With the launch of Memeland and $MEME token during the Age of Great Navigation, can we find our own ONE PIECE?

Author: Yinan

Background:

A long time ago, Memeland was abandoned due to its inhospitable conditions, leaving behind golden treasures forged on this land, waiting for people to discover them. After a while, early life forms began to appear, such as potato-like creatures roaming the land. And then it happened when captains and their pirate crews explored the shattered seas to find the lost treasure!

Introduction:

Memeland is a brand and community built around NFTs, developed by the 9GAG team, which will continue to launch functions such as $Meme tokens and community creator economics in the future.

Team:

9GAG was founded in 2008 and is headquartered in Hong Kong. It is a user-generated content website, including user-generated videos, categories include fails and pranks, comedy, games, cute, movies and TV, music, etc. Its mission is to make the world happier.

Currently, 9GAG has over 200 million fans on its website, app, Instagram, Facebook, Twitter, TikTok and other media, with a monthly traffic of 400 million. It has received investments from capital firms such as Greycroft Partners, True Ventures, Y Combinator, and 500 Startups.

Founder: Ray Chan

Ray is the co-founder of 9GAG, one of the world’s leading user-generated content websites, and he focuses on building sustainable businesses through humor. 9GAG is a Y Combinator and 500 Startups alumnus, and Ray and his team spent a lot of time in Silicon Valley learning from the best.

Before founding 9GAG, Ray was dedicated to Singboard, an online karaoke game. He also served as a product manager for the online reading community aNobii, which was acquired by a new company supported by HMV Group, Harper Collins, Penguin, and Random House in 2010.

Memeland Advisors:

Includes American entrepreneur Gary Vaynerchuk, Moonbirds founder Kevin Rose, etc.

Product:

YOU THE REAL MVP

Release date: June 2022

Circulation: 420 pieces

Release method: It was sold for a high price of 5.3 ETH in the form of “blind auction” at that time, and the floor price is now (July 13, 2023) 49.69 ETH

Equity: MVP represents a high-level member of Memeland, including private access to the MVP lounge in Discord, priority naming rights, NFT airdrops, IRL activities, and other collaborations specifically for MVP members.

The Blockingtatoz

Release Date: July 2022

Release Quantity: 9999 cards

Release Method: Freemint, currently (July 13, 2023) 1.689 ETH on the floor

Benefits: Potatoz represents the basic level membership of Memeland; it includes participation in $MEME, whitelist, NFT airdrops, and IRL events!

The Captainz

Release Date: January 2023

Release Quantity: 9999 PFPs

Release Method: Users need to deposit 1.069 ETH on the minting page, and after the 48-hour bidding deadline, it will be determined whether they can obtain the NFT. In addition, if you hold three “The Potatoz,” you can get priority to mint the whitelist. Currently (July 13, 2023), the floor price is 5.7 ETH

Benefits: Captainz represents the top membership of Memeland; Captainz has many benefits, the two most anticipated of which are $MEME and Treasure Islandz.

Category: Captainz has different races, and different races have different rarity

Rarity ranking is: Alien > Kong > Kaiju > Kraken > Shark > Human

Gameplay Design:

Pledge System

On August 6, 2022, 9GAG launched the “GROW-TO-WIN” (pledge) system and pledge website, where users can pledge their MVP, Catptainz, and Potatoz on the official website.

When holding MVP, you can increase the bonus for obtaining props.

The holder of MVP has different treasure map bonuses according to the probability of the pledge combination. The official combination probability table is as follows:

Image source: @Aizcalibur

When holding Catptainz, participate in the pledge and you can get a “treasure map” every seven days. The “treasure map” is also divided into five rarities in the order of Mythical>Epic>Magical>Extraordinary>Special
When holding Potatoz, participate in the pledge, and you can get a “valuable item” every seven days. The “valuable item” is divided into five rarities, and the rarity order is Dark>Ivory>Cherry>Kiwi>Sand

Image source: @Aizcalibur

There are also two identity groups: [Super Crew] and [Full Crew]. You can have the opportunity to get “medicine props” every Monday, the conditions are as follows:

If you hold 1 MVP+ and 9 Captainz and 27 Potatoz at the same time, you can become a Super Crew
If you hold 1 Captainz and 3 Potatoz, you can become a Full Crew

Assault gameplay

You can steal other Captainz’s maps, but your maps can also be stolen by other Captainz.

In Season 1, Captains gain experience after each assault and have a 45% chance of winning special or extraordinary maps. There is a 48.1% chance that the map will be lost to other Captains, and a 6.9% chance of losing (Burn) the map in battle.

All participants who win assault points will receive some loot at the end of the season. The more points you get, the bigger the loot! There is also an additional chance to get the airdrop “Treasure Chest” (according to the ranking)

Picture from: @Aizcalibur

Future plans:

The team is developing multiple plans. First, Captainz’s crew has a maximum of 2-3 Potatoz pirate teams and gets Treasure Mapz. The Memeland team is also developing Treasure Islandz. In the actual Memeland plan, the details have not been announced yet, but it looks like a web3 adventure game for Captainz and Mapz owners.

