Meme Economy is a satirical online subculture in which memes are addressed in financial language as if they were commodities or capital assets with varying prices.
/r/memeEconomy is a Reddit “subreddit” dedicated to memes. As the name implies, the group combines memes and economics in an ideal way. Memes are portrayed as a possible investment on the subreddit, with members able to "invest" in them depending on their likelihood of becoming a top meme on the platform.
The subreddit's business model, on the other hand, is rather obvious. If someone discovers a relatively new meme with a few upvotes, they may invest their memecoins in it and expect it to go viral, resulting in maximum profits. This expectation also corresponds to the psychological pleasure derived from a meme when it is still new on the internet. It becomes a dead meme as soon as it becomes popular, and the person who shared it runs the danger of slipping down the meme social ladder.
Darkpitt registered the site NASDANQ.com on September 29th, 2016, and announced ambitions to transform it into a meme trade marketplace on the /r/MemeEconomy subreddit. On February 22nd, 2017, Redditor AchillesDev, one of the NASDANQ project's volunteer developers, posted an update revealing that the team has officially formed a company under the name NASDANQ LLC and the alpha version of the platform would be ready for launch within two weeks, with basic functionality such as buying and selling memes and setting firms. NASDANQ started its closed beta on April 12th, 2017, giving testers access to the site's basic functionalities. Icedog68, a Redditor, shared a snapshot of his site profile that day.
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