Bags splurged 800,000 USD on the acquisition of the WIF prototype hat: a "sky-high marketing" gamble for the meme launchpad.

Author: Cookie

Original title: Did this meme launch pad spend nearly $800,000 on a $30 hat?

Pay attention, you can get a hat like this for just 30 dollars:

But yesterday, the founder and CEO of the meme launchpad Bags, @finnbags, spent 6.8 bitcoins (about 800,000 USD) to buy a pink wool hat identical to the one in the picture above.

The premium of 800,000 USD is the "original" value of the meme. The hat purchased by @finnbags is the one that appeared in the original meme of the famous meme coin $WIF(dogwifhat) on Solana in 2018. Now, this hat will forever leave the head of the cute little dog in the image above and go into Bags' hands.

In this auction, another strong competitor is @gr3gor14n. His highest bid once reached 6.6 bitcoins. He stated on Twitter that his plan is to buy this hat, then put the hat on his dog's head, and launch an unbundled $WIF2 coin.

@finnbags stated that he used all the revenue from the meme coin $BTH launched by the Bags platform to buy this hat. Currently, the market value of $BTH is close to 5 million dollars.

In the content of the tweet shown above, @finnbags stated that they can update the metadata of $BTH later. Additionally, both @finnbags and the official Bags Twitter account have already donned this hat, and some players hope this coin will be the first shot fired in the meme launchpad battle on the Bags platform. After all, $800,000 in real money has already been spent.

This morning, @finnbags tweeted again, announcing a reward of $250,000 for the first meme coin on the Bags platform to surpass a market value of $10 million and maintain it for 24 hours. Both the dev and holders of the winning token will be able to share in this reward.

Aside from $BTH, another strong competitor is $NYAN. This brings the classic rainbow cat meme to the Bags launchpad, and uses the fee income allocation feature of Bags to direct income to the original creator of the rainbow cat meme, @PRguitarman. This move successfully attracted interaction from the original creator of the rainbow cat meme.

Compared to the previous requirement for KOLs to personally issue tokens to unlock platform token airdrops at the boop launchpad, the income assignment feature of Bags gives creators/KOLs greater freedom. They no longer need to personally issue tokens and can also choose to remain completely silent and not receive this portion of the fees. Currently, it seems to be a more gentle and effective approach.

How high will the $BTH go in this $800,000 marketing campaign? Can Bags break through the meme launchpad battle? We shall see.