‘MemeFi’ – ‘TwitterFi’ and ‘TelegramFi’ to Dominate Web3 Cycle: Ex-Binance VC Says

CryptosHeadlines Stories

Xin Jiang, a founding partner at Old Fashion Research (OFR) and a former Binance veteran, believes that now is an opportune time to invest in web3 as both primary and secondary markets have hit their lowest points.

Claim Instant $200 Worth Of DunkiMunki New Memecoins Free On www.DunkiMunki.xyz

He highlights the potential of projects like memecoins, Friend.tech, and Unibots, which leverage platforms like Twitter and Telegram, for decentralized applications (dApps).



Xin Jiang emphasizes that the crypto space doesn’t need more infrastructure projects, stating that the existing infrastructure can sustain the industry through the next bull run.

He also notes that scalability and decentralization are no longer concerns with platforms like Solana, Ethereum Layer 2 rollups, and upcoming zkEVMs. Instead, what’s currently lacking are the “killer apps” for this cycle.

OFR, founded in late 2021, manages a $100 million fund focused on blockchain investments. Their portfolio includes projects like Nansen, Mexc Global, Pudgy Penguins, WOO Network, Sei, Boba Network, Lookonchain, and Genopets.

Claim Instant $200 Worth Of DunkiMunki New Memecoins Free On www.DunkiMunki.xyz

Xin Jiang believes that memecoins, Friend.tech, and Unibots represent the new DeFi wave for the upcoming cycle, effectively leveraging social media and messaging platforms. Memecoins have cultivated a unique “degen” culture, offering a more equitable token model compared to VC-backed tokens.

Centered JavaScript

Friend.tech, often seen as a social platform, is viewed by Xin Jiang as a financial product built on top of X’s (formerly Twitter) user network. Friend.tech’s 24-hour fees surged to $1.4 million on August 21, ranking third after Ethereum and Lido.

Unibots taps into Telegram’s extensive user base, introducing features tailored for meme traders. However, concerns about the security of trading bots on Telegram have been raised.



To achieve widespread adoption, Xin Jiang suggests that dapps need to combine product, subculture creativity, and tokenomics elements. “MemeFi,” “TwitterFi,” and “TelegramFi” dapps that successfully integrate these elements are likely to thrive in the upcoming cycle.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Join Cryptos Headlines Community

Follow Cryptos Headlines on Google News

Author

  • Salim

    "Salim is a news writer at CryptosHeadlines who creates excellent, well-optimized content to ensure user satisfaction. He is skilled in forecasting News About Cryptocurrency Market & blockchain Industry."

Leave a Reply

Your email address will not be published. Required fields are marked *