Non-fungible tokens or NFTs have emerged as the biggest trend in the blockchain industry due to their remarkable applications in different fields. For example, NFTs have had a transformative effect on digital art and gaming, enabling creators to tokenize their works and gamers to earn while gaming.
Since NFTs create value due to their rarity, there’s a massive demand for these digital assets providing collectors with an opportunity to flip them for profits in the secondary market.
This growing popularity has had its effect on the market. The average monthly trading volumes of NFTs spiked from $65 million in the first half of 2021 to over $700 million in the second half. Moreover, the boom shows no signs of slowing down.
The NFT sector is primarily community-driven and currently lacks many platforms that allow projects to interact with community members closely for mutual benefits. However, Meme Cake, an innovative blockchain-based project, is set to solve the problems uniquely.
Building a social NFT ecosystem
Meme Cake is a social NFT multi-chain platform where communities can promote projects and participate in sales at an early stage. The NFT sector is a highly competitive space. Therefore, communities can gain an advantage by taking part in early sales of NFTs from trusted brands listed on Meme Cake.
Also, Meme Cake provides maximum exposure for NFT creators and projects that can mint or list their creations on the platform. As a social NFT platform, active members holding MCAKE tokens can become part of the DAO which can be leveraged to promote projects within the Meme Cake ecosystem.
Meme Cake has also added security features to ensure that all projects launched within its ecosystem are safe and rug-proof. In addition, each project and its milestones are vetted by Meme Cake DAO. This measure means that community members can safely take part in the early-stage purchase of NFTs without fearing losing their assets.
Powered by a unique utility token
Its native utility token, MCAKE, powers the Meme Cake ecosystem. MCAKE is built on the Solana blockchain, ensuring quick and low-cost transactions.
Meme Cake provides value to MCAKE holders who can access different products and rewards. It is similar to BNB in Binance, and holders will reap many benefits, including discounted trading fees and much more. Furthermore, crypto enthusiasts will be able to earn MCAKE via marketplace mining, staking, platform engagement, public sales, secondary market sales, and more.
MCAKE will initially be traded on popular Solana DEX Raydium but will eventually be listed on other centralized and decentralized exchanges.
Interestingly, MCAKE is already gaining popularity as the $MCAKE token has been listed under a popular DEX called Aldrin (https://jup.ag/swap/SOL-MCAKE). For more info, you can visit Solscan.
Meme Cake genesis NFTs
Meme Cake has already launched its genesis NFT collection called ‘’RICH’’ which can be purchased fromEntrepot, the NFT marketplace of the Internet Computer (ICP).
Rich NFTs is among the top 10 traded NFTs on Entrepot and has reached almost 20,000 ICP ($400,000) in trading volume.
NFT collectors and investors can easily purchase the collection by generating a wallet atstoicwallet.com then fund their wallets from exchanges. After which, they can connect their wallets toEntrepot and finally purchase RICH NFTs.
Meme Cake genesis NFT holders will get many benefits, including staking rewards, participating in the proof-of-burn mechanism for MCAKE, and a 1:1 airdrop of the upcoming ICY Pete airdrop (Meme Cake genesis NFT on Solana) and future airdrops.
Meme Cake NFTs have different values based on the NRI% rarity index indicated on the Entrepot marketplace. The higher the NRI% for their NFT collection, the more MCAKE users can earn during the NFT burn process.
Furthermore, the more NFTs a holder burns to acquire MCAKE tokens, the higher the chances of becoming a validator. Validators get voting rights and extra incentives, including attractive trading rewards, guaranteed whitelisting of upcoming projects, and more.
Key partnerships within the blockchain industry
Meme Cake has partnered with some of the top blockchain projects, including Chainlink Labs and Solana. It was also a recipient of a $50,000 grant from the Dfinity Foundation, which governs Internet Computer Protocol.
The NFT platform has also experienced massive growth within its community. It has an active presence on social media as one of the most discussed NFT projects.
More developments on the Horizon
Meme Cake has already confirmed a suite of products that it intends to launch in the coming weeks. In addition, it recentlyannounced its genesis platform project called Meta Rail – a Play-to-Earn game built on Solana.
Meta Rail is expected to launch in Q4 2022 and will have a total NFT supply of 10,000. Meme Cake has vetted the Meta Rail team, and all NFTs will be fully hosted on Internet Computer (ICP). This development would further promote the philosophy of Internet Computer Protocol for achieving blockchain singularity.
Meta Rail has already begun private sales, and interested participants can take advantage of this to become early holders of NFTs ahead of the game launch. To learn more about Meme Cake, follow the links below:
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