The last few weeks have been less kind to meme coins and their owners. Nervous investors watched FTX’s sudden and catastrophic implosion drain billions of dollars from the memecoin market.
This is on top of what most of the top memecoins did poorly in 2022 already. Most other memecoins are in a similar position.
That being said, you would think it would not be the perfect time to launch a new crypto project focused on memecoins. We are a new memecoin-focused Layer 1 blockchain ecosystem that aims to buck the recent loss trend that currently dominates the market by directly addressing the high-risk nature of memecoins. The funny thing is, I have good reason to believe that I can.
To illustrate, here’s an overview of Proof Of Memes and why it’s uniquely positioned to reignite the meme coin sector for 2023.
Programmable PoW Meme Coin Blockchain
The first and most important thing to know about Proof Of Memes is that it is a fork of Ethereum. But more importantly, this is a fork of Ethereum’s pre-merge Proof of Work (PoW) codebase. it’s not an accident. The sudden idleness of millions of miners around the world saw it as a rare opportunity to create new projects without worrying about computing power.
Since Ethereum switched to Proof of Stake (PoS), these miners have lost a ton of money. By combining proven moneymakers like Meme Coin (despite recent performance) with an established mining force, Proof of Memes hopes to build immediate momentum to pull the project into its fold. I am aiming.
Supporting our mission is the fact that a blockchain called Proof Of Memes or Pomchain is compatible with the Ethereum virtual machine. This means that many existing meme coin projects can migrate with little trouble. It also means that new projects can draw from the supply of developers who already understand how the underlying technology works.
List of services and utilities
It’s also worth pointing out that our developer team isn’t content with being just a blockchain provider. We are also building a suite of services and utilities designed to allow investors and developers to participate with confidence. We have already launched his Memescan.io, the official block his explorer for Pomchain. We also partnered with Empire Capital to build an on-chain DEX called Pomswap.
But our team doesn’t stop there. We are also building a launchpad service named Pompad with built-in mandatory KYC features and various other security features. The idea is to provide a safe place to fund and launch new memecoins and related projects, while also protecting investors from ragpulls and other common scams.
Combined, these features make Proof Of Memes a one-stop-shop for meme coin projects. There, you’ll find an interested audience, all the financial tools you need to get started, and a blockchain with plenty of developer benches. All in all, it makes for a compelling value proposition. If only our arm at Proof Of Memes was that much, that alone would be impressive. But that’s not all.
Launch-related NFT sets are generating a lot of interest
Proof Of Memes also has a design to facilitate crossovers between the meme coin market and the NFT and gaming space. For that, I started the project with two sets of NFT collections. The purpose was to raise funds for the development of the platform. The first set, called LaunchBox, contained 10 unique premium NFTs. The second was called LaunchPack and had 490 additional designs. Both owners got a 20-30% discount on future pre-sale launches for him through the Pompad launchpad platform. He will also receive his VIP invitations to upcoming exclusive events the project has planned for him in 2023 and beyond.
Two NFT sets sold out almost immediately, raising over 400 ETH for ongoing projects. But most interestingly, both the launch of the project and the sale of the NFTs happened without the team doing any marketing. The demand for NFTs and the interest people have already shown in Proof Of Memes is completely organic. As such, this sale provided positive evidence that we have an audience that is passionate about what we hope to achieve.
Memes Native Token Proof
At launch, we also debuted an ETH2.0 governance token on the Ethereum blockchain. The aim was to raise funding for the project before Pomchain officially launched. ETH2.0 holders are eligible to receive an airdrop of her coin, which is a major native of the platform called POM. It is the primary currency of the Proof Of Memes ecosystem, just like ETH is on the Ethereum blockchain. In addition to receiving POMs, ETH2.0 holders can exchange her ETH2.0 tokens for her POMGs. POMG is the governance token of the Proof Of Memes platform.
With the switch to the new blockchain, Pomchain will become completely self-sufficient and disconnected from Ethereum. In other words, this marks the true birth of a memecoin-centric blockchain like no other.
The bottom line here is that they picked a pretty good time to launch their project. By offering retired Ethereum miners a viable alternative to a complete shutdown, we were able to gather momentum for the project without having to manufacture it through marketing. It also garnered enough attention from the community to fuel the rapid sell-out of his NFT collection of projects, raising significant development funding in the process. The list of developers looking to migrate their projects and resources to his Pomchain is impressive.
If this string of early successes is any indication, there’s good reason to believe that Proof Of Memes has a bright future. As it continues to develop, there is no doubt that it has the power to pull both established and early memecoin projects into its orbit. , so it bodes well for those lucky enough to be early adopters of the project.
POM can be traded on MEXC.
Stay tuned for the next article where we will discuss the tools and utilities we are building, as well as the exciting projects we are launching to bridge the Proof Of Memes blockchain.
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