The rise of new tokens, coins, and currencies in the world of crypto has been staggering to say the least.
With over 1,500 different types of digital assets on CoinMarketCap alone, it’s easy for people to get lost in all these new coins popping up every day.
One type that has exploded in recent times is the so-called “meme” coins (also referred to as shitcoins or poocoins).
In this article I’m going to introduce you to my Ballbag, but before I do let’s set the scene a little. ;)
What are Meme Coins?
Meme coins are cryptocurrency coins with a funny name, symbol, or logo that is intended to be used as an online joke.
They’re usually created by the community and not officially backed by any company, but don’t let that fool you. There is a lot of money to be made in this space.
Where Do Meme Coins Get Their Value?
There is one question that is no doubt on the minds of many investors in cryptocurrency: how do coins get their value?
Well, it turns out that there are three factors that affect coin pricing.
The first factor is scarcity, which means the fewer coins available to purchase, the higher they will be priced.
The second factor is demand; if people want an item and are willing to pay for it in full or even more than its worth, then companies will charge as much as possible for said items.
Finally, there’s utility- what can you do with this coin? If not much at all other than speculate on its price fluctuations (like most cryptocurrencies), then the coin may not have any value at all.
So, What is Ballbag Token?
I knew you’d ask about my Ballbag before too long!
For starters, Ballbag was created to raise awareness for various men’s health issues such as prostate and testicular cancer. You gotta check ya balls, lads!
We also want to provide a little entertainment to holders and the public with various meme-driven marketing campaigns.
I mean, who doesn’t love to have a good chuckle at a scrotum joke?
We’re also donating 2% of the supply to men’s health charity organizations, with $5k already being handed over to Baggy Trousers UK! (as of June 15th 2021)
Besides Being Hilarious and Raising Awareness, Does It Have a Use?
As well as dedicating 2% of the supply to important cancer charities, we are creating the Ballbag Wallet.
The wallet will be a web and smartphone wallet app for holding, sending, and receiving cryptocurrency, specifically designed for charities that want to take more donations in Crypto.
Over time, we will seek to integrate this with some of the main charity fundraising platforms.
Sounds Amazing, Where Can I Get My Hands On Some Ballbag?
You can head on over to our website ballbagtoken.com for all the sacky goodness!