Memes used to be considered social media tools that could go viral and amuse a large audience.
the NFT from then on culture emerged within it. Giving memes an economic value increased their usefulness and gave them a reason to exist more than just a humorous means of communication.
What are NFTs?
NFTs, or non-fungible tokens, are basically cryptocurrency tokens on the blockchain that signify ownership of particular things, and are either tangible or intangible. NFTs can represent a variety of objects, including whiskey barrels, artwork, and music. Unlike fungible assets or currencies (such as Bitcoins or Rupees), where each unit can be exchanged for another, each NFT is different.
Digital photos or movies seem to be the most common type of NFT in recent months. NFT around digital assets games are another common application.
NFT sales came very close to crossing the $25 billion threshold in 2021. Numerous startups and large multinationals such as Facebook and Nike are betting on NFTs.
Non-Fungible Tokens or NFTs are becoming increasingly popular, which has given producers and artists new ways to earn money. As a result, several NFT minting platforms and markets have also been established.
MemeChat is one of those platforms that even allows authors to turn their memes into NFT and benefit financially from them.
MemeChat is a meme creation app that allows users to earn money from their creations. MemeChat has evolved over time to become one of India’s most lucrative apps for GenZ and millennials.
Can you generate income by turning memes into NFTs?
Digital producers can easily convert their files to NFTs using a variety of websites, apps, and startups that offer a platform to do so. TThe typical process begins with choosing a file, followed by creating an Ethereum wallet and adding money. You can join an NFT market Using the wallet and the list, advertise and sell your NFT there.
When you have your desired meme ready, everything goes well. In addition to these options, NFTs can be bought, sold or rented from time to time and, yes, digital assets can be given or acquired for a set period of time and on a monthly basis. Payments by a potential creator or investor. NFTs are becoming more and more popular right now. More and more interested people will come to this place in the next few days. What is fantastic? You don’t need to be artistic or creative to start trading meme NFTs.
What services does MemeChat offer?
MemeChat first launched The Meme Club (TMC). On the website, meme creators, collectors, and other interested parties can buy and sell memes as NFTs.
The main goal of the authors of MemeChat was to discover and use the unrealized potential of memes in cryptocurrency. sectorand this development perfectly represents that goal.
One of the club’s USPs is to guide creators to the true power of meme trends and how to capitalize on them. TMC allows the community to collectively select what should be popular in the future. Because it is backed by the latest technological advancements and has a huge social media following, MemeChat will drive a strategy to bring those memes to a specific viral ergonomic level. Some of the complementary services that TMC provides to its members include online events, NFT airdrops, social events, and more.
How many creators have reaped the rewards from MemeChat so far?
As of June 15, 2022, MemeChat, the larger specialized market in India for coining memes, successfully sold 200 NFTs and generated 20,000 Matic GMV. By coining their memes on the platform, 150 creators have benefited.
How does Memechat translate memes to NFT?
The procedure for setting the original ownership of a meme is quite simple for meme creators using a popular meme on TMC. In MemeChat, memes must be produced. Three criteria (originality, authenticity, and virality) will be used by the MemeChat insider. panel to evaluate creators’ submissions. If a meme meets all three of these requirements, its creator can mint it as an NFT in The Meme Club. A newly created meme is easily marketed through direct sales or auctions.
What does MemeChat do to help users monetize their stuff?
We employ user-generated feedback and promote user-generated material as the foundation of our business model. For each meme created and authorized once it has been submitted, a user can earn between Rs. 5 to Rs. 30. Depending on the type of memes, the payment of each one can vary. A user can receive compensation of Rs. 20 for each meme accepted in a brand campaign by its creator.
This helps the ability of both the brand for content and the ability of our consumers to earn more money.
Memechat has already collaborated with companies like Amazon, Hotstar, and Moj. A minimum payment of Rs. 100 is available on the Memechat app. One can request direct payment to their Paytm wallet and bank balance once they have Rs. 100 in your wallet. In addition to being commended by moderators and other authors, the winner of a Memechat-sponsored contest could also receive a larger prize. On a certain topic, users can send memes.
One of the unique aspects of Memechat is that unlike other platforms where users must gain a significant number of followers over the years, Memechat allows users to earn money right away.
In Memechat, how many users there are?
MemeChat is the largest meme-specific app in the country, with over 30 million memes created on the platform and over 10 million downloads.
In the wake of the global cryptocurrency market crash, do you think NFTs, especially in India, still have a future?
The future of money is in NFT. As interest and investments in the metaverse progressively advance, NFTs will become irreplaceable.
What are the risks of invest in NFT meme?
NFT tokens are susceptible to being copied by hackers, leading unsuspecting people to purchase worthless fraudulent NFTs. Before buying an NFT token digitally, people should know how to verify its authenticity.