Memeland has also revealed long-term development plans in addition to short-term updates, and has applied for domain names to pave the way for future products. The CEO of Memeland has emphasized more than once that Memeland does not just want to make an NFT project, but wants to make a whole web3 and crypto product with very strong ambitions to cover the entire industry. For this purpose, they have registered the following domain names:

PFP.com
Holders.com
petsland.com
Stakeland.com
Memeland.com
GMGM.com

Currently, most of these domains have not been officially launched. The company announced that it will build some SocialFi products, which is directly related to the several domains that were purchased with large sums of money.

Holder.com -> Build a triBlockingdvisor for the web3 era (entry website)
PFP.com -> Fan Protocol Proof, similar to POAP (brands or KOLs can issue commemorative certificates to reward fans)
GMGM.com -> Create OnlyFans for the web3 era (with clothes on)
Stakeland -> Staking website for the memeland ecosystem

In an interview with the founder in April 2023, JPEG asked Ray: What is the long-term vision for building Memeland?

Ray replied as follows:

After working on social media or community-based products for 15 years, I feel that the previous business model did not really play a role because the incentive mechanisms of the audience, advertisers, platforms, and creators are not consistent, and this is why web3 is interesting.

You don’t have to rely on advertising because you only need to sell the product itself. Then others use it for free. The mission of Memeland is to bring ownership to the community. The vision is further elaborated as follows:

Our web3 dinner has three dishes
- First is the use of NFTs for community building. We share the same PFP (profile picture), we are on the same Discord (chat platform). We are in the same token community. I think this is a very good tool for building a community because people really feel that they belong to it.
- So [ERC-20] tokens are for value creation. Because not everyone can afford your expensive JPEG. But if you have about $4 or $5, you can buy ApeCoin. If you own a portion of the token, you can still be part of the ecosystem.
- The last part is [products], because now, what can our tokens do? That’s why we need to build products or encourage people to build products for the token’s applications.

This is Memeland’s ongoing thinking on Web3 strategy, and it is also the strategy that Memeland is currently building.Upcoming:- $Meme coin: $Meme token has been in Memeland’s roadmap for a long time, but it wasn’t until April 23rd that Memecoin’s exclusive Twitter and official website were established. $Meme is also a very important part of Memeland, and there will be many future use cases.$Meme token:- Maximum supply: 69,000,000,000- Token economics: – DAO – [REDACTED] – INVESTORS – [REDACTED] – COMMUNITY – 69% – KEY PERSONS – [REDACTED]- The official distribution of the remaining 31% has not been disclosed yet, and details will be announced later.$Meme Fire sale:- 69% of the total supply flows to the community through public sales and multiple airdrops. The highest unit price for public sales is set at 0.69 ETH or lower. Distribution is based on the number and rarity of NFTs held by users, and different NFTs grant different amounts of eligibility for the whitelist.- Distribution is divided into two categories: allow list (AL) and waitlist (WL). The AL quota is guaranteed and is allocated based on the types of Captainz NFTs held by users: – Human Captainz: 1X – Shark Captainz: 2X – Kraken Captainz: 2X – Kong Captainz: 3X – Kaiju Captainz: 3X – Alien Captainz: 10X – MVP: 12X- In addition, holders with a full crew (1 captain and 3 Potatoz) can receive an additional 1X, and holders with a super crew (1 MVP, 9 Captainz, 27 Potatoz) can receive an additional 12X and the right to a private sale.- The WL quota is non-guaranteed and is distributed as follows: – Potatoz: 1X – Waitlist: 1XFor example:- If you have 1 Human Captainz and 1 Potatoz, then you have 1 AL and 1 WL.- If you have 1 Human Captainz and 2 Potatoz, then you have 1 AL and 2 WL.

If you have 1 Human Captainz and 3 Potatoz (aka Full Crew), then you have 2 AL and 3 WL. If you have 1 Kaiju Captainz and 3 Potatoz (aka Full Crew), then you have 4 AL and 3 WL.

Attached is the Memecoin Fire Sale Calculator Calculator and a detailed chart listed by a Twitter friend.

As for why Super Crew (1M + 9 Human + 27P) can have 42 AL, it’s because 42 AL = 12x(MVP) + 9x(Human Captainz) + 12(Super Crew Extra + 12x) + 9x(9 Captainz + 27 Potatoz that can form 9 Full Crew, which is an additional +9x), so a total of 42 AL.

