Coinbase helps creators get paid for cat memes

Cat memes. The original viral content.

I remember coming home from a long day of school and scrolling through pages like ‘Crazy Cats’ and ‘I Can Has Cheezburger?’ laughing my head off.

The internet and social media have come a long way since then. But cat memes remain. A beacon of human hope, they may very well be the last thing holding us all from falling into our demise.

Anyone chronically online knows that cat memes are still a large staple of internet culture.

No pet photo uploaded is safe from becoming a meme-able moment that can generate thousands of likes and engagement. And we all know these can lead to monetization.

Crypto platform Coinbase hones in on this phenomenon in a new hilarious campaign. The brand is encouraging creators to launch projects 'onchain' or as NFTs in order to reap the benefits of any replication, alteration and meme-ification of their images.

The ad stars Mister Miggles, a fluffy, very grumpy-looking cat, whose photo goes viral.

The photo serves as the foundation for thousands of memes and other humorous content.

A voiceover explains Miggles' journey from fluffy internet cat meme to logo and merchandise. The only issue is… Mister Miggles and his owner aren’t the ones making the money. Those who created the spinoffs are capitalising off his likeness.

The ad ends with a CTA to creators to post their projects as NFTs through Coinbase. This gives them more freedom and control over how their work is altered and monetised.

'The vast majority of creators don’t have control over their work, good ways to monetise it, or a direct relationship with their audience,' said Coinbase CMO Kate Rouch.

'Our goal with Mister Miggles is to show that onchain technology can help with a much-needed update to the economic models of the internet and empower creators big and small.'

Hell yeah, Coinbase.

Three out of four people think that creators deserve more control over what they create, according to a survey conducted by the brand.

Even the most successful creators only see a tiny part of the value they create online.

'Creators–musicians, artists, even cats–are what make the internet great because they make the content we all enjoy. But today's internet sidelines them, leaving them with only a fraction of the value they generate,' reads the Coinbase website.

This is why Coinbase wants to 'create a better internet for Mister Miggles, and all Miggleskind.'

How?

Non-fungible tokens allow creators to get paid from their patrons and have ownership over their original digital works. This is something that wasn't possible before onchain technology. These projects also have a trackable ID. Any modifications to the content, or even replicas, are traced back to the origin and its creator.

'The internet is broken. Want to update it with us?' -Coinbase, on X.

This new campaign comes as part of Coinbase’s second Onchain Summer. This is a multi-week challenge where creators post, remix, or change projects onchain for a chance to win prizes. Last year, huge brands including Coca-Cola joined the challenge by submitting onchain projects on Coinbase.

The platform is also inviting anyone to mint (create a unique digital asset on the cryptocurrency blockchain) the Mister Miggles film and remix the NFT. Users can then vote for their favourite versions and support the people behind the unique creations.

Proceeds from the NFT remixes go to the creators. Proceeds from the Mister Miggles film mint will go to a creator fund, which goes back to supporting onchain creators.

What a cool way to encourage people to interact with a technology that seems super foreign and confusing!

If you want to get involved in the fun, follow this link.

-Sophie, Writer