What is TMC NFT? The Meme Club NFT Explained for Beginners

The Meme Club (TMC) NFT by MemeChat

The Meme Club, commonly known as TMC, is an NFT marketplace created by MemeChat Pvt. Ltd., an Indian social media app where users make memes and earn money from them. TMC was launched on January 22, 2022, as India’s first exclusive NFT marketplace for memes. It operates on the Polygon blockchain and allows meme creators, collectors, and investors to buy, sell, and trade viral memes as NFTs. When you purchase a TMC NFT from The Meme Club, you also become a member of an exclusive community that offers real-life perks such as merchandise, events, airdrops, and community contests. This is the project that has gained the most attention in India and has a large user base backed by MemeChat’s 5 million-plus downloads.

TheMachineCrafter (TMC) NFT on OpenSea

TheMachineCrafter is a separate NFT project that also uses the abbreviation TMC. This project was listed on OpenSea in early 2022 and features a collection of 1,000 fun robot-themed NFT artworks. The project focuses on digital art collectibles with robotic characters and has its own small community on Instagram and Twitter. Unlike The Meme Club, TheMachineCrafter is not tied to any meme platform or Indian startup. It is a standalone digital art collection on OpenSea. While some users have appreciated the artwork and design, TheMachineCrafter has a much smaller following and trading activity compared to The Meme Club by MemeChat.

Which TMC NFT Are We Talking About in This Blog?

Now that you understand the difference between the two projects, let us be clear: the rest of this blog is entirely focused on The Meme Club (TMC) NFT by MemeChat. We will cover its full form, the story behind MemeChat, how TMC works on the Polygon blockchain, holder perks, how to buy a TMC NFT, pricing details, risks, and whether it is worth your time and money. Everything from this point forward is about The Meme Club and nothing related to TheMachineCrafter.

What is the Full Form of TMC in TMC NFT?

The full form of TMC is The Meme Club. This name was chosen deliberately to reflect the exclusive, community-driven nature of the platform. When someone purchases a TMC NFT, they are not just buying a digital image. They are gaining entry into a members-only club that comes with its own set of perks, privileges, and community involvement opportunities.

TMC was introduced as MemeChat’s official entry into the Web3 space. The idea was straightforward: take the millions of memes being created daily on MemeChat and give creators a way to register, verify, and sell their best work as NFTs. The development of TMC was a strategic move by MemeChat to expand beyond a simple meme-sharing app and enter the growing NFT economy. By choosing the name “The Meme Club,” the team positioned it as something more than a marketplace; it became a community where meme culture, blockchain, and digital ownership intersect.

Who Created TMC NFT? The Story Behind MemeChat

The Meme Club was created by MemeChat Pvt. Ltd., a social media startup founded in 2019 by Kyle Fernandes and Taaran Chanana. MemeChat started as a mobile app where users could create memes, share them, and earn money for their viral content. The app quickly gained popularity, accumulating over 5 million downloads on the Google Play Store and building an active community of meme creators across India.^[1]

The company’s journey received a significant boost when it was selected under the Aatma Nirbhar App Innovation Challenge and became the only Indian startup to receive funding of $150,000 from 500 Startups, a well-known global venture capital firm, in 2020. MemeChat was recognized as the best app in the entertainment category and also won the People’s Choice Award during that period. The company continued to gain momentum as it partnered with major OTT platforms such as Hotstar, Amazon Prime, and ALT Balaji for branded meme campaigns.^[2]

In early 2022, MemeChat secured over USD 1 million in its second round of funding, led by Beenext, a Singapore-based venture capital firm. With this backing, MemeChat launched The Meme Club on January 22, 2022, as India’s first exclusive NFT marketplace for memes. The development of TMC was led by the vision of giving meme creators real financial rewards for their work using blockchain technology.

How Does TMC NFT Work?

The functioning of TMC NFT follows a straightforward process built on the Polygon blockchain. The development of this process was rooted in simplicity, so that meme creators who use the MemeChat app can submit their original, viral memes for minting as NFTs. Once a meme’s ownership is verified through the platform, it can be registered as a non-fungible token and listed on The Meme Club marketplace.

There are two main ways to acquire a TMC NFT on the platform. The first is through direct purchase, where the NFT has a fixed price set by the creator or the current owner. The second method is through auctions, where bidders compete to acquire the NFT, and the highest bidder wins after the countdown expires. The auction duration is decided by the creator and can be set to 24 hours, two days, or five days. This dual-purchase system was designed to offer flexibility to both buyers and sellers in the meme NFT marketplace.