Image source: @Aizcalibur

Token Valuation Model:

Because the number of token allocations, fundraising hard cap, initial circulation, and circulation market value are uncertain, and the airdrop part is also likely to be allocated according to the rarity of NFT in an Allowlist-weighted manner, the simplest method is to estimate based on the proportion of Allowlist quantity held by the NFT, and the return on investment is related to fundraising hard cap, initial circulation, and circulation market value, so the overall valuation can use the fixed variable method:

Assuming the initial circulation is fully public offering, assuming the hard cap of public offering is full for each person, and assuming the market value of circulation is equal to the initial hard cap, the investment at this time is equal to the return, that is, break-even.
If the initial circulation and public offering hard cap are fixed, and the market value of circulation doubles, the corresponding return will also double, and so on.
In short: as the hard cap and initial circulation decrease or the market value of circulation increases, the return increases; as the hard cap and initial circulation increase or the market value decreases, the return will decrease.

The following is a calculation table: This table covers the total number of Allowlists, Allowlist full hard cap, initial distribution share, the number of tokens that can be obtained, and the corresponding estimated price data. Based on this table, you can adjust the hard cap and initial circulation to estimate the return on investment that an Allowlist can get.

Other conjectures: Because Allowlist guarantees allocation, while Potato and previously released wailt codes are waiting list qualifications and do not guarantee allocation, it is likely that a portion of the quota will be reserved for Potato and wait code users to participate, but not everyone will be able to participate. Perhaps distribution will be done through lottery or other means to ensure that all community members have a chance to participate in the $Meme token launch.

$Meme use cases:

Will be used for future land casting, Maps or potion purchases, etc.
- Land
- Maps
- Potions
- Precious items
Will support the use of multiple SocialFi products, linking creator economic systems
- Captainz Erc-6551 subsequent trais transactions
- Pay-per-view tokens for similar onlyfans-like paid social platforms such as GMGM.com

Captainz &Erc-6551

Following the emergence of homogenization with the original Azuki after Azuki Elemental opened the map, which caused disappointment and selling in the community, Captainz has also faced a crisis of opening the map. As expected, after suffering from liquidity depletion in the NFT market and the shadow of Azuki harvesting NFT players’ hopes, Captainz’s opening of the map was also questioned by community members, and there were overwhelming voices of homogenization and low quality. It is not surprising that Captainz’s floor price has also fallen, of course, this is also largely related to the entire NFT market slump.

However, as Fud’s emotions cooled down and the haze gradually dissipated, and more information was released from Memeland, it seemed that there was still a mystery hidden behind the opening chart. Based on the AMA and community feedback, Captainz will adopt Erc-6551 to give PFP more composability and creativity. Since then, the prices of Captainz and other similar NFTs have slowly rebounded.

ERC-6551

ERC-6551 is a token-bound account protocol that allows ERC721-type NFTs to create smart contract accounts, which have all the functions of Ethereum accounts, enabling bound accounts to have composability, NFT and token assets, and interact with corresponding Dapps. All of this is forward-compatible and can deploy smart contract accounts for each ERC721NFT without permission.

In other words, it is possible to create an account for NFTs. Previously, the account had ownership of NFTs, but ERC-6551 allows NFTs to have account ownership. This account can place tokens (such as $Meme), other traits (headwear, jewelry, etc.), treasure maps, valuable items, and so on, and asset transfers will transfer all assets in the account together.

From the message sent out by Captainz, it can be seen that based on the basic model of Captainz, different parts such as skin color, hair ornaments, clothes, tattoos, and other parts can be selected, which improves the playability of PFP.

According to Ray’s latest AMA and community updates, Captainz will have more gameplay in the future, such as branding with web2 or collaborating with community creators, releasing unique traits of different rarity, and these traits will be independent or bundled into Captainz accounts created by the ERC-6551 protocol, which can be sold independently or bundled. This will also be connected to $Meme tokens.

In the future, the team may launch a Captainz traits maker on the APP Store. Traits that comply with the rules can be bought and sold through $MEME tokens, which will strengthen the creator economy.

Summary:

Since its inception, Memeland has built a strong community and has an active founder. Ray is very active on Twitter and Discord, and can communicate extensively with community members and build good intentions. Ray’s real strength is building good intentions in other communities. This not only involves buying NFTs, but also respecting and interacting with other holders.

NFT is a game of attention, and Web3 is developing too fast, making it difficult to sustain attention. Especially for new NFT projects that rely heavily on attention, they often struggle to maintain high attention after release.

Memeland cleverly solved this problem. The reason why it keeps high attention is that it is not in a hurry to launch Potatoz and Captainz. The staking model, uncertainty surrounding Mapz and Potions, and the often self-deprecating $MEME token make the ecosystem exciting for holders.

Moreover, Memeland does let loyal holders enjoy the benefits of community members. MVP holders of high-level members get everything they should, and if you want to sell Captainz, you will sell all the staking rewards obtained up to that time. The more rewards you get, the less willing you will be to sell.

The community built by Memeland is very compatible with its own brand culture. Playing with memes, self-deprecation, and so on are all in line with Memeland’s IP attributes.

The most anticipated thing next is the launch of the $MEME token. The token will be the second course of the three-course meal that Memeland offers. Afterwards, more products will be launched. Let’s see if Memeland can find the ultimate ONE PIECE in the era of the great navigation.

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