The overall spending on NFTs in the first quarter of 2021 was more than $2 billion. While the figure may appear insignificant in comparison to the total crypto market, it represents a 2,100 percent increase over the figures recorded in Q4 2020. “I’ve decided to stop ignoring and dismissing meme investing and start attempting to understand it better,” says seasoned investor Fred Wilson.
NFTs and Meme Coins are Gaining Popularity
While the number of meme currencies is increasing, they are also getting more mainstream. Christie’s, which was founded in 1766 in the United Kingdom, is one of the world’s oldest and most prestigious art auction houses. Everyday: The First 5,000 Days, a fully digital artwork by Beeple, also known as Mike Winkelmann, sold for more than $69 million at Christie’s. “Christie’s has never offered a new media artwork of this scope and importance before,” says Noah Davis, a specialist in postwar and contemporary art. The auction marked the beginning of a new era in the field of tokenized digital or online art.
Gamestop’s stock price jumped from $4 to $220 in February. WallStreetBets, a Reddit group, pushed users to acquire GameStop stock in order to counter hedge funds who were shorting or betting against the stock. In the same vein, SatoshiStreetBets decided to artificially inflate the price of several cryptocurrencies. These concentrated efforts benefited DogeCoin, which is named after the Shiba Inu “Doge” meme. Doge, according to one poster, is the Crypto GME. In a single day, Doge’s market capitalization increased by more than $7 billion. Gamestop is preparing to launch its own NFT platform, inspired by the spirit of the crypto market, which looked to Gamestop as an example to follow.
Some of the biggest names in the crypto realm are also interested in capitalizing on the rise of NFTs and meme stocks. Binance, the world’s largest cryptocurrency exchange, recently opened its NFT marketplace. The auctions for Andy Warhol’s Three Self Portraits and a digital NFT of Dali’s “Divine Comedy: rebeget” kicked off the auction house’s existence. The Bitcoin symbol, Binance CEO’s signature, and the Binance logo were all added to Dali’s artwork. These inclusions could only be seen by zooming in.
While the crypto community is enthralled with NFTs and meme coins/stocks, the euphoria is expanding to groups that have previously opposed or questioned crypto. It is the public sector.
The United States Space Force (USSF) was established as a branch of the armed services under Donald Trump’s administration. The USSF planned to issue a series of NFTs in the middle of June. The campaign was run in collaboration with the community-oriented NFT platform Ethernity chain. Digital versions of patches and coins were released to coincide with the debut of the company’s fifth vehicle in the GPS block III.
Memes/NFTs are Attracting a Lot of Investment
Investment inflow occurs as a result of growth and development into new territory. Meme.com, for example, has raised $5 million and is known as the CoinMarketCap for Memetic Coins. Meme.com prides itself on being the go-to source for great memes and trends. It allows users to assess the worth of memes, a concept that has piqued their interest.
But how does this one-of-a-kind concept operate in practice? To take advantage of everything meme.com has to offer, all you have to do is go online and look for memes that you believe are noteworthy. Following that, you must present your findings to the meme council for approval. Each month, you can receive incentives for contributing the finest findings. Overall, it aspires to create a long-term crypto-economy for memes that rewards both authors and collectors.
By sponsoring your favorite memes with the meme coin, you can help them grow. Marble Cards uses Memecoin as its official token. You can use Memecoin to generate an NFT with a central image made out of URL links from all across the internet.
With a developing industry, the uniqueness of meme.com’s innovation was enough to garner $5 million in funding from a collection of blockchain-focused venture capital funds and angel investors.
Many reputable investment firms have stepped forward to support meme.com, particularly those working with innovative and high-growth crypto projects. Outlier Ventures, Digital Finance Group (DFG), Morningstar, Blockhype, and Spark Digital Capital are a few of these companies. Even Gabby Dizon, CEO of mobile company Altitude Games, and Sandeep Nailwal, co-founder of Polygon, have invested in the platform. Meme stocks and NFTs are here to stay, as seen by the attention of such a seasoned crypto community.
When Joanna Liang, DFG’s head of investment, remarked that her firm believed in the potential of “meme markets, such as Meme.com,” she validated the growth predictions. ” They’re a “promising and novel method to empower users who discover or generate trends,” according to the researchers. Joanna went on to say.
Mattias Tyrberg, the founder of Meme.com, explained the platform’s aim by saying that “humor and memes have the capacity to link individuals and create unique shared experiences, unified by a common culture.” Other meme coins, such as DOGE and SHIB, will be hosted on Meme.com.