All transactions on TMC happen through the Polygon blockchain using the MATIC token. This means every purchase, sale, or transfer is recorded on the blockchain, providing a transparent and immutable record. The Polygon network was chosen specifically because it offers significantly lower gas fees compared to Ethereum, making the platform more accessible for new users who might otherwise be discouraged by high transaction costs.

Why Does TMC NFT Use the Polygon Blockchain?

One of the defining features of TMC NFT is its choice of blockchain. The entire TMC NFT collection runs on the Polygon blockchain, which is a Layer-2 scaling solution built alongside the Ethereum network. The development of Polygon was focused on addressing some of the major issues with Ethereum, particularly high gas fees and slow transaction speeds.

For TMC NFT users, this choice translates into several practical benefits. Transaction fees on Polygon are extremely low compared to the Ethereum mainnet, often costing just a fraction of a cent. This makes buying, selling, and minting meme NFTs affordable for everyone, including first-time users who are new to the blockchain space. The Polygon NFT ecosystem has grown rapidly, with major platforms like OpenSea and Rarible supporting Polygon-based NFTs.

Polygon also provides fast transaction finality, meaning that when you buy or sell a TMC NFT, the transaction is confirmed in seconds rather than minutes. This speed is important in an auction setting where timing matters. Additionally, Polygon is compatible with Ethereum-based tools and wallets like MetaMask, so users do not need to learn a completely new set of tools to interact with the platform.

TMC NFT Holder Perks and Benefits

What sets TMC NFT apart from many other NFT projects is the emphasis on real-life utility perks for its holders. When you purchase a TMC NFT, you are not simply acquiring a digital image. You are becoming a member of an exclusive club that grants you access to a growing list of benefits. These perks were a key part of the value proposition that MemeChat built around The Meme Club.

Here are the main perks that TMC NFT holders can expect:

Meme Box: Holders receive a physical metal card that has their meme NFT imprinted on it. This is shipped directly to the holder’s address and serves as a tangible representation of their digital asset.

Bunker Party: TMC organizes exclusive events and parties for its NFT holders. These gatherings bring together community members in a social setting.

Meet and Greet Opportunities: Holders get to participate in panel discussions, events, and concerts where they can influence what goes viral on the internet. This gives community members a direct say in shaping meme trends.

Merchandise and Freebies: NFT holders receive free TMC merchandise, including hoodies, t-shirts, and other branded accessories, delivered to their doorstep.

Community Contests: TMC runs exclusive contests within the community with rewards that have gone up to 6900 MATIC in value.

NFT Airdrops: Holders may also receive free NFT airdrops and MATIC tokens as part of ongoing community rewards programs. These airdrop programs encourage long-term holding and active participation within the TMC ecosystem.

How to Buy TMC NFT: Step-by-Step Process

If you are interested in purchasing a TMC NFT, the process involves a few specific steps. Since the platform operates on the Polygon blockchain, you will need to set up certain tools before you can make your first purchase. Here is how you can buy a TMC NFT:

Step 1: Create a MemeChat Account. You need a registered account on the MemeChat app to access The Meme Club marketplace. If you do not have one already, you can download the app from the Google Play Store and sign up.

Step 2: Set Up a MetaMask Wallet. MetaMask is the crypto wallet used to interact with the TMC NFT marketplace. Install the MetaMask browser extension on Chrome or download the MetaMask mobile app. Create your wallet and securely save your seed phrase.

Step 3: Add the Polygon Network to MetaMask. By default, MetaMask connects to the Ethereum network. You need to add the Polygon network manually. You can do this through Chainlist by searching for “Polygon” and clicking “Add to MetaMask,” or you can enter the network details manually in your MetaMask settings.

Step 4: Get MATIC Tokens. MATIC is the native token of the Polygon blockchain, and you will need it to buy TMC NFTs and pay for gas fees. You can purchase MATIC from exchanges like Binance, WazirX, or CoinDCX, and then transfer it to your MetaMask wallet. Make sure you select the Polygon network when withdrawing, not the Ethereum network. This process ensures that even users new to crypto can follow along if they take it step by step.

