On April 16th, the TON Foundation unveiled Memelandia, a program designed to boost meme coins and decentralized tokens operating on the TON cryptocurrency platform.
The TON Foundation highlighted that although these tokens may be disregarded by institutional investors, they are crucial for fostering devoted and active fan bases, rooted in enjoyment and intrigue.
🌈 Introducing Memelandia 🐸, a cultural hub for meme coins & community tokens!
This effort brings more attention to meme coins, which are frequently overlooked in the crypto community.
✅ Ranked TOL leaderboard✅ Marketing support✅ Recognition & financial rewards
🔗:…
— TON 💎 (@ton_blockchain) April 16, 2024
In simple terms, Memelandia functions as a vibrant center for The Open League, an event where distinguished projects and meme coin communities contend for awards and acclaim as the top community and cryptocurrency on TON.
An extra benefit is that Memelandia includes a live leaderboard, where meme coin and community token initiatives are ranked according to metrics like Total Value Locked (TVL), holder numbers, DEX transaction volumes, and airdrop distributions.
TON Joins The Projects Betting on Meme Coins
The TON Foundation’s introduction of Memelandia highlights their intention to benefit from the current surge in popularity for these coins, which surprisingly started as a lighthearted jab at Bitcoin and the crypto world. According to Coingecko, this playful project now boasts a significant market value exceeding $48.57 billion.
At present, the combined market value of Dogecoin, Shiba Inu, and Dogwifhat exceeds $37 billion. These meme coins have garnered a large and expanding fanbase, eagerly anticipating the next bullish surge. The popularity of meme coins has been remarkable, causing traffic jams in established platforms like Solana. Solana is currently facing challenges in implementing solutions to alleviate the congestion caused by the influx of meme coin activity.
In other words, although TON‘s latest project allows simple meme coin creation through user-friendly tools and accessible templates, there is a potential risk of increased network traffic as a result.
Currently, the Foundation focuses on fostering the growth of decentralized tokens with the assistance of community-building strategies. By employing effective mechanisms, it aims to establish thriving communities, which in turn are essential for the long-term acceptance of Web3 technology.
With over 35 million players engrossed in Notcoin, the recent viral sensation on Telegram, it’s no wonder Memelandia could experience the widespread adoption that TON Foundation aspires to reach. It remains to be seen if Memelandia can shake off the negative perception surrounding meme coins and prove their utility to the masses.
When I penned down this observation, Toncoin (TON), the token overseen by the TON Foundation, was priced at $5.95. This came after a 12.4% decrease within the previous 24 hours. However, it continued to exhibit a robust growth of 57% over the past 30 days.
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2024-04-16 22:39