Simon’s Cat to Launch Memecoin on Floki’s TokenFi Launchpad

In an exciting development for the animated cat brand Simon’s Cat, a new memecoin is set to launch using the Floki’s TokenFi launchpad. The token issuance is anticipated to take place on August 8, 2023, as confirmed by Floki’s lead developer, known as B, in an interview with CoinDesk this past Wednesday.

This innovative token launch is a collaboration involving Floki, the BNB Chain, and crypto investment firm DWF Labs. TokenFi, which was introduced in 2023, serves as a sister project to Floki and aims to facilitate the transition of traditional internet brands into the Web3 space by enabling them to tokenize their assets. Additionally, TokenFi allows users to launch cryptocurrencies effortlessly, without the need for coding skills.

For those unfamiliar, Simon’s Cat is a beloved animated series that chronicles the humorous escapades of a perpetually hungry house cat. The franchise boasts an impressive following, with over 20 million followers across platforms like YouTube, Facebook, and Instagram. The content primarily consists of entertaining videos and memes featuring the mischievous cat.

As part of the memecoin’s rollout, a portion of its total supply will be airdropped to holders of the FLOKI token. Furthermore, additional tokens will be allocated to users who engage in trading Simon’s Cat using the Floki trading bot, thereby enhancing the value of the FLOKI token.

B highlighted the rapid growth of the cat memecoin sector, noting its current market capitalization of $2.9 billion compared to the more established dog memecoin sector, which boasts a market cap of $36 billion. “The largest dog coin is six times bigger than the entire cat memecoin sector, which illustrates just how nascent this market is at the moment,” B remarked during the interview.

While many existing cat memecoins are based on the Solana and Ethereum blockchains, Simon’s Cat is poised to be the first major cat memecoin on the BNB Chain, according to B.

This new memecoin will be officially linked to the mainstream Simon’s Cat brand, supported by the intellectual property (IP) held by Banijay. Notably, Banijay reported a remarkable revenue of $5.8 billion last year.

To promote the Simon’s Cat memecoin, the main Simon’s Cat brand is expected to leverage its strong presence across multiple social media platforms, including YouTube, Facebook, Twitter, and Instagram, ensuring robust visibility for this innovative venture.