- Block Inc., CEO Jack Dorsey led the $6.2 million investment in Mummolin's OCEAN project.
- The Memeinator is a new crypto project in presale and has raised $1.5 million from investors.
- Memeinator is powered by artificial intelligence (AI).
When it comes to investments, Jack Dorsey stands out among the shrewdest in the world. After all, the tech billionaire is the founder and former CEO of Twitter (now X) and heads Block Inc. (founded in 2009).
In his latest support gesture for Bitcoin (BTC), he’s putting millions into OCEAN, a decentralised BTC mining initiative. OCEAN seeks to empower miners, allowing them to reclaim control amid the threat of centralization of mining pools. The project is designed to be non-custodial and permissionless.
Isn’t this what Memeinator also aims at – albeit in a different way – for the meme token ecosystem? Let’s have a look a look at this crypto project.
Dorsey leads OCEAN’s $6.2 million seed round
On November 28, Wyoming-based bitcoin mining software firm Mummolin, announced it raised $6.2 million in a seed round. According to the company, the funding was led by Block CEO Jack Dorsey and featured Accomplice, Barefoot Bitcoin Fund, NewLayer Capital, MoonKite, and the Bitcoin Opportunity Fund, among other investors.
Per details in a press release, the funding is earmarked for OCEAN, a new mining initiative targeted at decentralised mining of BTC.
Commenting on the funding and the new project, Dorsey noted:
“OCEAN is solving a problem for Bitcoiners that I think all of us feel – further centralization of pools and mining pools that could plague Bitcoin, and how that risks a bunch of Bitcoin attributes that we hold dear. When I see a project that is good for Bitcoin broadly, and that’s also good for me and my companies personally, it becomes a simple decision for me and I’m happy to be a part of it.“
From what Dorsey said, we could deduce that as the crypto ecosystem grows, projects that are good for the industry will need support. The duly-infested memecoin market might be in need of just this kind of purge. Is the Memeinator one of these projects?
What is Memeinator?
The Memeinator (MMTR) is a new crypto project inspired by the 1990s hit franchise Terminator.
While most meme coins are projects that look to ape Dogecoin or some other trending token for speculative profits, the Memeinator takes a different approach. Rather than target hype at the expense of real value for the community, this project is taking the long term view via an innovative combination of artificial intelligence and blockchain technology.
The result is a high-utility ecosystem that encompasses gamification, non-fungible tokens (NFTs) and staking to offer value to holders of the MMTR token. The project is currently in stage 7 of its 29-stage presale.
From an investors’ point of view, this means one has enough room to undertake the necessary due diligence before investing.
Memeinator is presale – Is it a good time to buy?
Following the rise of the resistance in September, Memeinator has raised more than $1.5 million from early birds. The price has increased from $0.0125 and will continue to rise throughout until the final presale price of $0.049.
This project’s stated mission is to purge crypto of all the weak meme coins, a pursuit the roadmap highlights as one that will help push Memeinator to a $1 billion market cap. With a clear focus, tokenomics and value proposition, this is a goal that could well be achievable when the token officially launches in the market in 2024.
At current presale value of $0.014, this token is potentially massively undervalued, and buying now might prove a shrewd investment step should its value explode in coming months.
You can learn more about Memeinator here.
