Pain ($PAIN) is a meme-based project incubated by Memeland. This is a Web3-focused venture studio launched by Ray Chan, the co-founder of 9GAG (social media website). The project takes inspiration from the famous meme "Hide The Pain Harold”.
Description
Here’s how it works:
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$PAIN Memecoin: $PAIN is a Solana-based memecoin that had a record-breaking presale. There was no fixed price, so token allocation depended on how much people contributed. The presale raised 186,000 $SOL in 48 hours, the largest ever for a Solana memecoin. Interestingly, 80% of these funds will be refunded, as the founders claimed they don’t need that much.
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Memeland Backing: Memeland venture studio (founded by Ray Chen from 9GAG) focuses on connecting creators and communities in Web3. It uses NFTs and tokens to build value-sharing networks. Memeland played a significant role in promoting $PAIN through its ecosystem and social media channels.
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About 9GAG: 9GAG is a global social media platform and entertainment website. It’s primarily known for its user-generated content and meme-sharing community. 9GAG attracts 150 unique million visitors per month across its website and mobile apps according to some sources.
In summary, Pain project combines meme culture with crypto tokens. Its ties to 9GAG and Memeland helped it achieve a record-breaking interest, even though most funds will be refunded.