The popular animated cat brand Simon’s Cat is set to launch its own memecoin in partnership with Floki, BNB Chain, and DWF Labs.
The token issuance is expected to take place on August 8, marking the first major cat memecoin on the BNB Chain. This initiative leverages the TokenFi launchpad, a platform created by Floki to help traditional internet brands tokenize into Web3 projects.
Details of the Token Launch
A portion of the Simon’s Cat memecoin supply will be airdropped to existing FLOKI token holders.
Additionally, another portion will be distributed to users who trade Simon’s Cat memecoins using the Floki trading bot. This distribution strategy is designed to add value to the FLOKI token and engage the existing crypto community.
The Simon’s Cat memecoin is backed by the well-established intellectual property (IP) of the Simon’s Cat brand, which earned $5.8 billion in revenue last year through its owner, Banijay.
The brand, known for its humorous animated series about a hungry house cat, boasts over 20 million followers across YouTube, Facebook, and Instagram. This significant online presence is expected to aid in promoting the memecoin across various social media platforms.
Floki lead developer B highlighted the growth potential in the cat memecoin sector. “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,” B said in an interview.
“The biggest dog coin is 6x bigger than the entire cat memecoin sector, showing just how small the sector is right now.”
Unlike other major cat memecoins which are based on the Solana and Ethereum blockchains, Simon’s Cat will be the first significant cat memecoin to launch on the BNB Chain. This unique positioning could help it capture a new segment of the market.
The main Simon’s Cat brand will support the memecoin launch by advertising it across its popular channels, including YouTube, Facebook, X, and Instagram. This comprehensive promotional effort is expected to drive significant interest and adoption of the new token.
