The Avalanche Foundation has also joined the recently reignited meme money craze. The foundation announced in a statement that it will begin purchasing meme coins through its Cultural Catalyst program, which was launched last year. These meme coins are based solely on the Avalanche chain.
The significant price increase of Solana-based meme coins, especially BONK, spurred developers working on other chains to action, but major players in the cryptocurrency ecosystem were not immune to this trend.
In a statement on the X Platform, the Avalanche Foundation announced that it will begin purchasing meme coins through the Culture Catalyst program launched last year.
“They Passed Usable Tokens”
In the statement, it was emphasized that the “Culture Catalyst” program is a program that aims to support content producers and other creators and developers, and pointed out that internet culture and humor have recently gained an important place in the cryptocurrency ecosystem.
“Alongside gas tokens, DeFi tokens, real-world assets, NFTs, and governance tokens in the crypto ecosystem, meme coins have also gained a lot of attention lately.” These tokens are often inspired by internet culture and humor. , and we were able to go beyond our borders. Some assets in the usage area. “These coins represent the interests and spirit of collective action of various crypto communities and play an important role in this field.”
“Avalanche Based Meme Coins Will Be Purchased”
The following statement was used in the statement that the Avalanche Foundation will start purchasing meme coins printed specifically for the Avalanche network through this “Culture Catalyst” program.
“The Avalanche Foundation will use Culture Catalyst to purchase Avalanche-based meme coins and create collections to recognize and promote the culture and entertainment these tokens represent.” It reflects the Avalanche Foundation’s continued involvement in expanding the Avalanche ecosystem. NFTs, real-world assets and other cryptocurrencies “At the same time, the portfolio expands with completion.”
It was stated that purchases will be made according to various criteria, such as the number of people who own the coin, the liquidity level, the maturity of the project and whether the project has been launched fairly.
