The crypto space is hotting up, most notably in the meme coin sector. The driving catalyst behind this has been Elon Musk’s takeover of Twitter, giving rise to the possibility of an institutionally accepted Dogecoin. DOGE is already being used by Tesla for certain merchandise purchases as well as for its supercharger network.
Meanwhile, Apecoin, the token which will drive ‘the Otherside’ metaverse economy has announced partnerships with Gucci and Tag Heuer. Both companies will be accepting payments for their products in APE.
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How have Apecoin and Dogecoin managed to secure such adoption?
Apecoin is the parallel currency of the Bored Ape Yacht Club – the Blue Chip NFT collection built on the Ethereum blockchain. The NFTs stand head and shoulders above any other collection when it comes to price tag, fame and community. Because of this, the collection has attracted the largest names in many different industries. Many A-list celebrities such as Snoop Dogg, Neymar and Tom Brady own these highly regarded NFTs.
APE cried out for a fashion collaboration, and who else fits the bill other than the luxury fashion brand Gucci? Collaborations like this are a testament to the real utility meme coins can have in modern society.
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The case for Dogecoin is slightly different. As the first meme coin to hit the markets, it benefitted from the first-mover advantage, something which is key in the blockchain industry. DOGE secured a strong community very swiftly, tapping into the internet sensation doge meme.
Billionaire entrepreneur, Elon Musk, took a shine to the currency and the rest as they say is history. DOGE is now being considered as a payment system for Twitter verification subscriptions, as well as many other revenue avenues.
Which meme coins could secure a similar collaboration?
Looking at Apecoin, it is clear that a strong community is what drives real-world adoption. A currency’s value is derived from its consumer support. In the case of APE, the NFT collection was so unbelievably successful that a fashion collaboration was deemed viable, and profitable, at an enterprise level.
In the case of DOGE, it is Elon Musk’s favouring of the currency, backed by a meme culture. So what about newer projects?
Take Big Eyes Coin. A start-up presale meme token. For anyone unfamiliar with the Big Eyes story…Big Eyes is the cutest cat on the market and is looking to take the fight to the dog. In a market saturated with Doges, a cute community-driven cat could be just what the meme coin market needs for the next bull run.
Having raised over $9 million so far, Big Eyes has amassed an almighty community already without even launching yet. There is a great deal of hype surrounding this token and for good reason. We have so far established that a meme coin needs a strong community to have a chance of any kind of adoption, be it social or enterprise.
The Big Eyes community is not only soaring but is leading an as-of-yet-undiscovered market. How much room could there be for a cat to grow in the meme coin industry? If there’s space for an APE then there’s surely space for a cat in your portfolio. The Big Eyes community are betting big that Big Eyes will land on its feet in the next bull run.
To do your own research on the project, check the button below. The Big Eyes development team are also running a spooky season bonus, use the discount code: BIG543 for 5% extra tokens on your purchase!
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