Binance Labs Invests in Memeland’s Native Ecosystem Token Memecoin (MEME)
The investment arm and incubator of the cryptocurrency exchange Binance, Binance Labs, has invested in the Memecoin (MEME) token.
According to an announcement on January 4, Binance Labs revealed that it has invested in the naive ecosystem token of Memeland, a project focused on creating and investing in the social economy. However, the size of the investment has yet to be revealed.
Prior to Binance Labs’ investment in MEME, the cryptocurrency was featured as Binance Launchpool’s 39th project in October 2023. Binance Launchpool is a platform that allows users to stake their Binance Coin (BNB), TUSD, and FDUSD in distinct pools for a 30-day farming adventure, earning MEME tokens as rewards.
On October 28, 2023, Binance officially announced this initiative, providing crypto enthusiasts with the opportunity to participate in the Launchpool and earn MEME token rewards. Users could stake their assets in specific pools, and in return, they would receive MEME tokens. A significant pool of 1,380,000,000 MEME tokens, equivalent to 2% of the total token supply, was allocated as rewards for participants in this campaign.
Announced in April 2022, Memeland operates as an independent Web3 venture studio under 9GAG, a well-known meme platform with a monthly audience of 200 million users worldwide. The Memeland team has over fifteen years of experience in creating community-based products and is dedicated to the mission of bringing ownership to communities worldwide.
In addition to NFTs and the MEME token, Memeland offers features such as MEME Farming and plans to introduce upcoming services to enhance user experiences and community involvement. These include unique NFT staking mechanisms, collaborative social networks for community members,
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