Ship or Die at Accelerate 2025: Lightning Talk: 9GAG (Ray Chan - $MEME)

In a surprising turn of events, Ray Chan, the founder of 9GAG, took the stage at Solana's Accelerate 2025 to share his journey from creating a meme-sharing platform to launching NFTs and a meme-inspired cryptocurrency. His talk revealed how 9GAG has adapted to the changing digital landscape and embraced Web3 technologies.

Summary

Ray Chan's presentation at Accelerate 2025 offered a unique perspective on the evolution of meme culture and its intersection with blockchain technology. He recounted 9GAG's humble beginnings as a platform for sharing "funny pictures" in 2008, long before the term "meme" became mainstream. Chan then detailed the company's growth, from joining Y Combinator to raising seed funding, and eventually diving into the world of NFTs and cryptocurrencies.

The talk highlighted 9GAG's transition into the Web3 space, including the launch of several successful NFT collections and the creation of their own token, $MEME. Chan emphasized the importance of community building and the challenges that come with it in the crypto world. He also touched on the company's latest move: acquiring a public company in Hong Kong and renaming it "Meme Strategy," with plans to bridge the gap between traditional finance and meme coins.

Throughout his speech, Chan shared valuable insights on the nature of online culture, the difficulties of maintaining a community, and the importance of commitment in the face of challenges. He concluded with a call to embrace growth through adversity and to remain committed to one's vision, even in the volatile world of Web3.

Key Points:

The Origins of 9GAG and Meme Culture

Ray Chan co-founded 9GAG in 2008 as a platform for sharing funny pictures, predating the widespread use of the term "meme." The site was created to solve the problem of slow image sharing through instant messaging services like AOL and MSN Messenger. 9GAG's mission was to make the world happier by facilitating the sharing of humorous content.

The company's early success led to participation in prestigious startup programs like 500 Startups and Y Combinator. Chan noted that 9GAG had been sharing memes even before Satoshi Nakamoto created Bitcoin, highlighting the platform's long-standing presence in internet culture.

9GAG's Transition to Web3

In 2022, Chan became interested in NFTs, initially skeptical but quickly understanding their appeal after purchasing his first digital asset. He recognized the dual purpose of NFTs: joining exclusive communities and displaying wealth or status. This realization led 9GAG to launch its own NFT collections.

The company released three NFT collections: UWNVP, Potatoz, and The Captains. Notably, Potatoz became one of the highest-priced free mint NFTs after CryptoPunks. These ventures into NFTs were 9GAG's first steps into the Web3 space, leveraging their experience in community building.

Launch of $MEME Token and Meme Strategy

Following the success of their NFT collections, 9GAG launched its own cryptocurrency token called $MEME. The token was introduced through Binance's launchpool and became the largest launchpool project of 2023. This move represented 9GAG's full embrace of the crypto ecosystem.

In early 2025, 9GAG took a bold step by acquiring a public company in Hong Kong and renaming it "Meme Strategy." Inspired by MicroStrategy's Bitcoin-buying strategy, 9GAG aims to create a bridge between traditional finance and meme coins. This acquisition allows institutional and retail investors to gain exposure to meme coins through a publicly traded company.

Lessons Learned in Community Building

Chan shared several key insights from his experience in building online communities:

1. Culture is a verb: Online culture is constantly evolving, and community leaders must adapt while respecting the past.
2. Community is challenging: Members can be fickle, especially when token prices drop, but community remains essential to Web3 projects.
3. Challenges foster growth: The constant challenges in the crypto space provide opportunities for personal and professional development.
4. Commitment is underrated: Long-term success requires unwavering commitment, even when facing setbacks.

Facts + Figures

• 9GAG was founded in 2008 by Ray Chan and four co-founders
• The company raised $2.1 million in seed funding from U.S. investors
• 9GAG joined 500 Startups in 2011 and Y Combinator in 2012
• Ray Chan spent approximately 3,000 ETH on NFTs when the price was around $4,000
• 9GAG launched three NFT collections: UWNVP, Potatoz, and The Captains
• Potatoz became one of the highest-priced free mint NFTs after CryptoPunks
• The $MEME token was launched on Binance's launchpool
• $MEME was the biggest launchpool project of 2023
• 9GAG acquired a public company in Hong Kong in early 2025
• The acquired company was renamed "Meme Strategy" with the stock code 2404

Top quotes

1. "We literally have been sharing memes before Satoshi created Bitcoin."
2. "Culture is a verb. A lot of the people in this space, they talk about culture, right, for meme coin guys, they talk about culture, for NFT guys, they talk about culture, and most of the time, they think that, oh, I'm the OG, right, OG should be respected, but the thing is, culture is a moving work."
3. "Community is a bitch... but at the end of the day, you love that bitch, because without that bitch, there's nothing that you can feel."
4. "Challenge is growth... embrace the challenge, it's something that we need to do as a founder, or even as a human being."
5. "Commitment is underrated... if a random guy from Hong Kong can build a company, right, for over 17 years, right, by just sharing funny pictures, maybe we all can be more committed."

Questions Answered

What is 9GAG and how did it start?

9GAG is a platform for sharing memes and funny pictures that was founded in 2008 by Ray Chan and four co-founders. It began as a solution to the problem of slow image sharing through instant messaging services, allowing users to easily share humorous content on a dedicated website. The founders' goal was to make the world happier by facilitating the sharing of funny pictures, which later became known as memes.

How did 9GAG transition into the Web3 space?

9GAG's transition into Web3 began in 2022 when Ray Chan became interested in NFTs. After personally investing in NFTs, Chan recognized their potential for community building and as a means of displaying status. This led 9GAG to launch its own NFT collections, including UWNVP, Potatoz, and The Captains. Following the success of these NFTs, 9GAG created its own cryptocurrency token called $MEME, which was launched on Binance's launchpool.

What is Meme Strategy and how does it relate to 9GAG?

Meme Strategy is a public company in Hong Kong that was acquired by 9GAG in early 2025. The company was renamed from its original identity to align with 9GAG's vision of bridging the gap between traditional finance and meme coins. Inspired by MicroStrategy's Bitcoin-buying strategy, Meme Strategy aims to provide institutional and retail investors with exposure to meme coins through a publicly traded company. This move represents 9GAG's latest step in its evolution from a meme-sharing platform to a player in the Web3 and crypto space.

What lessons did Ray Chan share about building online communities?

Ray Chan shared several key lessons about building online communities:

1. Culture is constantly evolving, and community leaders must adapt while respecting the past.
2. Communities can be challenging to manage, especially during market downturns, but they remain essential to Web3 projects.
3. Challenges in the crypto space provide opportunities for growth and development.
4. Long-term success requires unwavering commitment, even in the face of setbacks and criticism.

How successful were 9GAG's NFT launches?

9GAG's NFT launches were quite successful, with one collection, Potatoz, becoming one of the highest-priced free mint NFTs after CryptoPunks. This success demonstrated 9GAG's ability to leverage its existing community and understanding of meme culture in the NFT space. The positive reception of these NFT collections likely contributed to the company's decision to further expand into the crypto space with the launch of the $MEME token.