Every day dozens of new tokens are announced. We go through them all to find the cream of the crop – giving you the scoop on top ICOs before anyone else.
After looking at 18 token announcements, we’re picking Dopameme as our ICO of the day. Dopameme is Steemit for memes.
Premise
The irony of memes is that they’re incredibly successful and popular, yet the creators usually end up with no financial reward. Dopameme aims to change that by building a Steemit-like platform for publishing memes and rewarding meme creators.
Memes published on the Dopameme platform will be able to be monetized with an upvoting system similar to how Steemit monetizes written content.
AI will be used to detect watermarked, stolen, or reposted memes. If an author is verified to have created an original meme, they are entitled to a share of that meme’s MTT, or Meme Tip Tokens.
Modifying memes is a huge part of meme culture, and templated memes will also be accounted for, allowing the creators of the new templated meme to recieve a share of MTT.
Team
The team behind Dopameme is developer heavy, with engineers, front and back end coders, and a graphic designer as CEO. We like that the team has experience in all the relevant areas of the product, and also that they seem to have built a mock prototype – although this is not open to the public yet.
Token
There are two tokens in the Dopameme ecosystem: MTT(Meme Tip Token) and DMT(Dopameme Token). MTT is used to tip meme creators, while DMT is the token being sold in the ICO. DMT will function as a dividend token, allowing holders to earn dividends from fees generated on the platform.
The token sale is hard capped at $6 million, and the token sale accounts for 60% of the tokens.
Summary
Dopameme is an interesting project that’s fun and also solves a real problem – monetizing one of the most prevalent types of internet content today – memes. The way they are doing it also makes sense, through tokenization. Pepecash, another take on tokenizing memes, has already done quite well, so there is definitely potential in this space.
The biggest risk with this project currently may not be their implementation, as their team seems quite capable and already seem to have a working front-end MVP, but their marketing and business-side execution, as their social figures are still rather low, and they don’t have much business-side talent on their team.
Nevertheless with a hardcap of just 6 million USD and the power of memes, if Dopameme does gain social traction, we think it can overcome its challenges, and could do quite well.
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