Since the emergence of native telegram apps and tremendous growth across the telegram ecosystem overall, nearing 1.7 billion users worldwide, there’s a niche sector that has developed over the past several months which focuses on web2 gaming built by native web3 crypto teams.
One of the most recent examples of tremendous success in bringing millions of web2 gamers on-chain was Notcoin. Notcoin was a simple idle clicker game where users tapped on the screen to virtually mine a currency called NOT. At first, nobody knew that this currency would see the light on-chain and it seemed like a fun virtual currency with a promise of some future rewards.
6 months since inception, NOT has launched as a crypto token on all of the top tier exchanges, including Binance, OKX and Bybit, valued at 1.5 billion dollars with most of its supply airdropped as rewards to users without any vesting.
This is quite a stray from your usual low float/high FDV VC crypto token models, as the token was able to sustain the selling pressure from all the viral marketing and listing demand.
Users & Telegram
The MemeFi ecosystem features another app from the sphere of idle gaming. The MemeFi Coin Telegram Clicker has galvanized an audience of a whopping 8 million players, with 2 million daily active users.
The immense potential of clicker apps after a successful Notcoin launch has attracted millions of users. In MemeFi’s case, players tap regularly and collect virtual tokens, which they also expect to materialize and rightfully so — $NOT has been listed on May 16 on top crypto exchanges. A simple free activity turned out to be extremely lucrative for many of the players.
The engagement of MemeFi Coin users is monetized via an Ad Network, which, contrary to what the name suggests, is rather a single source of highly active traffic channeled through incentivized activities in the app.
This harmonic advertising ecosystem may very well be craving crypto. For this reason, MemeFi is seeking to integrate crypto solutions into the app, leveraging the social power of Telegram.
Building on Linea
The prospects of both the Telegram clicker app and its Web3 counterpart seem to have been realized by Linea, a layer 2 blockchain for Ethereum closely associated with Consensys. The project backed by Metamask founders saw value in the MemeFi ecosystem early on, suggesting there’s a partnership on their social media.
The support of Linea may enable something a lot of blockchain developers dream about — a mass conversion of Web2 users to Web3 through a real product.
The team is working with Linea on partnerships, as well as tier 1 exchange listings, and the development of MemeFi’s own telegram crypto wallet which will support Linea, including fiat-to-crypto onramp by directly purchasing crypto with a credit card on Linea.
The mass conversion may be a way for MemeFi to channel users to its own Web3 app, a novel Social Tech solution tailored for a native crypto audience. With its immense reach, MemeFi will certainly find plenty of soon-to-be “degens,” who will go out of their way to reach the top of the leaderboard, hoarding keys and outcompeting each other on a financial PvP battle arena. This may position the clicker’s Web3 counterpart as the leading mass adoption crypto app.
MemeFi has released at a very peculiar moment, mixing together the hottest narratives of today’s crypto: memes and Social Tech. And it is indeed a novel way to do crypto in gaming that might actually work via mass adoption of web2 users.