The investment arm of the cryptocurrency exchange Binance, Binance Labs, announced that it has made an investment in another altcoin project. The announcement from Binance Labs revealed an investment in Memecoin (MEME).
Binance Labs Supports Investment in Memeland’s MEME Token
Binance Labs announced its investment in Memeland’s native ecosystem asset, Memecoin (MEME). It is known that Memeland’s main focus is to build and invest in SocialFi and creative economies with the aim of connecting content creators and communities through MEME tokens and NFTs, leveraging meme internet culture.
Memeland serves as an independent Web3 venture studio of the popular meme platform 9GAG, which has a monthly global user base of 200 million users across its channels. The team behind Memeland has over fifteen years of experience in creating community-based products with the mission of bringing ownership to every community in the world.
Beyond NFTs and the MEME token, Memeland offers MEME Farming and plans to introduce various features and services in the future. These features aim to enhance user experiences and encourage community engagement, including unique NFT staking mechanisms, social networks for community collaboration, and fully liquid ETH staking.
Memeland‘s vision is to transform into a fully decentralized, community-focused platform where current NFT owners will have access to govern the Memeland DAO.
The Price of MEME Token Skyrockets After Investment Announcement
Following the investment announcement by Binance Labs, the price of the MEME token turned upwards and skyrocketed. Just before the announcement, the MEME token was trading around $0.024, but quickly recovered and climbed to $0.031 following the announcement.
According to current data, the MEME token has seen a 7.35% increase in the last 24 hours, trading at $0.0304. With this rise, the altcoin has increased its gains to 5.41% over the past 7 days.
