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Cardano Ecosystem

TapTools

09/19/2023

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Snek Energy Launch: Cardano’s Memecoin Buzz

In the ever-evolving intersection of cryptocurrency and innovation, one project has emerged, creating waves in the crypto community by bridging the virtual and tangible realms.

Snek Energy Launch: Cardano’s Memecoin Buzz

In the ever-evolving intersection of cryptocurrency and innovation, one project has emerged, creating waves in the crypto community by bridging the virtual and tangible realms. Meet Snek, not just another memecoin on the Cardano blockchain, but a disruptive force with a unique twist. Snek is poised to leave a lasting impact as it embarks on a journey into real-life utility through Snek Energy.

Snek Energy Announcement

Snek Energy was announced with a teaser trailer on X, on July 1st, 2023. This couldn’t have come at a more opportune time, coinciding with Cardano’s DeFi summer. During this period, Cardano experienced a surge in transaction volume, reflecting the rising sentiment among DeFi Enthusiasts and traders in the Cardano ecosystem.

One standout feature of the Snek Energy presale was its innovative distribution model. Initially, the energy drinks were exclusively available for purchase to buyers within the United States, who not only bought the product but also received physical shipments. For those outside the US, a unique option was available — “charity purchases” — where they could support the project without receiving physical products while still qualifying for airdrop rewards associated with the presale.

Lifetime Utility

One of the most intriguing aspects of the Snek Energy project is the promise of a lifetime airdrop. This airdrop is set to be funded by a percentage of the revenue generated from each case of Snek Energy sold. Notably, the first airdrop will be calculated exclusively from cases sold directly to consumers (B2C). Business-to-business (B2B) purchases will be excluded from this reward scheme.

Those who participated in the presale will enjoy a plethora of additional perks, including access to exclusive benefits and Snek airdrops tied to every future sale. This innovative approach not only incentivizes early supporters but also creates a strong sense of community around the project.

Impressive Presale Performance

The Snek Energy presale witnessed an astounding 5,000 cases sold, including both USA packs intended for shipment and Charity Packs. With the sale starting on July 4th, the Snek Energy project managed to raise an impressive $250,000 USD within 3 days.

This accomplishment is a testament to Snek’s position as the first memecoin to venture into the realm of tangible products while simultaneously providing users with real-life utility on the Cardano blockchain.

Behind the Scenes

Goofycrisp, the founder of Snek, shared insights into the tireless effort that went into bringing Snek Energy to life. “Stress, sweat, time, excitement, questioning, joy, hard work, so much got into this” he tweeted. Goofycrisp emphasized that Snek Energy is not a white-label product; instead, it was meticulously crafted from the ground up. This means the Snek team did not have Snek Energy made from a premade product by a third party. The team collaborated with chemists to formulate the energy drink, sourced ingredients from various suppliers, and partnered with different companies to manufacture the cans, fill them, and distribute the product.

Months of dedication were poured into branding, intellectual property matters, contracts, and legal consultations to ensure a smooth journey ahead. Designers and videographers were also instrumental in creating an appealing label and captivating promotional videos.

In just three months, while managing the largest memecoin on Cardano, the Snek team achieved remarkable success. They not only sold over 60,000 cans during the presale but also secured partnerships with restaurants, bars, and a prominent regional delivery app.

What Lies Ahead

With the product complete and ready for shipment, the Snek team has ambitious plans for the future. They are set to launch a new professional website, http://snek.energy, which will be fully integrated with Shopify. This integration will enable users to make purchases using $SNEK, opening up exciting possibilities for the cryptocurrency.

Looking ahead, Snek aims to expand its brand presence and drive the adoption of $SNEK. The team is gearing up to showcase Snek Energy at NFTxLV, scheduled from September 29th to October 1st, 2023, in Las Vegas, Nevada. This event promises to be a pivotal moment for Snek as it continues to bridge the gap between the crypto world and real-world utility.

Snek Token Performance

Snek is up over 14.00% in the last week and has a market cap of
56,513,086 ₳ , placing it at #10 in the top 25 native tokens on Cardano by circulating market cap. Snek has over 95% of its supply circulating with an average holder age of 111.41 days. You can view the Snek chart here.

Conclusion

Snek Energy is a pioneering project that combines the best of both digital and physical realms, offering crypto enthusiasts a unique opportunity to engage with a memecoin that truly delivers. As the project gains momentum and expands its horizons, it will be fascinating to see how Snek continues to shape the future of blockchain-based utility.

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ORIGINAL SOURCE

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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