In an effort to boost their visibility and appeal in the market, emerging meme coins have begun to embrace multi-chain scalability. The term “multichain” refers to the situation where a project is launched on multiple blockchains. To unlock this functionality, project teams typically configure different instances of their smart contracts for each blockchain.
In general, when a project is limited to a single chain, it reaches a limited number of users. On the other hand, the multi-thread function is also important for users who seek to explore as many projects as possible.
Therefore, any project that seeks to achieve long-term success in the market must remove all barriers that users may face while trying to access their on-chain features that they deem appropriate. This necessity has forced emerging projects, including several recently launched meme coins, to take a multi-chain stance.
Why do memecoins adopt multi-chain functionality?
Unlike its predecessors that were limited to a single chain, the new meme coins have now decided to take another step to strengthen their presence across multiple chains. The main essence of becoming multi-chain is opening its doors to a wider range of investors across different communities. In this article, we will look at some new multi-chain cryptocurrencies and how their interoperability feature can impact their growth.
Dogeverse
Dogeverse is a meme coin based on Doge that took the crypto world by storm earlier this year. Billing itself as “the universe’s first truly multi-chain meme coin,” Dogeverse started out using Ethereum before moving to other leading blockchains like BNB, Polygon, Solana, Avalanche, and Base. This was made possible by the integration of Portal Bridge and Wormhole technologies.
Dogeverse’s activity on these chains exposes them to the broader cryptocurrency community, allowing them to raise more than $15 million in a recently completed pre-sale. Pre-sale participants were able to claim their tokens and interact with its ecosystem from their favorite chains. Following its IEO debut, Dogeverse has the opportunity to take market share from some of its predecessors in a single chain.
Silana
Sealana is another newly launched meme coin that has embraced the popular multi-chain concept. Originally developed on Solana, a network known for its high throughput and low cost, Sealana has now gone multi-chain and is currently active on BNB and Ethereum, thus exposing it to the wider meme community.
Sealana essentially offers the alluring lore of a digital seal character who has taken a deep dive into the Solana sea. Taking a direct inspiration from “World of Warcraft,” the overweight seal has shed his youthful, lanky persona in order to make a fortune trading cryptocurrencies. Despite having no utility, Sealana’s intriguing mascot and interoperability have resonated with many investors. As a result, the coin raised as much as $6 million in its just-concluded ICO.
Playdog
PlayDoge stands out among its peers due to its multi-chain structure and P2E tool. With an ambition to reignite 90s nostalgia, PlayDoge brings a unique game to mobile phones. This game allows players to interact with, train, feed and care for their pets in an 8-bit digital world. Players can also use their virtual pets to battle other players. In return, they receive $PLAY tokens as rewards.
While it started on the BNB chain, PlayDoge has now moved to the Ethereum network. This aspect of the token coupled with its real-world utility puts it in a position to succeed in the market in the long term. At the time of writing, the PlayDoge pre-sale has begun and has raised over $5 million from early entrants. This confirms its reach, thanks to its multi-chain concept.
Bottom Line – The Importance of Multi-Chain Functionality for Meme Coins
All in one; Multi-chain functionality plays an important role in every meme coin that is ready for long-term sustainability. With this attitude, it tends to benefit from the growth and development of multiple chains. And as those chains grow, meme coins grow with them too.
Moreover, another major advantage of the multi-chain mode is that it helps to unify and bring together different meme coin communities. This enhances the credibility of the project and also encourages investors to contribute directly to its success.