Avalanche Foundation Embraces Meme Coin Culture With $100 Million Fund (edited)
On January 23, the nonprofit organization behind the Avalanche blockchain network announced a $100 million fund to support meme coins and other community coins.
As described in their statement, the Avalanche Foundation views meme coins as having high community value due to the culture and engagement they create. Through its Culture Catalyst program, the Foundation will deploy capital into select meme coins that meet established eligibility criteria.
“We note that meme coins generally have high community value because of the engagement, community spirit, and culture that they engender, which goes beyond the humor and virality that they embody,” stated the Foundation. “The Foundation embraces the full spectrum of creativity, culture, and camaraderie in the blockchain space.”
As you know, Avalanche Foundation has previously announced that it will invest in meme coins under the Culture Catalyst program. Today, the Foundation announced the Eligibility Criteria Framework for these. Moreover, they have named the meme coins much more beautifully: Community… pic.twitter.com/AkP4qmDG6b
— A.Emre
Read more on cryptonews.com
