Meme Community App MemeChat Enhances Content Monetisation, Launches Instant Withdrawal

Empowering the meme community worldwide, MemeChat (MC), the country’s only meme community social media app has introduced instant monetization for its creators. Being the first ever brand to introduce instant withdrawal, a meme creator can withdraw Rs 1000 unlimited times in a single day.

As per the report, India, with 700-750 million users, has the world’s second-largest and fastest-growing Internet user base. Indians, on average, spend 38 minutes per day watching short-form content. However, the withdrawal option provided by mobile applications via IMPS or NEFT is a gestation period of around 3-7 days.

The instant withdrawal feature by MC can be accessed through the updated reward section which will provide access to movie tickets, giveaways, scratch cards, and brand vouchers which a creator will achieve by completing various tasks.

Speaking on the development, Kyle Fernandes, CEO and Co-Founder MemeChat said, “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.”

Over the last three years, MemeChat has successfully built one of the largest meme communities in the country. With over 12 million+ downloads and over 30 million memes generated on the application, MemeChat continuously innovates to stay true to the motto of - Make Memes Earn Money. In addition to the feature of instant withdrawal, MC also empowers the ever-growing meme creator community by monetizing memes on The Meme Club - An NFT Marketplace.

About MemeChat:

MemeChat is an application that was launched in 2019. MemeChat has emerged as one of the most popular homegrown social media networking apps for Generation Z and millennials. The app gathered a dedicated following in just a year with more than 1.2 million monthly active users (current user base of 12 million+ Downloads) and over 30 million memes.

MemeChat has officially worked with top Indian OTT platforms like Hotstar, Amazon Prime Video, Moj, Sharechat, EaseMyTrip, McDonald's, India Terrain, Slice, MediBuddy, PVR, NiyoX, MxPlayer, Paytm, Netflix, Zee5, and Codashop, creating their user-generated memes.

MemeChat recently secured more than USD 1 million in its second round of funding led by Beenext, a Singapore-based venture capital firm., became the only Indian startup to be included in the '500 Startups, one of the most active global venture capital firms’, a distinguished accelerator program for its 27th batch in 2020. The company recently launched India’s 1st exclusive NFT Marketplace for Memes called The Meme Club.

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