Meme Factory Markets Digital Collectible Memes Using Bitcoin
A blockchain-based marketplace for digital collectibles has just gone live today. Meme Factory a blockchain platform that is built on ethereum just recently went life, Coin Desk reported. Visitors and users alike can go online and create, issue, and trade rare digital collectibles, so long as they can be proven "rare" and are truly unique.
Meme Factory was created by blockchain startup District0x Network. The company recently raised $9 million on their initial coin offering last August 2017, where the funding was composed of ether (ETH) cryptocurrency. Venture capital firms Boost VC and CoinFund were connected with the company through the fundraising.
District0x explained what can be expected from the platform, hailing it as a "true decentralized collectibles marketplace." They also said that it could be trusted to govern itself ad that it could function autonomously while on the ethereal blockchain.
The website works users--like artists and, perhaps, meme creators--to create "memes" and collectibles that are tokenized. The creations are then subject to scrutiny from the website's "Dank Registry," composed of curators who are holders of the DANK token, the project's coin.
As to what memes appear to be fair game for Meme Factory, the sky is the limit. It can be anywhere from " Spongebob" Meme Toys, the viral "Dancing Pikachu" videos, or even works of art on the Internet. The most famous ones, however, tend to be memes based on famous cartoon characters or icons of pop culture.
Spongebob Squarepants and the characters on his show, for instance, has been famous as a meme factory. Geek reported that Nickelodeon has apparently been monitoring hos the show had become a "meme factory" of its own for a long time. The TV network is marketing official toys based on the characters with a line called "Meme Masterpiece."
As for "Dancing Pikachu," a video had been released of the character dancing as Detective Pikachu. The meme came through a leak which was marked as the "leaked" version of the film, only to show the titular character of the movie dancing to different beats. Nerdist reports that quite a few pop culture videos were also referenced in the hour-and-a-half video.
As for the website Meme Factory, they're obviously keeping tabs of videos of this nature and more. Co-founder Joe Urgo had come out to clarify how the currencies are being operated, saying that there is a system in place. Blockchain and other tokens are allowed, as are all kinds of users that are able to bid and buy because of the currency system.