The non-fungible token (NFT) craze is showing no signs of slowing down despite a crypto market correction. The new Nifty’s platform is getting some big investments.
In an announcement on March 23, the MEME NFT protocol introduced its sister company — Nifty’s. The announcement also coincides with the launch of Nifty’s.
Nifty’s is an NFT-focused social media platform that brings together publishers, brands, and creators with collectors, curators, and fans.
The new platform already has some big backers. These include Mark Cuban, Joseph Lubin, Tim Draper, Polychain, Liberty City Ventures, and NFT whale ‘0xb1’ among others.
BIG NEWS Announcing our sister company: @Niftys
With investment from @mcuban @ethereumJoseph @biz @polychaincap @0x_b1 & others
Nifty's buys into $MEME, expands the MEME universe, and will leverage the MEME token going forward.https://t.co/JUeRSufUTL
— $MEME (@DontBuyMeme) March 23, 2021
Farming NFTs
MEME was launched during the 2020 DeFi boom as a way for collectors to farm NFTs in pools. This also allowed users to earn its native token, Pineapple, to redeem more crypto collectibles.
The protocol will benefit from the partnership and new launch with additional resources to be channeled into product development.
MEME token holders will get a number of benefits. These include early beta access to Nifty’s products, exclusive access to community channels and special events, and unique Nifty’s NFTs.
MEME also announced its v2 launch which will go live on April 12. This version introduces a more streamlined NFT farming experience, improvements to user experience in artist discovery, and greater platform flexibility. So, this should give artists more control over their drops.
After the v2 launch, the team has started working on Layer 2 scaling solutions. It also developed advanced tokenomics, community curation, and further decentralization of the protocol.
The Nifty’s launch announcement on March 23 stated that the project has been led by co-founder and CEO Jeff Marsilio, former SVP of new media at the NBA.
Marsilio stated:
“Our vision for Nifty’s is to enable anyone with a passion for digital collectibles to be a part of a vibrant community and engage in an exciting new art scene filled with galleries and personal interactions that are unconstrained by the limitations of physical location,”
The Nifty’s platform will officially launch later this spring, it added.
MEME Token Price Surges
MEME’s native token has skyrocketed 31% over the past 24 hours to trade at $3,670 according to CoinGecko. It is just shy of its all-time high, posted on March 12, of $3,730.
Over the past seven days, the token has made 18%. It cranked a whopping 140% this month as the NFT frenzy continues to dominate markets.
There are 25,567 tokens circulating out of a maximum 28,000 giving it a market capitalization of $88 million.
