New Ethereum-based Digital Collectibles Platform ‘Meme Factory’ Launches by District0x

A new blockchain-based marketplace for digital collectables called Meme Factory was launched and it is going live today.

This platform is built on top of Ethereum (ETH) and it allows individuals to create, issue and also trade their digital collectables. The information was released by the company in a recent announcement.

Meme Factory Has Been Launched

This platform was created by District 0x Network raising $9 million through an Initial Coin Offering (ICO) back in 2017. The company was able to gather ETH and receive funds from Boost VC and CoinFund.

In this platform, users such as artists can create their original tokenized memes and submit them for consideration. This is called the Dank Registry. There will be registry curators that hold the DANK token and control which submissions are going to pass to the platform. Collectors would be able to purchase these memes using Ethereum.

There are going to be memes issued in a limited number and they can be traded on different markets. According to the firm behind the platform, these provably rare memes will exist indefinitely on the blockchain, thus, collectors will be able to gather and store as many as desired.

There are many projects for the future of this platform. For example, users will have the possibility to build websites to develop communities around different purposes.

During a conversation with CoinDesk, the firm said that districts will be decentralized autonomous organizations (DAOs). These will enable posting, searching, and more using District0x’s software and programs. Joe Urgo, the co-founder of the platform, commented:

“We see blockchain and tokens allow all kinds of uses that were never possible before.”