Don't Buy MEME: Pioneering NFT & DeFi Integration
Eric Tesenair
"Don't Buy MEME" emerged as a groundbreaking platform in the NFT landscape, catering specifically to artists, communities, and creators. Launched in the latter part of 2020, it proudly stands as one of the inaugural NFT platforms and holds the distinction of being the first to ingeniously merge NFTs with DeFi, setting a precedent in the digital art and finance fusion.
A standout feature of MEME was its innovative artist pool contracts. These contracts empowered users to stake their MEME tokens, in return earning pineapple points. These points could then be redeemed for exclusive NFTs crafted by the artist they supported. Ensuring fairness, the contract incorporated a mechanism that capped the number of tokens a single address could stake. With a straightforward accrual system, users gained one point per token staked daily.
Technologically, the platform was ahead of its time. The website was architected using NextJS, deployed on Vercel for optimal performance, and integrated with Prisma for efficient data management. MEME's early adoption of these technologies positioned it as a trailblazer in the web3 domain.
Beyond the primary user-focused application, MEME introduced an advanced administration dashboard tailored for backend tasks. This centralized hub allowed for the seamless management of various aspects of the NFT ecosystem. Administrators could effortlessly onboard new artists, manage artist pool contracts, handle NFT listings, and curate spotlight content, ensuring the offerings remained up-to-date and relevant.
The project's success didn't go unnoticed. It was subsequently acquired by Nifty's, a testament to its technological prowess and innovative approach. Leveraging MEME's foundational technology, Nifty's launched collaborative projects with industry giants such as Warner Brothers, HBO, Sony, and Discovery, as well as fostering partnerships with independent creators.
