The newest meme project Meme Kombat
Memcoins, especially those related to shiba inu dogs (Dogecoin, Floki, Shiba Inu) and Pepe the Frog (PEPE Coin), have flooded the crypto industry. As a rule, these projects utilize game mechanics already beloved by many from games such as:
- Tamagotchi,
- Pokemon,
- Minecraft and others.
However, some project creators went even further and combined many famous memes at once. One of them is Meme Kombat. We tell you what this platform is, what its strengths and weaknesses are, and what opportunities it offers to MK token holders.
What is Meme Kombat?
Meme Kombat is a gaming platform with staking and betting features that unites players in battle arenas for exciting battles of popular memes from the internet.
The platform is not out yet but is scheduled to launch shortly. The future app will allow MK native token holders to bet on the outcome of automated battles between popular memes such as:
- Melody,
- PEPE,
- Shiba,
- Floki,
- Wojak and others.
The fighters will be animated meme characters based on artificial intelligence.
Meme Kombat token
MK is a native ERC-20 token issued on the Ethereum blockchain. Many large projects give their token on this blockchain despite high transaction fees. Ethereum is one of the leading platforms in DeFi in terms of users and has the most developed ecosystem with over 970 decentralized applications (DApps).
The token pre-sale is currently open. According to Meme Kombat's official website, the team has already raised over $3.7 million of the $5 million goal in 12 weeks. Users who buy MK tokens can stake them at 239% per annum, but the yield will decrease as the staking pool grows. However, at the pre-sale stage, such investments are risky as the cryptocurrency is not yet traded, and it is unknown which exchanges will list it.
The maximum issue of tokens is 120 million MK, of which 50% (60 million) is allocated for pre-sale. The rest of the tokens are given as follows:
- 36 million (30%) — staking and rewards for battle victories;
- 12 million (10%) — providing liquidity on DEX exchanges;
- 12 million (10%) — community rewards.
Project advantages
One of the advantages of Meme Kombat is the existence of a report on the successful passing of the audit by Coinsult. The audit did not reveal any severe problems or controversial features in the smart contract of the MK token, which is a positive factor for the holders.
The second positive feature is the idea. The use of memes in blockchain is not original: projects are already developing in this direction, such as Memeland. However, the Meme Kombat team has added the mechanics of fighting and betting. However, so far, this is the only functionality that is still planned to be implemented in the game.
Red flags
Here are a few of the negative factors of the project:
- Lack of MVPs. So far, the Meme Kombat team hasn't launched a single working product, and there's no guarantee that there will be one. According to the roadmap, the platform was supposed to launch in September-October 2023, but that hasn't happened yet. On the one hand, investing without a product may be more profitable, as the token has a higher growth potential, but on the other hand, the risks of such investments become much higher.
- Lack of listing on CoinMarketCap. The service team has not yet verified and added the token to its platform so that you can expect anything. Note that listing on CMC itself is not a guarantee of fraud protection.
As of December 2023, the project team was already set to launch the second season, which was planned to add new types of battles, a reward system, and more. The team also did not provide a concrete development plan for 2024, except for two seasons of games.
Meme Kombat also has divergent information regarding the platform launch. According to the Roadmap on the website, it was supposed to be released at the end of the third quarter, but the project's documentation shows the back of the fourth quarter. Either way, the platform launch is scheduled after the end of the MK token pre-sale.
Not much is known about the team itself. On the Meme Kombat page, there is only a link to the LinkedIn profile of the project's founder, Matt Whiteman. However, according to the information provided, Meme Kombat is his first project as a manager.
Does Meme Kombat have any prospects?
It is too early to talk about the project's potential, as the Meme Kombat team has not released any products yet. After the platform's launch, the team plans to expand the project's community and ecosystem.
The project has more red flags than advantages, so investing in it is risky.