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Memeland, a Web3 Project Built by 9GAG's Team, Secures $10M Minutes After Going Live

The Web3 venture lab is built by team members who previously worked on 9GAG, an immensely popular meme site.

By Shaurya Malwa|Edited by Parikshit Mishra

Updated Oct 26, 2023, 8:23 a.m. Published Oct 26, 2023, 7:45 a.m.

The token sale of Web3 firm Memeland (MEME) hit $10 million in commitments on Thursday just 42 minutes after going live, data shows.

Community members were previously able to complete various activities to enter a waitlist that allowed them access to the sale. As of Thursday, the tokens are pegged to have “No utility. No roadmap. No promises. No expectation of financial return. Just 100% memes.”

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New Quest is up! You have 24 hours. ⏳

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👋 Excuse me Sir/Madam, do you have a moment to talk about @Memecoin? $MEME is literally a meme coin. No utility. No roadmap. No promises. No expectation of financial return. Just 100% memes. 😉
— Memeland ❤️ Memecoin (@Memeland) October 23, 2023

Despite being sold out already, the sale is scheduled to continue till Friday morning, when previously waitlisted users could gain access to the tokens.

Memeland was built by the team that founded 9GAG, a popular meme-sharing and news site seeded by influential investors, such as YCombinator. It offers several non-fungible token (NFT) and developed applications merging metaverses, gaming and NFTs.

Metaverses refer to virtual lands that operate on a blockchain, usually using a token for transactions.

As per public details, some upcoming Memeland platforms are travel service Holders.com, video sharing service GMGM.com, crypto staking application Stakeland and Petsland, a pets-focused service.

meme

Shaurya Malwa

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.

Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.

He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.