What is MemeFi: where gaming and social tech merge

MemeFi is a social gaming ecosystem that includes both browser-based and Telegram games. The ecosystem has reportedly amassed more than 50 million users, placing it among other Telegram-based mini-apps that have attracted plenty of attention, such as Catizen and Hamster Kombat. What makes MemeFi distinct from other options is its heavy social element, creating a novel experience for players.

Interested in learning more? Read on as we explore what MemeFi is, how you can get involved, and the role of the MEMEFI and PWR tokens in the gaming ecosystem.

TL;DR

• MemeFi is a social tech game that combines a social economy layer with player vs player and player vs environment gameplay.

• 'Keys' form an important part of gameplay, allowing players to earn additional rewards, including gains from other players.

• MEMEFI is a multi-function token in the gaming ecosystem. It's used for governance, rewards, revenue share yield farming, and as an in-game currency. Players can also earn PWR tokens, which support the game’s economy but have fewer uses than MEMEFI.

What is MemeFi?

MemeFi's gaming ecosystem comprises two games — MemeFi Club and MemeFi Coin. What can players expect? According to the project's documentation, MemeFi is more than just a game but "a living, breathing world with its peculiar laws and history. It's a chaotic universe full of perils and mysteries that exist in a crazy environment of eternal war between meme clans and memes themselves." As such, players are encouraged to explore and plunder riches where they see fit, which is reflected in the game's social element.

Let's take a closer look at the ecosystem's two games.

MemeFi Club: fusing social tech and gaming

MemeFi Club is accessed via a web browser, and invites players into a vibrant world of memes and pop-culture references. Here, players acquire social keys and PWR token boosts as they set out to join clans, complete daily missions, defeat bosses, and take part in clan raids to earn MEMEFI tokens.

The game's social mechanism is a distinctive features. Players can climb the ranks to become clan leaders — called memelords. As a memelord, players are responsible for guiding their clans and making decisions to earn rewards. What's more, memelords can monetize their leadership. By trading keys, clan leaders can earn a share of rewards from other key holders, creating a mutually-beneficial relationship among players. According to the project, once the game launches on the mainnet, it'll be upgraded with competitive and skills-based features to encourage players to maximize their performance.

MemeFi Coin: the Telegram clicker game

MemeFi Coin, meanwhile, is a Telegram clicker game developed by the MemeFi team. However, it's not clear how MemeFi Club and MemeFi Coin are connected beyond this. MemeFi Coin should feel familiar to those who've already played Telegram clicker games, as it follows the same concept. However, where other clicker games are as simple as the name suggests — click to play — MemeFi Coin includes a deeper form of gamification. Here, players must tap to defeat enemies. There are multiple levels of enemies to overcome, with the game also incorporating a stamina system (similar to the energy system other games use), boosters, and upgrades.

Like MemeFi Club, memes play a prominent role. Upon starting the game, players are confronted with Pependalf — Pepe the frog in wizard form — as the first enemy. Social tech also features in MemeFi Coin to encourage participation. There's an incentivized leaderboard and a system of clans, which prompt players to boost their performance and earn more rewards.

About the key economy

While playing MemeFi Club, players will inevitably encounter keys. The key economy is a pillar of the game, as it supports the social side of gameplay and presents users with avenues to earn greater rewards through their interactions with other players.

Players can invest their own keys as well as those belonging to other players to earn yield from the rewards of others. According to the project, the price of keys scales based on a quadratic bonding curve — a type of smart contract that adjusts an asset's value based on its supply. Bonding curves typically help reward early adopters of assets, encouraging engagement early on in a project.

Keys provide multiple opportunities for extra in-game gains:

• Selling keys as their prices increase

• Earning fees from traded keys

• Gaining a portion of the player's earnings as MEMEFI yield

What are the MEMEFI and PWR tokens?

MEMEFI and PWR are the backbone of the MemeFi in-game economy, but what are their differences? Put simply, PWR is the in-app token whereas MEMEFI is used for governance and rewards.

PWR is meant to be a stable offchain token. Because of its stability goal, with a value normally fixed at $0.001, the token is used to determine prices for actions or items within the app. MEMEFI, on the other hand, has a broader utility. It's used as part of the project's governance process and for revenue sharing yield farming. MEMEFI also funds character progression, alongside other in-app purchases. MEMEFI has a maximum supply of 10,000,000,000 MEMEFI, distributed in the following way:

• 90% for community

• 5.5% for liquidity/centralized exchanges

• 1.5% for seed

• 1% for early adopters

• 1% for strategic developments

• 1% for partners

How to start playing MemeFi

Getting started with MemeFi is straightforward.

For MemeFi Club, you simply need to access the game’s webpage via a desktop browser here: stage.memeficlub.io. You’ll be asked to sign up and log in using a Google or Discord account, or via email.Note that to complete purchases in MemeFi Club, you'll need to hold some ETH in a wallet.

To access MemeFi Coin, search ‘MemeFi Coin’ in the Telegram app and tap the verified account. Here you'll find guidance on how to play the game, including the play and earn mechanism. Tap ‘Play’ in the bottom left of the screen to get started.

What’s next for MemeFi?

MemeFi has stated that a token generation event (TGE) is incoming. Post-TGE, the MemeFi Club’s economy will transition to a true pool model. Here, the MEMEFI token will play a more central role as the main currency for in-game purchases and player development.

Meanwhile, MemeFi Coin will reportedly become the basis for an ad network, used by companies and key opinion leaders to drive traffic in a cost-effective way. It’s not clear if this ad network will connect crypto publishers with advertisers, as is usually the case. Regardless, the game will include daily tasks with rewards granted, alongside a "new system of incentives.”

The final word

MemeFi rubs shoulders today with other high-profile crypto games of Notcoin and Hamster Kombat, but it stands apart with a more gamified build and a heavy social element. With two games in the ecosystem — MemeFi Club and MemeFi Coin — players can immerse themselves in a browser-based adventure or a Telegram-based clicker game, respectively, finding new opportunities to earn crypto rewards. With a TGE on the horizon, many will be keeping an eye on MemeFi and how it progresses in the future.

Want to learn more about Telegram mini-apps? Read our guide today.