What is The Value of Memes
Before we dig into the juicy stuff, let’s do a short introduction to any potential newbies.
Meme.com is a memetic asset protocol. It creates the ability to quantify all information and its network effects in a trustless way. It’s a story layer of the internet.
With Meme.com, it’s possible to create markets and collectibles around any trend. It’s like an open market for, and around content. Anyone can get exposure to things they believe in.
Our first project Marble.Cards has been around since 2018 and is one of the OG NFT projects. Since launch, it’s been heavily influenced by memes. Over 120,000 Marble cards have been created so far.
On Marble.Cards it’s possible for anyone to create collectibles tied to URLs. In essence, to create a Marble card is a way to capture an Internet moment or memory. There can only be one card for each URL, so each Marble card becomes a bookmark with built-in scarcity. Visually, a Marble card consists of a frame decorated with a generative art pattern, surrounding a circular window where a preview image is shown.
These bookmarks are then used to discover trends in a cryptofied Tinder game called the Arena. In the Arena, people vote on cards and topics they like helping us extract valuable rankings of trends.
The next step in this is to actually capture the value of these trends. This is where the Meme Market comes in, a place to create, buy and sell Meme Tokens.
A memetic asset is like a synthetic asset, but where the value comes from the perceived value of the trend, instead of an underlying asset.
It’s a way to value memes using skin in the game memetic tokens. A form of speculation where people try to predict the future popularity of things. A way to discover trends early.
In the Meme Markets users buy Meme Tokens with Memecoin.
Anyone can create a Meme Token Market based on their favorite memes by paying a small fee in Memecoin. The Meme Council will then vote if it will be promoted by the platform. After approval, the user will receive the first Meme Tokens from the bonding curve. Then, anyone can buy tokens from the curve.
For each trade, there is a percentage fee that goes back to the Meme Treasury. A portion of tokens for each market is set aside for the verified creator of each Meme Token Market.
Each market begins at a close to 0 market cap and is priced using the bonding curve.
Buying into a market, using Memecoin, gives you a Meme Token. Staking that token gives you rewards from the Meme Treasury. How much is decided based on the rank of that market, and how long you staked in that market.
The quality of the market depends on how many people are active in it, how much Memecoin that is used both in total and in the near term, combined with the average score of all Marble cards for that market.
Staking also can reward you with rare NFTs called “Meme Art”. These collectibles have different rarities based on the rank of the market. The more you stake and the longer you stake, the higher the chance is to get better rare art. The art may be created by artists, explorers or by generative art algorithms.
There will be three types of main incentives built into meme markets; staking of Meme Tokens, trading volume rewards and trend finding rewards.
- Staking rewards; Users can buy Meme Tokens and when they do, they lock up Memecoin and effectively reduce supply just as when you stake coins. In this case, staking rewards will be given to long term holders of each mTOKEN to incentivize locking in Memecoins.
- Market making rewards; To incentivize market making the platform will reward users that have the highest trading volume
- Trend finding rewards; Users that find trends early that trend later will be rewarded by the platform.
- Quest rewards; Quests related to the meme market will be available, such as own in several markets to get benefits, own x number of Meme Tokens, who buys or sells the most mTOKEN during a season and so on.
Why buy Meme Tokens?
- If you believe in the concept of Meme Markets, owning Meme Tokens is what you should do.
- Staking Meme Tokens means you get rewarded for your prediction with Memecoin. Different liquidity mining programs will be used to bootstrap activity.
- Support the community. A lot of the fees and sales in the mTOKEN goes to the original creator of the meme (if there is one), and to the people who make the best remixes.
- Collect Meme Art, the rarest of our Memetic Assets. Only the best performing Meme Tokens are rewarded with Meme Art. Keep an eye out for our smashing Meme Art drops!
Value Flow on the Meme.com Platform
Image 1: MEM value flow of Meme Tokens
Image 2: MEM value flow for both Meme Tokens and Marble.Cards
Things that influence Meme Market Rank
- total amount of Memecoin in a market
- total amount of Marble cards related to that market
- related card statistics and levels
- related cards performance in arena
- related cards performance in battles (coming soon)
- memes trending outside Meme.com (coming soon)
The Memetic Pyramid
We see the asset structure for the memetic value of trends as shown below. The Meme Tokens at the top of the pyramid are the most scarce, and the Marble cards at the bottom are the least scarce, since there can be many cards about the same meme. The usage of the different assets provide various signaling input to the value of the trend. Additionally, a user does not have to engage with all levels. Some may only want to speculate in the Meme Markets via Meme Tokens, others may enjoy the curation side by creating Marble cards.
Memecoin and Meme Token Difference
Memecoin is the platform token. It’s a way to pay for things on the platform, such as card creation and upgrades, and for Meme Tokens.
A Meme Token can be described as a proof of belief in a certain meme. It is what you receive when you buy into a meme with Memecoin.
Imagine if Wikipedia and Dogecoin had a baby. That would be peculiar… On Meme.com, it is possible to create markets and collectibles around any trend. Anyone can get exposure to things they believe in. Some contribute amazing content, while others provide sponsorship.
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