Avalanche Foundation announced that they will purchase meme coins from the ecosystem with a fund of 100 million dollars.
From Avalanche official social media account 29 December made on the day sharing, The meme excited coin investors. In the statement, in the Avalanche ecosystem To create a stronger culturevia Avalanche Foundation investing in meme coins place was given.
This “culture catalystStating that they will be a part of the ” initiative, the team selected promising companies for recruitment. NFT allocated to finance projects Fund worth 100 million dollars stated that it will be used. In the details of the statement, it is stated that the purchases will not only be for meme coins, but also There will also be investments in NFTs and other potential products. highlighted:
This initiative aims to better position Avalanche to develop and support the many new forms of creativity, culture and lifestyle enabled by blockchain. We will use this funding to curate a collection of Avalanche-based meme coins and to recognize and promote the culture and entertainment symbolized by meme coins.
The team evaluates the projects it will invest in, including the number of investors, liquidity thresholds, maturity of the project, fair launch principles and general social awareness. will choose according to many basic criteria he stated.
A meme coin based on Avalanche Coq Inu (COQ)ignited the spark within the ecosystem with its astonishing upward performance in a short time. COQ became a meme coin that managed to stand out by allowing some investors to make millions in a short time.