Memeland, a Web3 Project Built by 9GAG’s Team, Secures $10M Minutes After Going Live

The token sale of Web3 firm Memeland (MEME) hit $10 million in commitments on Thursday just 42 minutes after going live, data shows.

Community members were previously able to complete various activities to enter a waitlist that allowed them access to the sale. As of Thursday, the tokens are pegged to have “No utility. No roadmap. No promises. No expectation of financial return. Just 100% memes.”

Despite being sold out already, the sale is scheduled to continue till Friday morning, when previously waitlisted users could gain access to the tokens.

Memeland was built by the team that founded 9GAG, a popular meme-sharing and news site seeded by influential investors, such as YCombinator. It offers several non-fungible token (NFT) and developed applications merging metaverses, gaming and NFTs.

Metaverses refer to virtual lands that operate on a blockchain, usually using a token for transactions.

As per public details, some upcoming Memeland platforms are travel service Holders.com, video sharing service GMGM.com, crypto staking application Stakeland and Petsland, a pets-focused service.