Meme Protocol – a DeFi and NFT crossover – has announced its very first artist collaboration, teaming up with LA-based digital artist Sven Eberwein.

Four limited-edition digital artworks will be made available to Meme Protocol stakers, in varying quantities and rarities. Users stake a maximum of 5 MEME to earn pineapple points which can be redeemed to mint a Sven Eberwein collectible artwork.

Sven Eberwein is a digital artist based in Los Angeles, who has recently found himself at the center of a cryptocurrency non-fungible token (NFT) craze. One of his recent pieces sold for more than 3.5 ETH on the NFT marketplace, SuperRare.

The Origins of MEME

The story of Meme Protocol’s inception is just about as wild as the concept itself, all beginning with a simple tweet about the idea in mid-August:

 

The idea didn’t remain just a tweet for long, however, as it quickly went semi-viral and came to life within an impressive 30 minutes – complete with contract deployment, airdrop, and liquidity locked into Uniswap.

Despite its comedic value, the project is a fully-functional combination between the two hottest topics in cryptocurrency at the moment: Decentralized finance (DeFi) and non-fungible tokens (NFTs).

Whereas other DeFi protocols encourage the staking of tokens in exchange for platform fees or governance tokens, MEME instead rewards users with points to mint limited edition NFTs. These artworks – primarily consisting of cryptocurrency meme content – can be held, exchanged, or sold on the open market.

Rapidly gaining steam, the project was even noticed by YFI founder Andre Cronje, who ended up purchasing a “legendary” NFT from the platform, which featured a humorous rendition of himself.

 

MEME now

The platform already has a rapidly growing community, with more than 200ETH of volume on its NFTs via OpenSea.

As of today, MEME boasts a $10 million market cap – not bad for a crypto mash-up that started as a tweet!

Moving forward, MEME will be rolling out a suite of new features, including more utility for the NFT’s minted on the platform, more artist commissions, and of course, more memes.

To stay up with Meme Protocol, follow them on Twitter.