Punk6529 Introduces 'ReMemes' in Art Blocks-like Ecosystem Expansion

Punk6529 Introduces 'ReMemes' in Art Blocks-like Ecosystem Expansion
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Notable NFT personality, collector, and founder Punk6529 made a major announcement for The Memes by 6529 ecosystem this afternoon.

The anonymous founder is introducing "ReMemes" as an expansion of the Memes. The idea stems from all of the community-led derivatives that have been created from the CC0 Meme card art. It turns out that Meme Card artists also want to create derivatives of their art, and apparently whole ecosystems around them, and thus 6529 is launching a formal platform to make that idea a reality.

The foundation for ReMemes will be the Meme Cards Artists ReMemes contract. Any Meme Card artist will be able to drop new art on this contract, whenever they want. 6529 compares it to Art Blocks Playground, where Curated artists have launched 2nd, 3rd, 4th, etc. collections within the Art Block ecosystem, requiring less vetting. 

The differentiator for the Memes will be in community inclusion - community members will also be able to drop art as decided by community vote. So ReMemes will also be created by community members, with a touch of community curation. The Art Blocks analogy here is closest to Factory, where new artists are introduced to the ecosystem with some vetting (but less than Curated).

This expansion will have a significant impact on supply. Here is the model that 6529 outlined:

  • The Memes: [x] cards
  • The ReMemes Artist/Community contract: 5x to 10x cards
  • All ReMemes: 100x to 1,000x cards

Taking SZN1 as an example, there were 47 Meme Cards, with a total supply of 33,287 NFTs. Thus there would likely be somewhere between 250 to 500 ReMemes, with a total supply somewhere in the 3M to 33M range.

There won't be many rules for creators to abide by, and 6529 will not set supply limitations. Supply and pricing will be determined by the creators. Of course, at least for community member creators, they will have to put forth a structure that will be amenable to the community curation vote.

As for timing, it seems that the first official ReMemes may drop in the next few weeks along with the broader "Festivities" planned by 6529. Then community ReMemes will begin in January or February of 2023, once the infrastructure is in place.

The market for the Memes SZN1 has been strong, up 13 percent in the past day, with several individual Memes up 40%-60%. The full set now costs 49.4 ETH, and the total floor market cap is $29.75M. This expansion is likely to lend more credence to SZN1 as the foundation for this ecosystem's expansion, and it will be interesting to follow along with how the market prices that factor in to SZN1 Meme value.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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