Meme.com All Set to Conduct IDO on Polkastarter
Meme.com is poised to conduct its initial DEX offering (IDO) on the decentralized fundraising platform Polkastarter.
Meme.com to Conduct IDO on Polkastarter
Imagine if Wikipedia and Dogecoin had a baby, that is exactly what Meme.com is, and a lot more.
In a recent announcement, Meme.com – the home of meme markets and trend exploration – announced the IDO of its $MEM token on Polkastarter. For the uninitiated, Polkastarter enables projects to raise funds in a decentralized and interoperable environment.
These factors, in fact, are significant for the desired launch of the $MEM token which makes Polkastarter the ideal platform for fundraising.
Specifically, Meme.com uses cryptocurrencies and entertainment to gauge the value of internet content. The project recently raised $5 million from blockchain-based venture capital funds such as Outlier Ventures, Digital Finance Group, Morningstar, Blockhype, Spark Digital Capital, and others.
In addition, Meme.com received extra funding from angel investors such as Gabby Dizon, CEO of Altitude Games, and Sandeep Nailwal, Co-founder of Polygon. The exact IDO details are slated to be announced soon.
Commenting on the development, Venture DAO noted:
“We are proud investors in Meme.com. We are bullish on meme markets and the project stood out because they are an early NFT project with forward and long term thinking founders. We look forward to supporting Meme.com and what’s to come!”
Utilities of the $MEM Token
There are several utilities to the $MEM token in the Meme.com ecosystem.
Through $MEM, users can purchase mTokens in the meme markets, create and upgrade Marble cards, pay for platform fees like content submissions, stake their tokens for attractive yields, and participate in platform governance.