MemeChat to make a dedicated NFT marketplace for memes

MemeChat to make a dedicated Indian NFT marketplace for memes. Let’s find out more details about this Platform and its plan for the marketplace.

Introduction

NFTs ruled the last year. 2021 was arguably the year of NFTs. Many companies and individuals jumped on NFTs to capitalise them for making some good money. Now, a meme Platform from India, MemeChat is jumping on the NFT train.

About MemeChat

MemeChat is a Platform where a user can create and share memes. MemeChat, recognising the potential of NFTs has announced that it will launch the ‘Meme Club’. A Platform that will allow meme makers of ‘memers’ to monetize their memes with the help of NFTs.

MemeChat’s NFT venture

Now, MemeChat users can purchase and sell memes all over the world.

The company said that after the owner of the meme is identified on the platform, the creator will have the option to register the meme as an NFT.

After which, the meme creator can sell the meme NFT on the platform’s marketplace by direct sale or through an auction.

CEO’S comments

Kyle Fernandes, the CEO and also the co-founder of MemeChat, in a statement revealed the company’s plans of venturing into the NFT market. He said, “as NFT is at a very nascent stage in India, we will ensure that we educate the audience on the power of the platform in the first few months. We chose the blockchain ecosystem to make sure that all transactions remain transparent and efficient.”

MemeChat’s performance and analytics

Analytics by the website say that the company has almost 1 million active users visiting the Platform monthly. Additionally, the MemeChat app has more than 4 million downloads.

The company is still relatively young, formed in 2019. Created by Kyle Fernandes and Taaran Chanana, the platform allows users to create memes and make money out of it.

The Platform quickly grew and has gained quite some popularity among young meme makers or ‘memers’. The popularity of the company made it a well known platform among the younger audience. The company has now worked with many famous Indian OTT platforms like ALT Balaji, Hotstar, and Amazon Prime.

MemeChat’s Meme Club

MemeChat’s Club will give users an array of resources like online events, NFT airdrops, meme community gatherings and much more.

The new platform is also meant to target businesses who want to use Memes to market their products. Now, the creators will get paid for the use of their meme for the marketing campaign of the business. The Platform will also be attracting Crypto investors who want to cash in on the profitability of NFTs and make some good money off it.

Conclusion

MemeChat to make a dedicated Indian NFT marketplace for memes. Now this is definitely a good news for the Indian NFT and meme community. Let’s see how this will fair in the future.

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