Memes Lab, the platform bridging SocialFi and memecoins, 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, as well as Amber Group and Presto.
The funding will go towards accelerating the development and rollout of Memes Lab’s unified platform for creating, trading, and distributing memecoins, as well as preparation for its highly anticipated TGE.
Memes Lab is built on TON, which recently announced that it is the exclusive blockchain for Telegram’s mini-app platform, and offers user-friendly tools that enable non-technical creators to launch memecoins with minimal effort. The low barriers to entry, combined with the fast transaction speeds and low fees, enable memecoins to be created and spread quickly, encouraging mass adoption and experimentation.
The memecoin space continues to experience growth – driven by strong narratives and fervent communities – many of which thrive in the Telegram ecosystem. Memes Lab employs viral mechanics to activate the vast social networks of Telegram users, enabling them to launch memecoins and airdrop them to friends and family – giving Memes Lab a distinct edge over other chains. Memes Lab also automatically creates Telegram group chats when users launch memecoins, ensuring holders are seamlessly added to the relevant community group chat.
Memes Lab is enabling nearly 1 billion Telegram users to buy memecoins with Telegram Stars – tokens native to the Telegram ecosystem that can be earned through in-app activities like engaging in chats and participating in polls. Users can also receive stars as rewards for content creation, community contributions or their gaming achievements.
Memes Lab is uniquely positioned to showcase the power of memecoins as a strong instrument for blockchains and ecosystems to attract attention and boost metrics across the board. When the HIPPO memecoin 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 attracted over 17 million players to date – provides a full suite of tools for users to interact with memecoins. The game makes it easy for non-Web3 native users to join the world of blockchain with just a few clicks, giving them the chance to earn rewards while engaging in novel, meme-inspired gameplay.
Vova Sadkov, Co-founder and COO of Memes Lab, said: “While memecoins 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. Our mission is to place community back at the heart of the memecoin movement. We have a clear mandate to simplify memecoin creation and distribution while reigniting the collective excitement and engagement that make memecoins so special.”
Roderik van der Graaf, Founder and Managing Partner of Lemniscap, said: “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 memecoins, tapping into one of the largest crypto user bases with Telegram’s distribution. By empowering users to effortlessly launch memecoins and airdrop them to friends and communities, Memes Lab is bringing a fresh sense of vibrancy to the burgeoning meme economy.”
About Memes Labs
As the first application on TON bridging SocialFi and memecoins, Memes Lab is a meme-infrastructure app designed as an Attention Merchant of Web3 with distribution of Web2. Positioned to own the meme niche for the nearly 1 billion users of Telegram, Memes Lab enables memecoins to be created, traded and analyzed with ease while unlocking the power of SocialFi. Memes Lab is redefining communities and memecoins on TON with plans to expand to other chains in the near future. For more information users can visit: https://www.memeslab.xyz/, users can follow Memes Lab on X and join the official TG channel.
About Lemniscap
Lemniscap is an investment firm specializing in investments in emerging crypto assets and blockchain startups. Since its founding in 2017, Lemniscap has funded multiple investments in the crypto blockchain space, on the core belief that blockchain technology will upend traditional business models, resulting in profound changes in the world economy. The Lemniscap team consists of talented people with backgrounds in financial markets, PE/VC, technology and entrepreneurship. For more information, users can visit https://lemniscap.com/.
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