MemeChat, a home-grown meme community social media app has announced instant monetisation for its content creators to let them withdraw Rs 1,000 unlimited times in a single day.
The Instant Withdraw feature can be accessed through the updated Rewards section, which will provide access to movie tickets, giveaways, scratch cards and brand vouchers, which a creator will acquire by completing various tasks.
The Mumbai-based MemeChat was founded in 2019 by Kyle Fernandes and Taaran Chanana, It has successfully built one of the largest meme community in the country since its inception.
Its app has over 12 million downloads and over 30 million memes have been generated on the application.
“Our aim is to help the creator ecosystem realise the economic value of their community. We are driven to build an ecosystem that is both economically sustainable and progressive. Such initiatives will help enable creation and experimentation; acknowledging and reward performance and connect creators with economic opportunities like branded content. This is how talent across India will become visible to audiences nationally”, said, Kyle Fernandes, CEO and Co-Founder MemeChat.
MemeChat said that in addition to facilitating instant withdrawals, it also empowers the ever-growing meme maker community by monetizing memes on NFT marketplace-The Meme Club.
In January 2021, it had raised $150,000 in funding from global venture capital firms.
MemeChat is the ultimate go-to place that serves all kinds of content to GenZs in the form of memes.