Founded by the online alias “Darkfarms” in March 2024, BOOK OF MEME (BOME) is a cryptocurrency memecoin on the Solana blockchain that aims to build a permanent archive of memes. Here’s an introduction to the project and the potential of its coin.
Key takeaways
- BOOK OF MEME (BOME) emerged in March 2024 and is now valued up over 21,300% its launch price.
- Created by Darkfarms, father of Pepe, BOME aims to establish a permanent storage library for meme coins while functioning as a social platform for cross-chain storage.
- BOME token operates on Solana, and Arweave with IPFS.
- The project garnered substantial attention during its presale and has since seen considerable price appreciation, reaching an all-time high (ATH) of $0.02689 on 16 March 2024.
What is BOOK OF MEME (BOME)?
Book of Meme is an experimental project created by Darkfarms (PEPE memes’ father) looking to reshape the web3 area by combining meme coins and decentralised storage solution. User-submitted memes images are embedded in the Book of Meme using Arweave and InterPlanetary File System (IPFS), and they will then be permanently preserved on the blockchain.
BOME is the native token of the Book of Meme ecosystem. The token operates on the Solana blockchain and has recently emerged as a new rising memecoin star with a 3,000% surge in value within days of its inception on 10 March 2024.
At its core, Book of Meme is created on a set of innovative principles that guide its development and community engagement:
- Cultural Preservation: BOME is dedicated to preserving the dynamic and creative nature of meme culture by immortalising memes on the blockchain. This ensures that these cultural artefacts are safeguarded and accessible to future generations.
- Decentralisation: BOME embraces decentralised storage technologies to uphold principles of autonomy and censorship resistance.
- Community Engagement: BOME encourages active community involvement through activities like “degen shitcoin trading” and gambling. This engagement strengthens the community bond and contributes to the project’s vitality and evolution.
How does BOOK OF MEME WORK? Does it have any utility?
Book of Meme is designed to promote a new dimension of decentralised social media and make memes unstoppable. The blockchain is a dynamic digital book linked with metadata to the BOME token. It also contains links to user-uploaded images stored on IPFS, Arweave, or on-chain, and provides tools for meme creation. Additionally, it features a meme clipart gallery for community use and sharing.
As the meme collection grows, BOOK OF MEME may evolve into a decentralised social network or explore new avenues such as meme-based games.
Many useful tools will be integrated in Book of Meme, including the DF1 Meme Enhancer, CC0 Meme ClipArt Gallery, and Unminted or Unpublished memes.
BOOK OF MEME Tokenomics
The total supply of the BOME tokens is capped at 69,000,000,420 $BOME. Particularly, 50% of the supply will be on presale, 20% will be for locked up in a community fund that will be unlocked 3 months after launch, and 30% for liquidity pools.
Book of Meme was introduced on 10 March 2024 and went on presale on 13 March 2024. The event was announced on the official website and opened to anyone who sent $SOL to an address listed on the site. No exact price was set at the presale, and tokens were allocated by % of contribution after 24h mint. The event outcome exceeded Darkfarms’s expectations of 500 – 600 SOL tokens.
What is pushing BOME?
BOME’s success is largely attributed to their ability to tap into the viral and engaging nature of the meme culture. Memecoins leverage the appeal of recognisable characters, figures, animals, or artworks that can be easily imitated and shared. In the case of BOOK OF MEME, it represents a diverse array of well-known memes that hold a revered status within the crypto community.
Moreover, the allure of meme coins lies in their accessibility and potential for significant returns, despite their inherent volatility and speculative nature. With BOME, an additional draw is the involvement of its creator, a celebrated internet artist, father of the iconic Pepe memes. This association adds considerable appeal to the project and contributes to its overall attractiveness.
How to buy BOOK OF MEME with CoinSpot
If you want to buy BOME or other kinds of memecoins, it is advisable that you choose a suitable exchange. Buying BOME with CoinSpot is safe and straightforward.
First, you direct to the CoinSpot website and register for a CoinSpot account and verify in minutes. Then, deposit into your account and enter the amount of money you want to trade for BOME. Now click “Buy”, and that’s it! BOME is now stored in your wallet, and you can simply navigate there by clicking “Go to BOME Wallet.”
$BOME is now valued at $0.0106 USD, up over 21,300% from its launch price.
Is Book of Meme a good investment?
Deciding whether BOOK OF MEME (BOME) is a good investment involves weighing its potential pros and cons:
Pros:
- Unique Concept: BOME combines memes, decentralised storage, and cryptocurrency in an innovative way.
- Strong Initial Surge: The token experienced a notable price increase of over 3000% shortly after launch, indicating substantial interest and investment from the community.
- Multiple Utilities: BOME is designed with various use cases to explore, including meme preservation, storage incentives, trading, and governance, which could contribute to its long-term viability.
Cons:
- Memecoin Classification: BOME falls into the memecoin category, which tends to be highly speculative and influenced by hype and social media trends. This classification brings inherent risks.
- High Volatility: Like many memecoins, BOME is subject to significant price fluctuations, as evidenced by recent price drops. This volatility can make it a risky investment.
- New Project: BOME is a relatively new project with an untested concept. Its success over the long-term hinges on its ability to deliver on its proposed features and gain widespread adoption within its target audience.
Ultimately, investing in BOME or any memecoin involves understanding and accepting the associated risks. While its unique concept and early traction may be appealing, investors should exercise caution due to the inherent volatility and speculative nature of memecoins, particularly those tied closely to meme culture and social media trends. Conducting thorough research and staying informed about developments within the project and broader cryptocurrency landscape can help inform investment decisions.
FAQs
How is the price of Book of Meme determined?
BOOK OF MEME has a floating exchange rate – meaning its price is set by individual vendors based on available supply and demand. As BOOK OF MEME is a globally traded asset, the price can vary across the world based on order books, volume, exchange rates and service fees of each individual BOOK OF MEME exchange.
How does the Book of Meme work?
BOME operates as a memecoin based on the Solana ecosystem, aiming to create a decentralised library where each meme is permanently stored and secured on the blockchain. By combining Arweave and IPFS, BOME offers a solution for meme preservation. The Book of Meme also includes a constantly updated e-magazine.
How much does a Book of Meme cost to buy?
Cryptocurrency differs from other traditional trading options as you can make fractional purchases, meaning you don’t have to buy whole coins. This means you can start investing in BOOK OF MEME & other digital currencies with as little as $1!
Is it safe to buy Book of Meme?
Practising safe investing is best treated as a shared effort. Step one to buying BOOK OF MEME safely however is using a reputable exchange. For example, CoinSpot is the first Australian exchange to be awarded the internationally recognised ISO 27001 certification for security management and processes. Operating since 2013, it is Australia’s most trusted exchange.
How do you store your Book of Meme?
If you are holding BOOK OF MEME as a long-term investment, you can utilise a cold storage wallet and send your coins there. A cold wallet is a wallet which is completely offline (not connected to the internet) and is a popular option amongst people who prefer to hold their coins, rather than regularly trade.
