Avalanche Foundation to Hop Onto the Meme Coin Train, Announces Investment in Selected Projects

The Avalanche Foundation, an instauration that funds avalanche initiatives, has precocious announced that it volition commencement investing successful meme coins. These purchases volition beryllium made utilizing funds from the $100 cardinal Culture Catalyst money launched successful 2022, and the tokens volition beryllium selected based connected their fig of holders, liquidity thresholds, and task maturity, among different elements.

Avalanche to Invest successful Meme Coins Using $100 Million Culture Catalyst Fund

The Avalanche Foundation has announced that it is taking a presumption successful meme coins. In a caller X post, the instauration revealed that it volition put successful selected meme coins, broadening its portfolio arsenic portion of a broad determination to clasp “a much implicit spectrum of possibilities.”

This concern volition beryllium made utilizing Culture Catalyst, a money launched successful 2022 during the Avalanche Summit successful Barcelona. The instauration volition usage portion of the $100 cardinal fund, initially focused connected “helping to cultivate and enactment the galore caller forms of creativity, culture, and manner that blockchain enables,” to acquisition these tokens.

The instauration remarked connected the relevance of this benignant of token successful today’s crypto market, stating that they “go beyond specified inferior assets; they correspond the corporate tone and shared interests of divers crypto communities.” The meme tokens to beryllium portion of Avalanche’s investments volition beryllium selected based connected their fig of holders, liquidity thresholds, task maturity, principles of a just launch, and wide societal sentiment, among different aspects.

Emin Gün Sirer, laminitis and CEO of Ava Labs, recognized that, astatine first, helium could not recognize the entreaty of meme coins. Nonetheless, this has changed, and helium present recognizes the worth of these tokens arsenic portion of the crypto ecosystem. He stated:

It took maine a portion to spot the worth of memecoins myself. I wasn’t blessed erstwhile Elon was pumping Doge. It besides took a portion for maine to spot the worth of high-end NFTs. But I present recognize the taste value of coins that are conscionable societal signaling mechanisms.

The meme coin system experienced important maturation this month, reaching a marketplace headdress of astir $24 cardinal connected December 9.

What bash you deliberation astir Avalanche’s determination into meme coins? Tell america successful the comments conception below.