Emily Walker
There has been little news regarding Sony’s Layer-2 blockchain, Soneium, since its testnet launch in 2023. Recently, the company kicked off a four-week contest aimed at enabling creators, developers, and users to delve into what Soneium can offer.
The initiative will take place on the Galxe platform and will center on aspects like gaming, communication, and creativity.
Sony’s robust investments in media production via Sony Pictures and Sony Music reveal that Soneium aims to empower artists, game developers, and fans by promoting accessible and inclusive content.
This spirit of collaboration aligns with the key principles of Web3, especially in decentralized autonomous organizations (DAOs) such as Lido and MANTRA, where community governance helps steer projects towards common goals, often achieving results more effectively than centralized systems.
Should Soneium achieve widespread acceptance, these DAOs might see increased interest in their community-first initiatives.
1. Wall Street Pepe ($WEPE) Collects $63M with a Community-Driven Model
Wall Street Pepe ($WEPE) is an intriguing crypto project echoing DAO-like characteristics. Currently in presale, it has raised an impressive $63M, making it the second-most popular presale to date, trailing only Pepe Unchained.
Its success stems from community backing resisting institutional investors, with presale participants tired of market manipulation by big players and rallying together.
Holders of $WEPE will gain access to essential trading insights, helping them discover profitable crypto opportunities.
While Wall Street Pepe is not a DAO in the strictest sense, it exhibits many of its features by:
- Fostering a strong community and dedicated user base
- Incentivizing user involvement in ecosystem decisions
The project aims to empower unbanked individuals, creating a more equitable crypto market where everyday traders are not at the mercy of large holders.
Despite the established concept of DAOs, Wall Street Pepe’s approach encourages active participation like never before. In traditional DAOs, users often overlook their governance rights due to a lack of strong motivation—Wall Street Pepe aims to change this.
The presale is still ongoing; thus, there’s a chance to invest in $WEPE at a favorable price before it becomes widely accessible. Analysts predict $WEPE could experience a 100x increase when it launches on exchanges.
2. MIND of Pepe ($MIND), an AI-Powered Agent with Promise
MIND of Pepe ($MIND) is another community-focused meme coin presale that introduces a novel DAO-like reward system.
This AI agent is designed to provide crypto insights by analyzing market trends and intelligence in real time.
What’s more, this process will be automated. The AI will independently communicate with influencers and engage with various decentralized communities and platforms.
Although it may not be a conventional DAO, $MIND operates similarly. Holders will receive exclusive rewards in the form of valuable crypto insights.
Participants are encouraged to HODL and bolster the ecosystem through staking their tokens, with more than 670M tokens staked so far, achieving an impressive 522% APY.
The current price for one $MIND token is $0.0032144, and the presale has amassed $4.2M, with a price increase anticipated within the next 14 hours.
With the AI sector projected to reach $826B by 2030, it’s clear why AI-driven projects like $MIND are attracting strong investor interest.
3. Audius ($AUDIO), Possible Revitalization with Soneium
Audius, a well-known project that launched in 2020, experienced a decline following its initial excitement, with its $AUDIO token value plummeting from $4 to $0.13.
The upcoming launch of Soneium’s mainnet could rejuvenate $AUDIO.
Audius provides a decentralized music streaming service, empowering creators with complete control over their content while facilitating direct communication between artists and fans through messaging and live streams.
Unlike traditional streaming platforms like Spotify, which can take a significant cut of artist earnings, Audius allows artists to keep 100% of their revenue through a tipping system.
Given their shared vision, Audius might transition from Solana to the Soneium network in the future.
4. MANTRA ($OM), Up 4,503% This Year: What’s Next?
MANTRA ($OM), the second-largest DAO token, boasts a $4.4B market cap and has surged 4,503% since January 2024, recently hitting an all-time high of $5.
What makes MANTRA stand out, and is this its peak?
As a decentralized finance protocol, MANTRA provides services like staking, lending, and tokenization of real-world assets, with community-led governance being one of its key attractions.
Additionally, MANTRA’s integration with the Cosmos ecosystem enables seamless interaction with other blockchains via the Inter-Blockchain Communication protocol.
Being an Ethereum-based venture, MANTRA could potentially incorporate Soneium into its framework, setting a precedent for other DeFi projects on the network.
Conclusion
The fundamental distinction between Web2 and Web3 lies not in technology but in vision. Initiatives such as Soneium, Wall Street Pepe, MIND of Pepe, Audius, and MANTRA are pioneering new governance and economic frameworks where everyone’s contribution is valuable.
Nonetheless, it is essential to note that while these initiatives are promising, the crypto market is inherently unpredictable. We advise conducting thorough research and diversifying investments to mitigate potential risks.