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Sunday, December 4, 2022

Queen Elizabeth Memecoins Floods The Crypto World

Queen Elizabeth II’s demise was mourned with a meme coin this week, and its makers say the token is no longer available for purchase.

The Queen Elizabeth Meme Coin (QMC) was created by the start-up Blockchain Lab Asia and launched hours after her demise. It’s not actually a cryptocurrency; rather, it’s an NFT that represents a crypto asset called “Queen Elizabeth MC Token”—which can be exchanged for other digital assets or used to buy goods and services from participating merchants.

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The company has also created additional memes based on characters from The Simpsons cartoon series as well as several famous Internet startups like Google and Netflix. All of these tokens are linked together through an Ethereum smart contract so they can be exchanged between different wallets owned by users who agree on what each one is worth at any given moment in time. 

But before we go into more detail about how QMC works exactly—and why you might want one yourself—let’s look back at some history first! The crypto community is seeing a flood of new collectibles, and the Queen of England is getting some recognition. The two developments are related but not entirely coincidental: the surge in popularity of NFTs (non-fungible tokens) has led to an increase in the number of people interested in making memes, which might seem like a niche market at first glance but actually offers plenty of opportunities for growth.

NFTs are not a new phenomenon. They were made famous by CryptoKitties, which allowed users to buy, sell and breed digital cats that can be stored on the Ethereum blockchain.

Queen Elizabeth Get Late Recognition

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NFTs have since become popular in gaming and social media platforms as well. For example, Beeple created a NFT of his first tweet using the ERC-721 standard and sold it for $2.5 mln in ETH and BTC recently. A Twitter user also sold an NFT of his first tweet for around $2.5 mln in ETH and BTC earlier this month.

NFTs are digital collectibles that can be bought and sold on secondary markets like OpenSea or Rarebits without being regulated by governments like traditional securities like stocks or bonds would be; this means they can function as investments vehicles as well as fun toys for collectors.

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