Brett (Based) (BRETT) - what is this token and what are its features

The Brett token, which will be discussed in this article, quickly became among the top ten memcoins.

What is Brett?

Brett is a new memcoin that has been released on the Base blockchain. As the name suggests, it is based on the iconic meme character Brett, who is closely related to Pepe, one of cryptocurrency users' most famous meme characters. Both characters are known from Matt Fury's original Boy's Club comic book. Moreover, in the comic book, Brett and Pepe are friends.

Many tokens have already been released based on the famous memes with dogs, cats, and frogs. Therefore, the developers of Brett decided to bring diversity by issuing their token based on a still rarely used character and in the new Base blockchain, which is currently not so much in demand among memcoin creators, unlike, for example, the Ethereum and Solana networks.

The Brett project has some strong qualities that not every memcoin has. For example, the BRETT contract does not have a token minting feature. This means that no new tokens will be issued, and the supply will forever be limited, which will lead to a price increase if demand increases.

BRETT tokenomics and exchange rate

The BRETT token was issued in March 2024, and in less than a quarter, its capitalization has grown from $400 million to $1.2 billion, which is very high, especially for an asset that doesn't have any utility yet. For example, even large projects like Celestia's modular blockchain don't always perform at such high levels at launch, which says a lot about the high demand for memcoins among users.

There are 10 billion BRETT tokens in total, 9.91 billion of which are already circulating on the market. 85% of the tokens issued were allocated to liquidity pools, 10% were sent by the team to the treasury, and the remaining 5% to centralized exchanges.

Since listing, the BRETT token price has more than tripled as of July 2024. The Base ecosystem, on which the BRETT token is based, has attracted much attention from crypto users in recent months, which has undoubtedly benefited the BRETT token.

Users can only transfer BRETT tokens to each other and exchange them in centralized and decentralized exchanges. As of July 2024, no other use for the tokens has been found.

Does the Brett project have any strengths?

The project lacks a working product, and nothing is known about the team's plans. Its website is quite minimalistic, and you won't be able to find any detailed description, Whitepaper, or even detailed tokenomics of Brett on it.

According to the team, the BRETT token has the following benefits:

Partnerships: the Brett team is building collaborations with leading companies in the crypto industry, but it is not yet clear which ones (probably referring to crypto exchanges where the token is already traded);
Ecosystem growth: Base's blockchain platform is rapidly expanding, and more and more decentralized applications (DApps) are being acquired. According to the team, the growth of Base will have a direct positive impact on the BRETT token itself, given that it is also one of the most significant crypto assets in this ecosystem by capitalization;
Community support: Brett and the Base blockchain have garnered support from the crypto community, including prominent industry figures, which provides a solid foundation for the project's future development.

It cannot be said that BRETT somehow stands out from other numerous memcoins in terms of its use cases. What is the secret of such popularity?

Firstly, BRETT was one of the first to gain popularity in the Base ecosystem and became the leader in terms of capitalization. As a rule, such tokens are assured of success as long as the trend for memcoins in general continues. Examples are other well-known memcoins, such as Shiba Inu (SHIB) on the Ethereum blockchain and BONK, based on the Solana ecosystem.

Second, community-oriented tokens have shown stronger momentum than even the most anticipated ecosystem projects in recent years. For example, LayerZero (ZRO), whose launch was expected by the community for about two years, did not even make it into the top 100 cryptocurrencies by capitalization, unlike Celestia and Mantle.

Thirdly, the trend for memcoins continues to persist. Analysts expect it to remain one of the leading ones in 2024. Clicker games such as Notcoin and Hamster Kombat brought a new wave of popularity. Few projects have managed to gather tens of millions of users quickly, and the growing popularity of such games has only attracted more attention to memcoins.