Meme.com Secures $5 Million In Fresh Funding To Create First Meme Market Platform

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Meme.com, a platform used by content creators and explorers to share their artwork, has announced it secured $5 million in funding to support its efforts to launch the first meme market platform. 

The platform has received support from numerous blockchain-focused venture capital (VC) firms, namely Outlier Ventures, Digital Finance Group (DFG), Morningstar, Blockhype, and Spark Digital Capital. 

Moreover, the project received support from successful entrepreneurs Gabby Dizon, who heads Altitude Games, as well as Polygon (Matic) co-founder Sandeep Nailwal.

“The vision of a platform that uses crypto to measure the value of things on the Internet has been with us for a long time. Those who’ve been following our community know that memes are at the core of our DNA. We are now doubling down on this with Meme.com,” said Johan Unger, Ancient Alien at Meme.com.

The funding round doesn’t come as a surprise given the huge attention that meme digital assets, such as Dogecoin, attracted lately. 

"The Meme.com team has a passion and several years of experience with viral and memetic content, which is an integral part of the internet. We believe that humor and memes have the power to connect people and create unique shared experiences,” continues Mattias Tyrberg, Sir Stonks at Meme.com

Hence, VC investors are seeking to capitalize on this growth opportunity by supporting projects that can attract the wider attention of the cryptocurrency and blockchain community, as well as the wider public.

“We believe that memes and meme markets, such as Meme.com, are a promising and innovative way to empower users who find or create trends,” commented DFG’s Head of Investment, Joanna Liang. 

Liang adds that DFG has “high hopes” that the platform will continue to expand and take advantage of the emerging sectors centered around memecoins, NFTs and digital art.

Meme.com, in particular, allows users to mint memetic tokens that are based on the judged value of a meme they represent. The community then supports memes they like with the most popular memes eligible for NFT rewards each month.

The platform also allows tokens to be staked on the platform in order to provide incentives for the community to create more memes. The community can also measure or compare the value of each meme and trend.

In recent months, the investing community has witnessed an explosion in the popularity of NFTs. Until the end of March, investors poured about $90 million into NFTs and digital collectibles companies. In 2020, the total volume of NFTs soared to $250 million. Similarly, the price of a meme cryptocurrency Dogecoin soared on the back of support from Tesla CEO Elon Musk. 

For these reasons, some industry experts say we are transiting towards a meme era of investing. Interestingly, the Meme.com project founders describe their platform as if Doge and Wikipedia would have a baby.

Image Sourced from Pixabay

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.