The Open Network (TON) has launched Memelandia, a decentralized hub that aims to expand the meme coin ecosystem. This initiative uses TON’s integration with Telegram to increase meme activity on the platform.
The launch comes as meme coin activity on other blockchain networks has sparked increased interest in these digital assets.
How Memelandia will contribute to the development of the TON meme coin ecosystem
According to TON, Memelandia is a decentralized space where meme coin communities can thrive, compete and innovate. It offers a unique environment for meme token growth, fueled by the enthusiasm of crypto degenerates.
Memelandia has several key platforms that encourage collaboration and competition among meme coin enthusiasts. One of them is Launchpad Lair, where token deployers can launch new meme coins. Other areas, such as Meme Mountain and Cabal Arena, host meme battles between communities, creators, and merchants. Additional platforms include Community Forest, Memecoin Armory, and Lagoon of Digital Resistance.
On Memelandia, communities compete to grow their meme coins, sales, market cap, engagement, and decentralized exchange (DEX) listings. The most effective communities are rewarded with giveaways and other incentives. The platform will also feature tools for traders and creators, such as trading bots and launchpads. Additionally, it will offer marketing support and encourage community participation in promoting meme tokens outside of TON.
“TON’s strategic position allows it to attract Telegram’s huge audience to cryptocurrencies in general and memcoins in particular. Thus, Memelandia offers a unique space for the growth of meme coins, fueled by the creative energy of degenerates,” TON added.
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Meanwhile, the TON team explained that the move was prompted by the strong communities surrounding these assets. One of the most striking examples of the high activity of meme coins is the history of DOGS. In August, more than 17 million users requested DOGS tokens, bringing the number of single-day transactions to a record 14.4 million, leading to two network outages.
The surge in memcoin activity, coupled with TON’s integration with Telegram and access to the platform’s 900 million users, has greatly increased TON’s popularity. Indeed, TON now boasts over 11.8 million active wallets per month and approximately 693,000 active wallets per day.
Outside of TON, meme coin activity has increased on other networks such as Tron and Solana. Since the beginning of this year, meme tokens have attracted growing interest from cryptocurrency investors and are thriving in ecosystems with lower transaction fees.
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Amid these trends, there are reports that institutional investors and liquid funds may soon enter the meme coin market. Su Zhu, founder of now-defunct Three Arrows Capital (3AC), predicted that the market could soon witness institutional allocation in the sector.
“Having heard about liquid funds that previously rejected memcoins, LPs are now asking why they didn’t catch the move. Institutional distribution of memcoins will likely be the story of Q4 2024,” Zhu wrote on X.
