Meme coin incubator CoreSky has raised $15 million in Series A funding, to accelerate the development of its platform.
The funding, which brings the company’s total backing to $21 million, was led by Tido Capital with participation from WAGMI Ventures, CoPilot Ventures Studio, Web3vision, and Parallel Ventures.
CoreSky’s platform enables user voting to gauge public opinion in the early stages of a meme token’s development.
Meme coins have experienced a significant surge in popularity in the last year, becoming a notable phenomenon in the cryptocurrency market. This rise is attributed to several factors, including high-profile endorsements, political developments, and the increasing influence of internet culture on financial markets.
Despite the challenges presented by scams and rug pulls, the enthusiasm for meme coins persists. For many observers, they represent the community aspect of the cryptocurrency market, as well as the blending of internet culture with financial innovation.
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