Proof of Memes is building one blockchain to unite them all – memes, that is

The last few weeks have not been very kind to meme coins – or their owners. Nervous investors watched as the sudden and catastrophic implosion of FTX helped flush billions of dollars out of the meme coin market.

It came on top of what was already a bad 2022 for most of the top meme coins. Dogecoin, the most famous among them, is down over 68% from a year ago. Most other meme coins find themselves in a similar position.

That said, you’d think it wouldn’t be a good time to launch a new crypto project focused on meme coins. But we at Proof Of Memes. We are a new meme coin focused Layer-1 blockchain ecosystem that aims to counter the recent losing trend now dominating the market by directly addressing the high risk nature of meme coins. And funnily enough – there’s a very good reason why we think we’ll make it.

To explain, here is an overview of Proof Of Memes and why we are in a unique position to revive the meme coin sector into 2023.

A Programmable PoW Meme Coin Blockchain

The first and most important thing to know about Proof Of Memes is that it is a fork of Ethereum. More importantly, however, it is a fork of Ethereum’s pre-merge Proof of Work (PoW) codebase. It is not an accident. We saw the sudden idling of millions of miners around the world as a rare opportunity to create a new project without worrying about computing capacity.

These miners have lost a small fortune since Ethereum switched to proof of stake (PoS). By uniting a proven moneymaker like meme coins – despite their recent performance – with a ready-made mining contingent, Proof Of Memes aims to build instant momentum to draw projects into the fold.

Helping us in our mission is the fact that the blockchain – called Proof Of Memes or Pomchain – is compatible with the Ethereum virtual machine. That means many existing meme coin projects can migrate over with little trouble. It also means that new projects can draw from a ready supply of developers who already understand how the underlying technology works.

A list of services and tools

It’s also worth pointing out that our team of developers isn’t content to just be a blockchain provider. We’re also building a roster of services and tools designed to help investors and developers get on board with confidence. We have already launched Memescan.io, Pomchain’s official block explorer. We have also partnered with Empire Capital to build our on-chain DEX, called Pomswap.

However, our team does not stop there. We are also building a launchpad service called Pompad with built-in mandatory KYC functionality and a number of other security features. The idea is to provide a safe place for new meme coins and related projects to raise capital and launch, while protecting investors from blanket scams and other common scams.

Together, these features make Proof Of Memes a one-stop shop for meme coin projects. There they will find an interested audience, all the necessary financial tools to get started, and a blockchain with a deep developer bench to draw from. Together, it provides a compelling value proposition. If that was all we at Proof Of Memes had up our sleeves, that alone would be impressive. However, there is more.

Launch-related NFT kits are attracting a lot of interest

Proof Of Memes also has designs to encourage crossover between the meme coin market and the NFT and gaming space. To that end, we launched our project with two sets of NFT collections. The goal was to raise funds for the development of their platform. The first set, called LaunchBox, contained 10 unique premium NFTs. The second, called LaunchPack, had 490 additional designs. Owners of both received a 20 to 30% discount on future pre-sale launches through the Pompad launchpad platform. They are also ready to receive VIP invitations to upcoming exclusive events the project is planning for 2023 and beyond.

The two NFT sets sold out almost immediately, raising over 400 ETH for the project in the process. What is most interesting, however, is that both the project’s launch and the NFT sale happened without the team doing anything in the way of marketing. The demand for the NFTs and the interest people are already showing in Proof Of Memes is completely organic. For that reason, the sale provided positive proof that there is a willing audience for what we hope to achieve.

The Proof Of Memes Native Tokens

At launch, we also debuted the ETH2.0 governance token on the Ethereum blockchain. The purpose was to collect money for the project before the official launch of Pomchain. Owners of ETH2.0 are eligible for airdrops of the platform’s native coin, called POM. It is the main currency in the Proof Of Memes ecosystem, much like ETH is on the Ethereum blockchain. In addition to receiving POM, ETH2.0 holders can exchange their ETH2.0 token for POMG, which is the governance token for the Proof Of Memes platform.

The switch to the new blockchain makes Pomchain completely self-sufficient and no longer connected to Ethereum. In other words – it signals the true birth of a meme-centric blockchain unlike any other.

The takeaway

The point here is that we chose a rather opportune moment to launch their project. By offering displaced Ethereum miners a viable alternative to outright shutdowns, we have been able to gather momentum for the project without having to produce it through marketing. It also managed to garner enough attention from the community to drive a rapid sell-out of the project’s NFT collections, raising significant development capital in the process. An impressive list of developers who want to move projects and resources to Pomchain.

If that string of early successes is any indicator, there’s every reason to believe Proof Of Memes has a bright future ahead of it. As it continues to develop, there is little doubt that it will have the traction to draw both established and nascent meme coin projects into its orbit. And since momentum is a powerful thing for crypto projects, it bodes well for anyone lucky enough to have gotten into the project early.

POM can be traded on MEXC, with more listings coming soon

Stay tuned for the next article discussing more tools and utilities we’re building, as well as exciting projects bridging and launching on the Proof Of Memes blockchain.