The rise of the MEME project, BC 404 protocol becomes a new highlight

Recently, with the German government completing its Bitcoin sell-off, the crypto market experienced a rapid decline but has started to slowly rebound. The MEME project has performed outstandingly during this rebound, providing investors with the opportunity to seek potential projects and plan for the future.

The MEME project has played an important role in this round of the bull market. Due to the issues of high valuations and unreasonable token allocations in traditional VC projects, market funds have shifted towards MEME, driving the prosperity of the MEME ecosystem. However, the success of the MEME project relies not only on the transfer of market funds, but also on its strong user base and consensus, which are key factors in gaining market favor.

Currently, the market mainly focuses on homogenized MEME tokens, while the attention towards MEME in NFT form is relatively low. Although there are certain limitations in the trading liquidity of MEME in NFT form, the widespread dissemination of MEME is precisely derived from these "small images" in terms of value embodiment. NFT version MEME plays a key role in the entire ecosystem, but it currently lacks a breakthrough opportunity.

In this context, the ERC 404 protocol has attracted the attention of developers. ERC 404 is known as a semi-fungible token, possessing characteristics of both fungible and non-fungible tokens, allowing for splitting and merging. Based on ERC 404, a new protocol BC 404 has emerged, bringing new gameplay and application scenarios to the industry.

The BC 404 protocol is optimized based on ERC 404, adding a curve model binding function. This allows the token generation process to control the rate or quantity of token generation based on the generation difficulty, similar to the mining difficulty mechanism. As the number of participants increases, the number of tokens required to generate NFTs will gradually increase, enhancing the scarcity and value of the tokens.

For investors, newly generated NFTs may command a premium compared to fungible tokens, thereby increasing the value of NFTs. The rising cost of generation also enhances the scarcity of NFTs, while the uniqueness of the numbering makes NFTs more distinctive, laying the groundwork for more interesting gameplay in the future.

Currently, several well-known institutions and projects have established partnerships with the BC 404 protocol to jointly explore application areas and scenarios. Some projects have already initiated token conversion activities, such as the conversion between PEPE and COLORPEPE. These activities provide users with participation opportunities while also preparing for potential airdrops and other incentive measures in the future.

For users, participating in the conversion pool of the BC 404 protocol incurs almost no additional minting costs, but it may yield premium returns from new NFT tokens. This model is very user-friendly and also contributes to the vibrancy of the ecosystem. As more application scenarios are developed, the BC 404 protocol is expected to play a larger role in the MEME ecosystem, making it worth the continuous attention and involvement of investors.