Memits

Memits are a type of digital collectible, often referred to as non-fungible tokens (NFTs), that represent ownership of a meme. These are typically created by the original meme creators or by individuals who acquire the rights to a specific meme. Memits function similarly to other NFTs, with ownership recorded on a blockchain, which provides a verifiable and transparent ledger of transactions. The value of a memit can fluctuate based on factors such as the meme's popularity, cultural significance, and the perceived rarity of the memit. The concept of memits emerged as a way for meme creators to monetize their creations and for collectors to invest in internet culture. The market for memits is a niche within the broader NFT space and is subject to the same volatility and speculation. Purchasing a memit typically involves using cryptocurrency on NFT marketplaces.