure Islandz: Not yet launched, but official hints are different from the common NFT supporting metaverse land system.
Petsland: Not yet launched, the official only revealed “pet lovers only”.
Stakeland: Not yet launched, the official only revealed "making cryptocurrency staking fun."
Holders.com: It has not been launched yet. The official only revealed the “consultant for the Web3 journey”.
GMGM.com: It has not been launched yet, the official only revealed “Web3 OnlyFans”.
The above is sorted according to their current priorities. The launch time and specific content of these sections are subject to further official announcement.
Token economy
The current total number of tokens is 69,000,000,000, and 8,797,500,000 are currently in circulation. Currently, only 12% are in circulation. They will be unlocked in 5 years. The current currency price is 0.02 US dollars. Because the circulation rate is relatively low, the total market value is almost 1.4 billion US dollars. , so from this point of view, the market value is still relatively high, and then in terms of distribution, 17% of the team and 30% of the ecosystem are actually controlled by them, that is, they have nearly 50% of the tokens in their hands, so the amount is still very high.
Finally, to summarize this project, in fact, by looking at the recent rise of meme projects, including vertical comparison of previous meme projects, we can actually find that meme projects are also evolving and are not standing still. The first generation of memes was doge, without any elements. Purely plagiarizing Bitcoin, just changing the code. The second generation is the last bull market, with the emergence of shib, we can see that people at least understand operations, such as giving 50% of the coins to V God, riding on the popularity of V God, and other various marketing. Then look at the third generation of memes, such as floki. Floki not only rides on Musk's popularity, but also plans to make games, including memeland, which is also the same idea. Judging from the NFTs currently launched by the project team, the transaction volume is MVP 6455ETH, PhototoZ 47000ETH, and CaptinZ 66670ETH. The current author income they set is 3.33%, so currently, the transaction volume of these projects alone has earned 4,000 ether, which is almost more than 7 million US dollars. In addition, the three projects sold, mainly the captin project, have raised approximately US$18 million, so the team is still not short of money. It must polish this game and benchmark it against other projects. The current market value of APE is US$500 million. But he has unlocked 37%. Counting all unlocks, the total market value is about 1.5 billion US dollars, so the market value of memeland according to our current calculation is almost the same as that of ape, and you must know that bayc can be the industry leader, so half of the space is more reasonable.