Avalanche Foundation starts buying meme coins: Statement made

The Avalanche Foundation has also joined the meme coin craze, which has flared up again recently. In a statement, the foundation announced that it will start buying some meme coins through its "Culture Catalyst" program, which was launched last year. These meme coins will only be based on the Avalanche chain.

While the huge price rises seen in Solana-based meme coins, especially in BONK, have mobilized developers working on other chains, the big players of the crypto ecosystem have not been indifferent to this trend!

The Avalanche Foundation announced on the X platform that it will start buying meme coins through its "Culture Catalyst" program, which was launched last year.
"They have surpassed utility tokens"
Emphasizing that the "Culture Catalyst" program is a program that aims to support content producers and other creators and developers, the statement stated that internet culture and humor have recently taken an important place in the cryptocurrency ecosystem:

Like gas tokens, DeFi tokens, real-world assets, NFTs, and governance tokens within the crypto ecosystem, meme coins have recently become of great importance. These tokens, which are generally inspired by internet culture and humor, have managed to go beyond some of the assets that have a use case. Representing the interests of the various crypto communities and the spirit of collective action, these coins have become important players in this space."

"Avalanche-based meme coins will be bought"
Through this "Culture Catalyst" program, the Avalanche Foundation will only start buying meme coins issued on the Avalanche network, the statement said.

"The Avalanche Foundation will use Culture Catalyst to both recognize and promote the culture and fun that these tokens symbolize by purchasing some Avalanche-based meme coins to build a collection. This step will increase the Avalanche Foundation's ongoing involvement in the Avalanche ecosystem, including from NFTs, real-world assets, and other cryptocurrencies. At the same time, it will expand its portfolio by making it more complete."

It was noted that the purchases will be made based on various criteria, including the number of people holding the coin, liquidity levels, the maturity of the project, and whether the start of the project was made fairly.

#ContentStar# #GateLive# #BountyCreator# #GateioBountyCreator#
#HotTopicDiscussion# #Gate post Highlights# #NewsMessenger# #Gateio10周年# #MyFancyCreator#