A competitor to smart contract platform Ethereum (ETH) is shifting its culture to focus on promoting tokens inspired by internet culture and humor.
new presentation, Layer-1 blockchain Avalanche (AVAX) was launched last year to promote the Culture Catalyst initiative, which aims to support memecoins, gas tokens, non-fungible tokens (NFTs), stablecoins, and real-world assets (RWAs). He said he plans to start. And governance coin.
“Last year, the Avalanche Foundation launched Culture Catalyst, a program aimed at empowering creators, sparking innovation, and driving blockchain adoption.
This initiative seeks to better position Avalanche to foster and support the many new forms of creativity, culture and lifestyles that blockchain enables.”
Avalanche said it plans to purchase a selection of AVAX-based meme assets to begin the collection and will select tokens based on a combination of factors, including but not limited to number of holders, liquidity threshold, and overall social sentiment. .
“The Avalanche Foundation plans to use Culture Catalyst to purchase and create collections of select Avalanche-based meme coins to recognize and promote the culture and fun that meme coins symbolize.
“This move complements the Avalanche Foundation’s ongoing engagement across the Avalanche ecosystem, including NFTs, RWAs, and other types of crypto assets, expanding the portfolio to embrace a fuller range of possibilities.”
This initiative was originally made It was created in March 2022 through collaboration between Avalanche and OP3N, an artificial intelligence (AI)-based chat application.
AVAX is trading at $40.13 at the time of writing, which is down slightly over the last 24 hours.
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