Meme Power – MemeFarm is bringing the memes to NFTs & DeFi
Mark Berisha is the CEO of APECoin and the MemeFarm and BustAbnb ecosystems. APECoin embraces the humor and viral nature of memes to bring new participants into crypto. Apecoin is developing a game called “Bust-a-BNB” for Binance Smart Chain (BSC). An airdrop will occur for existing APE holders on March 14. GO APE!
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Why you should listen:
The exponential growth of DeFi in the past nine months has sparked a flood of experimentation in smart-contract and Dapp design. The APEcoin Dev team realized the world is already farming memes, and created MemeFarm.io to get involved.
Non Fungible Tokens (NFTs) can extend digital scarcity beyond currency to art, music, and design — any other form of expression that can be digitized. Suddenly, the control of scarcity and the ability to create a single verifiably unique version of anything digital is in the hands of the artists and creators where it belongs.
Today, artists and makers have few choices as to how they commercialize their NFTs. They can either find buyers themselves or set up an auction through platforms like Rarible — where their success will depend on how well they market their creations and how hard they work to establish a market price.
Mark says there is a better way. They could bootstrap the price discovery through a novel curation farming mechanic. Mark calls it the NFT DAO, and it could revolutionize how these trends interact on a whole new level.
NFT DAO offers a new choice to makers and artists:
- They can submit their NFTs to the NFT DAO. MemeFarm token holders vote to accept or reject submitted NFTs.
- The artists of the accepted NFTs then receive their share of NFT DAO’s monthly rewards. And the farmers compete to ‘mine’ those NFTs.
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