Memes Lab, the platform linking SocialFi and meme coins, has announced the successful closure of its $2.3 million seed round, led by Lemniscap. The round also included participation from TVM Ventures, Animoca Brands, OKX Ventures, Mirana Ventures, Gate Ventures, MEXC Ventures, Kucoin Ventures, Oak Grove Ventures, NewTribe Capital, GSR, Cypher Capital, Castrum Capital, Amber Group, and Presto.
The funding will go towards platform development for creating, trading, and distributing meme coins. Another priority is preparation for its token generation event.
Memes Lab is built on TON, which recently announced that it is the exclusive blockchain for Telegram’s mini-app platform. It offers user-friendly tools that enable non-technical creators to launch meme coins with minimal effort. Memes Lab said the low barriers to entry, combined with the fast transaction speeds and low fees, enable meme coins to be created and spread quickly, encouraging mass adoption and experimentation.
The meme coin space continues to experience explosive growth, especially in the Telegram ecosystem. Memes Lab employs viral mechanics to activate the vast social networks of Telegram users, enabling them to launch meme coins and airdrop them to friends and family. Memes Lab also automatically creates Telegram group chats when users launch meme coins, ensuring holders are quickly added to the relevant community group chat.
Memes Lab is enabling nearly one billion Telegram users to buy meme coins with Telegram Stars, tokens native to the Telegram ecosystem that can be earned through in-app activities like engaging in chats and voting in polls. Users can also receive stars as rewards for content creation, community contributions, or gaming achievements.
The platform believes it is uniquely positioned to showcase the power of meme coins as a strong instrument for blockchains and ecosystems to attract attention and boost metrics. It said that when the HIPPO meme coin was created on SUI, there was a huge spike in overall volume, with large numbers of traders flocking to SUI. Similarly, when BRETT was created on Base, the network also experienced a surge in on-chain activity.
The Memes Lab tap-to-earn Telegram-based app—which has recently attracted more than 17 million players—provides a full suite of tools for users to interact with meme coins. The game allows non-Web3 native users to join the blockchain world with just a few clicks, earning rewards while engaging in novel, meme-inspired gameplay.
“While meme coins are synonymous with community, in reality, holders are often left feeling disconnected, reducing the likelihood of long-term participation or loyalty within a particular project ecosystem,” Memes Lab co-founder and COO Vova Sadkov said. “Our mission is to place community back at the heart of the memecoin movement. We have a clear mandate to simplify meme coin creation and distribution while reigniting the collective excitement and engagement that make meme coins so special.”
“We are delighted to lead the $2.3 million seed round for Memes Lab, a platform that is innovating at the intersection of SocialFi and meme coins, tapping into one of the largest crypto user bases with Telegram’s distribution,” added Lemniscap founder and managing partner Roderick van Der Graaf. “By empowering users to effortlessly launch meme coins and airdrop them to friends and communities, Memes Lab is bringing a fresh sense of vibrancy to the burgeoning meme economy.”