Binance Labs Invests in Memecoin, the Token of Memeland Ecosystem from 9GAG Creators

In a significant move, Binance Labs, the venture arm of the cryptocurrency exchange Binance, has made a notable investment in Memecoin (MEME), the native tokens powering Memeland's Web 3.0 ecosystem. Memeland is best known as the brainchild of the creators behind the widely popular entertainment platform, 9GAG, boasting a massive monthly audience of 200 million users. Memeland is not only about memes but also supports non-fungible tokens (NFTs) and offers a profitable MEME farming program. Moreover, the developers have ambitious plans to integrate NFT stacking and liquid stacking of native blockchain coins, specifically those of Ethereum.

Memeland also doubles as a venture studio, focusing on advancing the SocialFi segment and fostering community engagement within its NFT ecosystem through its native token, MEME. The team behind Memeland brings more than fifteen years of experience in creating community-oriented products. Their ultimate vision is to establish a decentralized platform governed by the NFT Memeland community. While the exact investment amount from Binance Labs remains undisclosed, this strategic move reflects Binance's continuous effort to expand its presence in the crypto space and support innovative blockchain projects.

As of January 4th, at 14:50 Moscow time, MEME holds the 218th position in the cryptocurrency rankings, with a market capitalization of $226.29 million and a trading price of $0.02508338. However, it experienced a 9.6% decrease in value within the past 24 hours. Binance's previous investments in blockchain projects have shown impressive results, such as the significant surge in the asset's value following the acquisition of Arkham Intelligence's native tokens (ARKM) in November.

This strategic move by Binance Labs underscores the growing interest in blockchain projects and the potential they hold for the future of finance and technology.