As a seasoned crypto investor with roots deeply entrenched in both Web2 and Web3 landscapes, I can confidently say that Ray Chan’s influence in 2024 has been nothing short of revolutionary. Having witnessed the rise and fall of countless meme trends since the early days of 9GAG, it’s fascinating to see how Chan has masterfully harnessed the power of humor and culture to reshape the crypto world.
2024 marked an extraordinary period for meme coins, often referred to as the “memecoin boom.” The interest in these tokens has skyrocketed to unparalleled levels. As of now, the meme coin sector is estimated to be worth a whopping $141 billion, accounting for approximately 11% of the overall crypto market (excluding Bitcoin and Ethereum).
In simple terms, Ray Chan, CEO of Memeland, has risen to prominence within the digital revolution known as the “supercycle.” By combining his knowledge of humor, cultural trends, and blockchain technology, he’s transferring the meme culture he helped establish in the Web2 era into the Web3 space.
In the year 2008, during the time known as Web2, Chan established 9GAG. Here, he carefully selected top-notch internet memes, turning them into the universal language of humor and self-expression on the web.
I am honored to be included in CoinDesk’s Most Influential 2024 package. It is a testament to the impact that my work and experiences have had within the cryptocurrency industry. To learn more about all of this year’s nominees, please click here. I am humbled to be recognized alongside such esteemed peers who are shaping the future of blockchain technology and digital assets.
2024 marked the year when Chan launched Memeland as a successor to 9GAG. He reimagined it as a model demonstrating how blockchain technology, culture, and online communities could revolutionize the internet through NFTs and GameFi. Although these concepts aren’t groundbreaking in Web3, Memeland stands out by focusing on fostering community and nurturing creativity rather than mere financial speculation.
Redefining the Fan-Creator Relationship
Chan’s approach has centered around simplifying blockchain technology, making it enjoyable and inherently social. In essence, this can be seen as the link between Web2 and Web3, since memes aren’t complex decentralized financial systems like a novel automated market maker conceived by scholars – they are just funny images of dogs and cats.
In Chan’s view, Web3 presents an opportunity to reshape the dynamics between creators and their fans by employing a unique concept called “proof of fandom.” This innovative approach allows creators to engage with their audience while simultaneously establishing an ownership structure – a functionality that is absent in the Web2 realm.
This synching of fans with ownership is what’s missing in Web3, and what Chan sees as bringing in the masses.
In a fireside chat during Taipei Blockchain Week in 2023, he expressed it this way: “Instead of seeking additional investors for Web3, what we truly require is an increase in customers.
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2024-12-10 18:13