- Simon’s Cat has announced the launch of its very own memecoin
- The coin launch on August 8, marking a first for cat memecoins
- The launch has been coordinated with Floki, BNB Chain, and DWF Labs
Simon’s Cat, the popular animated cat brand, is set to launch its own memecoin in collaboration with Floki, BNB Chain, and DWF Labs. The token issuance is scheduled for August 8, marking a significant move into the cryptocurrency space for the mainstream brand. This venture makes Simon’s Cat the first major cat-themed memecoin on the BNB Chain, backed by the brand’s intellectual property, which generated $5.8 billion in revenue last year.
From Cartoons to Memecoin Trailblazer
Simon’s Cat began as a series of YouTube cartoons in 2008 and has gone on to become an entertainment behemoth, with videos pulling in tens of millions of viewers. The brand will now get the crypto treatment in a tie-in with Binance’s BNB Chain, dog meme chain Floki and web3 investor and market maker DWF Labs.
The memecoin launch will utilize Floki’s TokenFi launchpad, a platform created to help traditional internet brands transition into web3 projects. TokenFi, established in 2023, allows users to launch cryptocurrencies without the need for coding skills.
Simon’s cat says the ticker is… pic.twitter.com/4Y6UInfW6C
— Simon’s Cat Token (@SimonsCatMeme) July 31, 2024
Cats Have Some Cat-ching up To Do
Floki’s lead developer, known as B, spoke to Coindesk about the launch, highlighting the burgeoning cat memecoin sector and its current market cap of $2.9 billion. In comparison, the dog memecoin sector stands at a hefty $36 billion market cap, and B emphasized the growth potential for cat memecoins, particularly with the introduction of Simon’s Cat on the BNB Chain:
The cat memecoin sector is a budding and rapidly growing sector: it is worth $2.9 billion market cap compared to the dog memecoin sector worth $36 billion market cap. The biggest dog coin is 6x bigger than the entire cat memecoin sector, showing just how small the sector is right now. While other major cat memecoins are based on Solana and Ethereum blockchain, Simon’s Cat will be the first major cat memecoin on the BNB Chain.
If the cat memecoin market was looking for a posterchild, in Simon’s Cat it has undoubtedly found it.
Banijay, the company that holds the Simon’s Cat IP, will leverage its extensive media reach to promote the new memecoin, with advertising efforts spanning YouTube, Facebook, Twitter, Instagram, and other channels associated with the Simon’s Cat brand.
