Social-Fi appears to be making a comeback, and this time, it's packaged in a memecoin launchpad app called Clout.Me.
Clout enables influential X users with 10,000 or more followers to launch their own official social tokens within the app. When a user sets out to create their token, Clout.Me hosts a presale where any of the app’s users can contribute to purchase the token early.
The platform’s first social token, produced by its founder Ben Pasternak, launched on Jan. 23 and quickly rose as high as a $75 million market capitalization. The token has cooled off since and currently changes hands at a $47 million valuation.
While other social token presales launched by well-known crypto personalities like Imran Khan, Based16z, and Vine founder Rus Yusupov have successfully filled their presales, the overwhelming demand for the application has resulted in temporary malfunctions. As a result, these tokens are currently stuck in a pending state, meaning they are not tradeable via DEXs until a fix is pushed.
Pasternak took to X and said, “I’m so sorry that the app is acting up right now. We did not expect this much traction to come so quickly. The product will improve in stability in coming days.”
Qiao Wang of Alliance DAO confirmed the organization's role in incubating Clout.Me, and Imran Khan, another lead at Alliance, said, “The future of social media influencing will shift from cheap follows and bots to authentic, skin in the game users, where users will commit capital to own your reputation. Influencers will compete with each other not based on how many followers they have but what they are worth in real-time.”
The launch comes at a time when the memecoin space is obsessed with variations of social tokens following Donald Trump’s memecoin launch. In the aftermath, a frenzy ensued amongst memecoin traders, which resulted in fake “official” Elon Musk and Barron Trump tokens rallying above $200 million based purely on speculation.
