DWF Labs, a Dubai-primarily based completely Web3 investor and market maker, has launched a $20 million fund to abet meme coin tasks.
The fund goals to aid creative, neighborhood-pushed crypto tasks selling inclusivity and interoperability.
DWF Labs’ Impact on the Meme Coin Market
The DWF Labs fund offers monetary sources and strategic abet to meme coins that explain stable neighborhood engagement, odd price, and world capacity. By taking a chain-agnostic system, it goals to empower creators no topic their blockchain.
The meme fund is initiate to functions from promising meme coin tasks who’re searching for funding and guidance. parties can publish their proposals thru the DWF Labs web voice.
“Meme coins are a highly effective cultural power at some level of the crypto landscape, in most cases uniting communities around shared humour and creativity. The Meme Fund is our system of supporting this shiny sector and enabling developers and communities to show their ideas into impactful tasks,” Andrei Grachev, Managing Partner at DWF Labs, suggested BeInCrypto
DWF Labs has already worked with loads of profitable meme coins esteem Floki, Turbo, Simon’s Cat, and Neiro Ethereum. Recently, DWF Labs partnered with Turkish web personality Hasbulla and NikolAI, further expanding its portfolio of meme-primarily based completely tasks.
Their crew collaborated with Hasbulla to construct a new token impressed by his cat, Barsik. The blockchain mission simultaneously helps cats’ welfare, incorporating it into an ongoing charity initiative. Even supposing it announced the token on November 14, its price peaked at $0.33 correct three days later before a bit dipping yet any other time.
Unsurprisingly BARSIK, named in honor of Hasbulla’s late cat, skilled a straight away mark surge. These kinds of spikes are standard with new token releases, nonetheless whether or no longer BARSIK can hang the momentum in the prolonged time duration is one other legend. On the time of writing, it is trading at $0.22 with a $226 million market cap.
In a while, Onchain Lens reported that one vendor spent $142 to aquire 11.63 million BARSIK on Pump. enjoyable. Their tokens are now price $2.5 million.
Within the broader watch, the meme coin market has been experiencing a recent mania following Donald Trump’s re-election into the presidential build of labor. As an indirect result of election day, the complete cryptocurrency market has been playing an aggressive bull flee.
Meme coins, more namely, had a full market cap of $56 billion the night before the elections. On the time of writing, it has surpassed $118 billion.
