The Open Network (TON) has launched Memelandia, a decentralized hub aimed at expanding its meme coin ecosystem. This initiative leverages TON’s integration with Telegram to enhance meme activity on the platform.
The launch comes as meme coin activity on other blockchain networks has sparked heightened interest in these digital assets.
How Memelandia Will Boost TON’s 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 tokens to grow, fueled by the enthusiasm of crypto degens.
Memelandia features several key platforms that encourage collaboration and competition among meme coin enthusiasts. One of these is Launchpad Lair, where token deployers can launch new meme coins. Other areas, such as Meme Mountain and Cabal Arena, host meme battles among communities, creators, and traders. Additional platforms include Community Forest, Memecoin Armory, and the Lagoon of Digital Resistance.
On Memelandia, communities compete to grow their meme coins, driving volume, market cap, engagement, and decentralized exchange (DEX) listings. Top-performing communities are rewarded with airdrops and other incentives. The platform will also highlight tools for traders and creators, such as trading bots and launchpads. Additionally, it will offer marketing support and foster community engagement to promote meme tokens beyond TON.
“TON’s strategic position allows it to onboard Telegram’s massive audience into crypto in general and memecoins in particular. Memelandia, therefore, offers a unique space for meme coins to grow, fuelled by the creative energy of degens,” TON added.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
Meanwhile, TON team explained that the move was driven by the strong communities surrounding these assets. One notable example of high meme coin activity came from DOGS. In August, over 17 million users claimed DOGS tokens, resulting in single-day transactions reaching a record 14.4 million, causing two network outages.
The surge in memecoin activity, coupled with TON’s integration with Telegram and its access to the platform’s 900 million users, has significantly boosted TON’s popularity. Indeed, TON now boasts over 11.8 million monthly active wallets and around 693,000 daily active wallets.
Outside of TON, meme coin activity has surged across other networks like Tron and Solana. Since the beginning of this year, the meme tokens have attracted growing interest from cryptocurrency investors and have thrived on ecosystems with lower transaction fees.
Read more: What Are Telegram Mini Apps? A Guide for Crypto Beginners
Amid these trends, there are reports that institutional investors and liquid funds may soon enter the meme coin market. Su Zhu, the founder of the now-defunct Three Arrows Capital (3AC), predicted that the market might witness institutional allocation to the sector soon.
“Hearing liquid funds who had previously rejected memecoins are now being asked by LPs why they haven’t caught the moves. Institutional allocation to memecoins is likely to be the story of q4 2024,” Zhu wrote on X.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.