Memeconomy

Because they spread like viruses, memes have the power to change minds and influence behavior, especially among young people.The “meme generation” (anyone younger than Millennials) collect these memes on their phones and share them on social media. To communicate well, marketers have to learn how to use meme style in a way that’s funny, not forced.

1 : Memes are information: not just funny photos, but any kind of idea, saying, song, slogan, or image.
2: The information has to propagate, which means it has to be copied.
3: The information has to persist; at least one day
4: It has to have impact, which means it either makes a difference in our behavior (it makes us act differently), or in the observable working of our brain (it makes us think differently).

Meme creators are selling originals of their work as NFTs on digital marketplaces like Zora, SuperRare, Nifty Gateway, and Foundation. NFTs have given these creators a direct way to profit from their art — something that hasn’t been possible before.

Non-fungible tokens (NFTs) are cryptographic entities that store unique information. This can be anything such as music, artwork, and videos. They’re part of the Ethereum blockchain but are very different from an ETH coin.

Chris Torres recently sold his famous Nyan Cat meme for about $580,000. He’s now organizing a week-long series of auctions on Fondation to help other creators cash in on their work. The event, dubbed “Memeconomy,” features famous memes for sale such as Scumbag Steve, Grumpy Cat, and Bad Luck Brian (which has just sold for roughly $37,000).

Memeconomy currently has some fairly recognizable memes up for sale. These include: Bad Luck Brian, Coughing Cat, Scumbag Steve, The Keyboard Cat, Grumpy Cat, Kitty Cat Dance, and The Me Gusta Face

Crypto art is auctioning at prices that rival physical works. This week, artist Beeple sold his digital art piece titled “Everydays: The First 5,000 Days” for $69.3 million — making the work the most expensive NFT in the world. Blockchain technology opens up new revenue streams, helping artists create value out of previously undervalued work.