Step 5: Connect Your Wallet and Browse. Link your MetaMask wallet to The Meme Club website. Once connected, you can browse through the available TMC NFTs, view their details, and either buy at the listed price or place a bid on auction items.

Step 6: Complete the Purchase. Once you find a TMC NFT you want, confirm the transaction through your MetaMask wallet. The NFT will then appear in your wallet and profile after the transaction is processed on the Polygon blockchain.

TMC NFT Pricing and Floor Price

The pricing of TMC NFTs varies depending on the rarity and popularity of the meme. For direct purchases, the price typically starts at around 25 MATIC and can go up to 50 MATIC or more. For NFTs that are listed for auction, there is no upper limit, as bidders can go as high as they wish. This flexible pricing model allows creators to set competitive rates while also giving collectors the chance to acquire valuable memes through bidding.

During the very first TMC NFT sale on January 22, 2022, the results were impressive. Within just 90 minutes, 90 meme creators from different parts of the country bought and sold their meme NFTs on the platform. The total Gross Merchandise Value (GMV) crossed 5500 MATIC in that single event. The highest-priced TMC NFT was sold for 250 MATIC, which was approximately 30,000 INR at that time.^[3]

Some NFT holders have also reported receiving physical goodies worth additional value, including branded hoodies, cakes, and the signature metal card, all included as part of the TMC NFT holder perks. This adds a layer of tangible value on top of the digital asset itself.

Risks Involved in Buying TMC NFT

While TMC NFT offers several unique benefits, it is important to understand the risks involved before making a purchase. Like any other NFT or crypto-based asset, TMC NFTs come with certain uncertainties that potential buyers should consider carefully.

The NFT market, in general, is highly volatile. The value of any NFT, including TMC meme NFTs, can fluctuate based on demand, market sentiment, and broader crypto market conditions. A meme NFT that is worth 50 MATIC today may not hold the same value a month from now. No NFT project guarantees that its value will keep increasing over time.

Technical complexity is another factor. For someone who is new to blockchain, wallets, and cryptocurrency, the process of setting up MetaMask, buying MATIC, and completing transactions on the Polygon network can feel overwhelming. Additionally, gas wars during popular NFT drops can lead to situations where users pay transaction fees without actually acquiring the NFT they wanted. The use of automated bots by some buyers during high-demand drops also creates an uneven playing field for regular users.

There is also the matter of long-term sustainability. While TMC had a strong start with its initial sales and community building, the meme NFT space is competitive and constantly evolving. The development of new features, consistent community engagement, and sustained interest from both creators and buyers will determine whether TMC NFTs retain their value and relevance in the long run.

How MemeChat Generates Revenue Through TMC

MemeChat’s revenue model through TMC extends beyond simple marketplace transaction fees. The platform has positioned itself to attract businesses and brands that want to leverage popular memes for marketing purposes. In today’s digital landscape, memes have become one of the most effective tools for grabbing attention, especially among younger audiences. The development of this business model allows companies to purchase viral meme NFTs from TMC and use them as part of their advertising strategies.

Additionally, MemeChat earns through the minting process and transaction fees within the marketplace. Community-driven events, merchandise sales, and branded collaborations further add to the revenue model. Kyle Fernandes, the CEO of MemeChat, has stated that the community holds the power to decide viral trends, and MemeChat supports those trends with strategies to maximize their reach. This dual approach of community empowerment and brand partnerships forms the backbone of how TMC operates financially.

Is TMC NFT Worth It?

Whether TMC NFT is worth your investment depends largely on what you are looking for. If you are a meme creator who wants a verified way to own and monetize your content, TMC provides a practical solution. The holder perks, including merchandise, event access, and community rewards, add real-world value that goes beyond just the digital asset. These tangible benefits make TMC more appealing compared to many NFT projects that offer nothing beyond speculative trading.

For collectors and investors, the value proposition is more nuanced. The rarity and virality of specific memes, the overall health of the NFT market, and the continued growth of the MemeChat community all play a role in determining whether a TMC NFT holds or gains value over time. The floor price and the relatively low cost of entry compared to Ethereum-based NFTs make it accessible for newcomers who want to explore the NFT space without committing a large amount of capital.

That said, like any investment, it is important to do your own research and understand the risks. The development of the NFT market is still in its early stages, and no one can predict with certainty how any particular project will perform over the long term. Buy what you genuinely appreciate or believe in, and invest only what you can afford to lose.

Conclusion