LaRocke

@LaRocke

Joined on Mar 13, 2020

  • 💡 Overview In recent years, the use of memes has spread from specialized internet culture groups to mainstream outlets, thus popularizing the term and what it represents. In its pure form, a meme is just an inside joke within a community, where each individual is capable of pushing the joke in any direction they see fit. Memes are usually summarized in an image but may exist in other mediums such as songs or small phrases. For pictures, it is often a custom for members of a community to Photoshop the meme by making minor adjustments, such as crossing out one word, replacing a phrase, or adding an item to the image to make references to other memes. Such behavior facilitates the creation of infinite sources of memes due to cross "memefication" and keeps the community engaging and growing. There has also been a meme called "meme stock is rising or falling," referencing the fact that one meme is becoming popular, and people should "invest." While we see that this meme meant as a joke, we believe that it is an exciting idea to be inspired from, and therefore we propose a solution, MemeSHARE. MemeSHARE is a trading platform for non-fungible tokenized meme collectibles. It is built upon Ethereum blockchain (Ethereum) and tokenized using an ERC-721 standard. In other words, each token is unique, has a unique ID, and has its own value. People are the main driving force behind the platform and the prices of the collectibles. Investing early on into a "successful" meme when it's cheap, may yield high profits. Collectibles will be released based on suggestions, demand, current trends, and other factors that may come into the decision making. While a collectible card of the same meme may be reminted at a later time, the unique ID may be traced down to an earlier release and represent a higher value to some. The reason for the utilization of Ethereum is its public availability. Essentially, a blockchain is a public database that can be read by anyone and interacted with by anyone based on a specific set of rules defined by the developers. Ethereum is the second most popular blockchain, known for its smart contract technology. A smart contract is a digital contract that executes automatically on the blockchain once all the requirements are met. The most straightforward smart contract would be "Once the buyer sends the money to the smart contract, the smart contract sends the product from the seller to the buyer." MemeSHARE will use Ethereum smart contract technology to keep track of all meme collectibles and who they belong to. MemeSHARE smart contract will be fully readable by anyone with the means of interaction with Ethereum, and the owners of the collectibles will be given an ability to transfer ownership of any of their collectibles, whether it is for money, other collectibles or for free, as a gift. One advantage of using a public database is everyone knows who the owner of a particular collectible is, therefore, eliminating the number of scams possible. Another advantage is that anyone can build a platform or an app that would support MemeSHARE without us limiting developers with an API. In other words, whatever data we can read, you can read it as well. We are especially excited about this feature because this will facilitate the creation of a flourishing community where we can help one another and see what great things we can create together. 💡 Structure
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