The Avalanche Foundation invests Culture Catalyst funds in selected meme coins

The Avalanche Foundation invests Culture Catalyst funds in selected meme coins

user avatar

by Max Nevskyi

3 years ago

The Avalanche Foundation, known for its Culture Catalyst initiative launched in March 2022 to support the rights and opportunities of creators in the blockchain field, has announced a new direction for its investments. According to a statement published on December 29 on the X platform (formerly known as Twitter), the foundation intends to invest in "selected meme coins based on Avalanche." This decision is aimed at recognizing and encouraging the culture and joy symbolized by meme coins.

Initially, the $100 million Avalanche project, implemented in collaboration with OP3N, a Web3 chat application, focused on supporting the Web3 creative community. The project funded NFT projects in music, film, entertainment, gaming, and digital art. However, considering the growing interest in meme coins, the foundation decided to expand its priorities to include support for meme coins.

Avalanche states that the criteria for selecting meme coins for funding will be based on various factors, including the number of holders, liquidity thresholds, project maturity, overall social sentiment, and principles of "fair launch." This decision complements the foundation's participation in the crypto ecosystem and reflects its commitment to supporting diversity and innovation in this area.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Circle Releases Technical Guidance for ERC20 Transfers Using CCTP

Circle has published a developer guide detailing how issuers can utilize its CrossChain Transfer Protocol (CCTP) for ERC20 assets beyond USDC.

user avatarAyman Ben Youssef

Curve Finance Launches StableSwap on Stellar Mainnet

Curve Finance has launched its StableSwap system on the Stellar mainnet, marking its first native deployment outside the Ethereum ecosystem.

user avatarTando Nkube

Ondo Finance Introduces Tokenized Investment Portfolios on Solana

Ondo Finance has launched seven investment portfolio tokens on the Solana blockchain for eligible investors outside the US, providing managed exposure to tokenized equities and ETFs.

user avatarKofi Adjeman

Market Implications of Aave's Tokenized Equity Lending Explored

A case study on the market implications of borrowing against tokenized equities following the launch of Aave's V4s Equities Hub, highlighting market liquidity and associated risks.

user avatarNguyen Van Long

Aave Launches V4s Equities Hub for Non-US Investors

Aave has launched its V4s Equities Hub, allowing eligible non-US investors to borrow USDC against selected tokenized US equities.

user avatarSatoshi Nakamura

Polygon Labs Launches New Payment Controls for AI-Agent Transactions

Polygon Labs has launched new payment controls for AI-agent transactions, allowing automated agents to make purchases within defined parameters while managing associated risks.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.