DWF Labs, a Dubai-based Web3 investor and market maker, has launched a $20 million fund to help meme coin tasks.
The fund goals to again artistic, community-driven crypto tasks selling inclusivity and interoperability.
DWF Labs’ Influence on the Meme Coin Market
The DWF Labs fund supplies monetary sources and strategic help to meme cash that show robust group engagement, distinctive worth, and world potential. By taking a chain-agnostic method, it goals to empower creators no matter their blockchain.
The meme fund is open to purposes from promising meme coin tasks who’re looking for funding and steering. events can submit their proposals by way of the DWF Labs web site.
“Meme cash are a strong cultural drive throughout the crypto panorama, usually uniting communities round shared humour and creativity. The Meme Fund is our manner of supporting this vibrant sector and enabling builders and communities to show their concepts into impactful tasks,” Andrei Grachev, Managing Accomplice at DWF Labs, advised BeInCrypto
DWF Labs has already labored with a number of profitable meme cash like Floki, Turbo, Simon’s Cat, and Neiro Ethereum. Lately, DWF Labs partnered with Turkish web persona Hasbulla and NikolAI, additional increasing its portfolio of meme-based tasks.
Their group collaborated with Hasbulla to create a brand new token impressed by his cat, Barsik. The blockchain challenge concurrently helps cats’ welfare, incorporating it into an ongoing charity initiative. Though it introduced the token on November 14, its worth peaked at $0.33 simply three days later earlier than barely dipping once more.
BARSIK Value Efficiency. Supply: CoinGecko.
Unsurprisingly BARSIK, named in honor of Hasbulla’s late cat, skilled a right away value surge. These sorts of spikes are frequent with new token releases, however whether or not BARSIK can sustain the momentum in the long run is one other story. On the time of writing, it’s buying and selling at $0.22 with a $226 million market cap.
Afterward, Onchain Lens reported that one dealer spent $142 to buy 11.63 million BARSIK on Pump. enjoyable. Their tokens at the moment are value $2.5 million.
Within the broader view, the meme coin market has been experiencing a current mania following Donald Trump’s re-election into the presidential workplace. As an oblique results of election day, your entire cryptocurrency market has been having fun with an aggressive bull run.
Meme Coin Market Cap Efficiency. Supply: CoinMarketCap.
Meme cash, extra particularly, had a complete market cap of $56 billion the evening earlier than the elections. On the time of writing, it has surpassed $118 billion.
