There’s a better way to describe decentralized social media apps — Memeland CEO

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On episode 46 of Cointelegraph’s Hashing It Out podcast, Ryan Chan, the CEO of Memeland — a Web3 venture studio created by 9Gag — explains why the Web2 company is building for Web3, the importance of decentralized social media and how social finance (SocialFi) may be the leading catalyst for Web3 development. Chan also shares his experience buying big-name nonfungible tokens (NFTs) at the peak of the bull run and joining some of the most exclusive crypto communities. 

Before launching Memeland, the 9Gag founder, who already had a considerable following, became a big name on X for buying blue chip NFTs. According to Chan, the primary purpose of those purchases was to learn from some of the best in the space who were in the exclusive communities created by top NFT collections. He explains that even though buying a lot of NFTs during the bull run has left him “down bad,” the lessons were valuable enough to shape his approach to his own Web3 project, Memeland.