The BNB Chain ecosystem team has announced a campaign to support meme coin inventors with a $1 million prize fund.
Participants in the Meme Innovation initiative must deploy a meme coin on the BNB Smart Chain (BSC) and apply by the end of April 9. The competition will run from April 10 till May 9.
The prize fund will be calculated by the overall trading volume of qualified meme tokens during the competition period, which may exceed $1 million. The overall trading volume of qualified memes during the competition period determines the total sum. BNB Chain Announcement:
“The dynamic prize pool can reach up to $1M USD, with the final amount determined by the total trading volume of the qualified memes during the competition period.”
The winners will be announced on May 16. The awards will be sent to their wallets within three weeks of the campaign’s conclusion. For several months, meme currencies have gained traction in cryptocurrency.
Recently, Arthur Hayes, co-founder of the cryptocurrency exchange BitMEX, stated that meme tokens could benefit the blockchains on which they are established.
Vitalik Buterin, the co-founder of Ethereum, expressed disinterest in meme money. Buterin invited developers to design tokens that benefit society or may be used for charity.
Analysts from investing firm Franklin Templeton also revealed their findings on meme coins. Experts observed such coins’ strong association with native blockchains and their impact on network activity.
Despite the vagueness of opinion leaders’ opinions, news of successful deals involving the category above of assets has periodically circulated in the community. With the new coinage, traders can turn a few bucks into hundreds of thousands.
