Blockchain-based Meme Factory is about to launch

Meme cryptocurrency scaled

Meme Factory, which is an Ethereum-based digital collectibles website will be launching today. By using the platform users will be able to get their hands on rare digital collectibles through a blockchain-supported platform and trade it between one another.

The platform has been heavily marketing itself as a truly decentralized and independent platform that will not be influenced by market movements as well as investor sentiment.

According to already released details, the company is aiming to provide opportunities for internet lovers to create their favorite memes and then submit them on the platform. The platform will then tokenize these memes, and if considered worthy, will dub them as Dank Registry. Once the meme has been considered by the admins of the platform, who are the main token holders, a decision will be made whether or not the creator deserves to be awarded for his or her work on the meme. Once the meme is public, collectors will be able to purchase those memes using ETH, ultimately earning the creator and the platform extra income.

Sounds a bit weird for cryptos

The company has said that their main aim is to form communities and help them create an income source from something they love. However, profiting from something like memes have only been possible on Instagram, due to added ads on the pages. But most users still prefer to visit Reddit as their main source of memes.

Nevertheless, there will be some traffic on the website considering the community’s respect for quality memes. In fact, it is expected that the whole subreddits will move over to the platform in order to remunerate creative artists.

Memes will be issued in a limited number while existing memes can be traded and resold on a secondary market.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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