SNEK: Bridging the Gap Between Web 3.0 and the Real World on Cardano.

Introduction

In the ever-evolving landscape of cryptocurrencies, SNEK, a memecoin on the Cardano blockchain, is making waves not just for its whimsical nature, but for its innovative approach to bridging the digital with the real world.

A Meme and a Memecoin

Snek is the first successful memecoin to have its culture and lore originating from the web3 ecosystem. Snek is embracing its memecoin nature. Badly advertised, memecoins are the perfect bridge between web2 and web3 and help to drive adoption. Memecoins are accessible, easy to understand, and generate attention better than any other coin.

The Community Spirit and Vision of SNEK

At the heart of SNEK's success is its vibrant community, united by a shared vision of demonstrating the potential of meme coins beyond mere digital assets. SNEK's community-driven approach is noticeable, embodying the spirit of collaboration and innovation that is synonymous with the Cardano ecosystem.

SNEK's Steps into the Energy Drink Industry

In a groundbreaking move, SNEK has ventured into the beverage market, launching its line of energy drinks. This initiative is a prime example of how a digital asset can transcend the virtual space and create a physical product that resonates with consumers. The energy drink serves as a perfect marketing medium to touch the Web2 space. Already sponsoring 2 events (NFTxLV in October and The Cardano Summit event in Texas in November). Snek Energy will sponsor more events in the future. Crypto is intangible, with a physical object in your hand, it creates the perfect introduction and it is an easy use case to understand. The SNEK-branded drinks not only serve as a novel marketing tool but also as a testament to the project's commitment to practical utility.

Sales Milestone: As of now, SNEK has successfully sold over 60,000 cans of its energy drink, a significant achievement that underscores the project's ability to create real-world value. On their Pre-sale, they´ve sold over 5.5k cases within 72 hours, an outstanding achievement for a community-driven project. Currently selling their energy drinks in most of the US states and are planning on expanding to more countries soon.

Bridging Blockchain and the Real World

SNEK's venture into selling drinks is more than a commercial endeavor; it represents a crucial step in narrowing the gap between blockchain technology and everyday life. By translating a digital token's brand into a tangible product, SNEK is pioneering a path for other blockchain projects, showcasing the potential for cryptocurrencies to have a direct impact on the consumer market.

SNEK´s current activities and Income streams

Besides its Energy drink branch, Snek is quite an active and passionate community. One thing that stood out to me is their recent world record Snek, the longest collaborative art piece ever created in web3, you can check it out here. This is living proof of Snek´s powerful community.

Between other activities, the Snek team hosts weekly raffles with ADA rewards for the winner, Poker nights, burn parties, and lots of engaging activities for their community.

SNEK's deflationary mechanisms are designed to funnel external revenue into the SNEK ecosystem. 80% of the generated revenue flows into token burning, reducing the total supply over time.

Snek currently has 5 sources of income:

• Snek Bridge: A fee of 1.07% is charged for bridging Snek from and to other Blockchains

• Snek Stake Pool: ADA holders can delegate their ADA for Cardano staking rewards, in exchange Snek gets rewarded by the Cardano protocol.

• LP Trading Fee Rewards: Transactions on the SNEK/ADA pair on DEXs incur a trading fee, benefiting LP providers.

• Snek Lending: Community members can borrow ADA using SNEK as collateral, and Snek get interest for doing it.

• Weekly ADA Raffle System. Tickets cost 20 ADA each, with 18.5% going to the SNEK fees wallet.

To this day, 1,025,247,098 SNEK was burned, valued at 266,400 USD

Steps into the Gaming Industry

A SNEK Game will be released soon and will be another source of income for SNEK. The game was built in collaboration with Paima, VacuumLabs, and Anvil. It is a play-to-earn game inspired by the famous Nokia Snake game, featuring prize pools and leaderboards that reward the top 3 players with the highest daily scores.

Conclusion

SNEK is redefining the narrative around meme coins. By successfully launching a physical product and embedding itself in the consumer market, SNEK is not only enhancing its brand visibility but also paving the way for other digital assets to follow suit. As we move forward, Snek will undoubtedly be interesting to follow.