2 years ago
The latest NFT marketplace has raised $4,206,900 to tokenize and fractionalize the internet’s dankest memes.
Dank Bank, arsenic it’s known, raised the wholly coincidental pre-seed sum from pb backers Mechanism Capital, Samsung NEXT and Balaji Srinivasan, a property merchandise said.
The marketplace sells fractionalized non-fungible tokens of iconic moments to compensate creators portion gathering assemblage done shared ownership.
Harry Jones, the erstwhile caput of markets astatine blockchain-based accusation markets level Polymarket, said Dank Bank wants to dismantle the “collective of elites” who ain uncommon assets by distributing the ownership among fans done fractionalization.
“You know, astir radical are going to recognize, like, Pepe the Frog and signifier a much idiosyncratic narration with it past will, like, a Rembrandt. A batch of the creation that we deliberation is the astir invaluable successful today's nine is simply a batch little culturally important than the biggest memes,” said co-founder Prez Thomas.
One large meme tin spawn 10,000 Pepes.
“The meme system is the top usage for fractional NFTs,” Jones said. “We tin yet unlock the quality to put successful contented arsenic a collectible.”
Fractional NFTs let for shared ownership of 1 integer asset. After creators mint an NFT, they conception it into smaller tokens for acquisition by aggregate owners, alternatively of conscionable one.
The marketplace for fractionalized memes is not unsocial to Dank Bank. September’s grounds DOGE NFT sale for 11,000 ether showed request for shared ownership of culturally iconic content. This “meme economy” was kickstarted by the 300 ETH merchantability of the Nyan Cat successful February 2021.
Dank Bank volition walk its funds snapping up the intelligence spot of assorted “culturally iconic” and exceptionally viral memes with which to banal its marketplace, said Jones. It volition promote creators to database the NFTs themselves, for which they volition person 100% of the profits.
Dank Bank volition cross-check creators against their real-world identities, arsenic good arsenic their “copyright documentation” to marque definite they really ain the rights to the memes, according to Jones.
Dank Bank operates connected Ethereum, and volition soon adhd Polygon, too.
“Dank Bank plans to subsidize the state costs for traders” connected Polygonsaid Jones.
CoinDesk reached retired to investors to corroborate information successful seed-funding but determination were nary responses by property time.
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