The Telegram app meta has hit the mainstream, with Web3 juggernauts setting their sights on top projects in the niche. MemeFi has been working closely with the “traditional” crypto bunch, aiming to innovate in the newly-born Telegram-Meets-Blockchain field.
On [Monday], the company revealed it has completed the fundraise for its Seed Round, gracefully dubbed Partner Round. While the sum is undisclosed, the announcement spilled the names of MemeFi’s core supporters: Consensys Software Inc - through their Linea Ecosystem Investment Alliance, Oddiyana Ventures, Mapleblock Capital, ‘Forj from Animoca Brands’, and NxGen.
MemeFi is a Web3 ecosystem, encompassing an on-chain Social Tech app and a highly popular Telegram clicker app, boasting more than 30M users. Similar to other clicker apps (eg. Notcoin), it allows users to receive virtual rewards via gamified activity and in-app quests, which are expected to be the primary criteria for an airdrop. Telegram apps have created a novel advertising business model, with quests integrating ad placements and tasks from clients.
MemeFi has been closely associated with Linea, the secure zkEVM L2 that empowers dapps to thrive, choosing the blockchain as its network of choice for both the Web3 app and the Telegram app. The link to the EVM world has strongly differentiated the app from its other competitors, leading its user base “into the ether” right in the messenger. Possibly, this, apart from the sheer number of users, was the project’s hallmark that attracted the top names in the industry, including Consensys — the leading blockchain and web3 software company, and backer of Linea.
Still, the future of this kind of apps hinges on their ability to retain their user bases post-TGE. And while alternative solutions like rev share exist, MemeFi appears to follow a different path, with gamification being the primary vision. The all-star lineup shows many in Web3 find it promising.
MemeFi aims at delivering one of the largest community airdrops in crypto history — 90% of total token supply will go to players. The project is expected to list their token on October 9th on leading centralised exchanges. The token has been announced to be in LayerZero OFT format, suggesting MemeFi plans to go omnichain, possibly adding TON or Solana post-TGE.