Creator of the Nyan Cat Laments Meme Coins as the Lawless Frontier, Alleges Over $700K in Fees Yet Denies Any Endorsement
In the ever-evolving world of cryptocurrency, Chris Torres, the man behind the iconic Nyan Cat meme, has found a unique way to benefit from the digital asset boom. Torres, who has been involved in the crypto sphere for almost five years, has received over $700,000 in royalties from the launch of tokens on the Bags platform.
The Bags platform, which allows anyone to launch a token, has assigned royalties to Torres for his creation, the $NYAN token. This innovative mechanism links Torres' revenue directly to himself as the revenue address, ensuring that he continues to receive a share of the trading fees or income generated by his associated meme coin on Bags. This creates a stream of passive income for Torres from these tokens.
However, Torres has been cautious about endorsing any of these crypto tokens. He views meme coins as the "wild west" and believes that the traders' thirst for profits diminishes art. This sentiment is reflected in his refusal to endorse a token, despite the significant income he has earned.
Meanwhile, the Nyan Cat meme, an 8-bit animation of a cat with a Pop-Tart body flying through space, leaving a rainbow trail behind it, has made a significant impact in the crypto world. A Nyan Cat token on the Bags platform reached a $12 million market cap, while another meme, the Troll token, touched a $200 million market cap on Wednesday.
Interestingly, despite the Troll token being created on Pump.fun, which doesn't allow for royalties to be shared with artists, several Bags tokens have been launched in honour of Ramirez, the creator of the Trollface meme. Ramirez himself sold his meme as an NFT for 42 ETH.
Torres has also been actively involved in the NFT market, helping meme creators like Keyboard Cat, Bad Luck Brian, Scumbag Steve, and Trollface sell their NFTs. He even collaborated on a 2023 Reddit Nyan Cat collection, causing the social media site to temporarily go offline due to the number of people attempting to buy the NFTs.
Despite his success in the crypto world, Torres remains focused on his 15-year art career and has redeemed nearly 4,000 SOL (worth $706,000) from the Bags platform. Torres finds crypto life-changing and has mingled with several classic meme creators, riding the wave of being an artist in the digital age.
[1] The Bags platform allows anyone to launch a token and assign royalties to a user. [2] The Bags platform employs a business model where meme coin creators benefit financially from transactions involving their tokens. [3] Torres has been involved in crypto for almost five years and finds it life-changing. [4] Torres has received over $700,000 in royalties from the Bags token launchpad. [5] Torres views meme coins as the "wild west" and is cautious about endorsing any tokens. [6] Torres has been riding the wave of being an artist and has mingled with several classic meme creators. [7] Torres refused to endorse a token, claiming that crypto "diminishes" art due to traders' thirst for profits. [8] Torres stated that coins are harder for a new artist to get into compared to NFTs. [9] Nyan Cat is an 8-bit animation of a cat with a Pop-Tart body flying through space, leaving a rainbow trail behind it. [10] Chris Torres, the creator of Nyan Cat, has earned royalties from meme coins launched on the Bags platform. [11] The Troll token touched a $200 million market cap on Wednesday. [12] Torres believes that NFTs are a more natural fit for art compared to meme coins. [13] A Nyan Cat token on the Bags platform reached a $12 million market cap. [14] Nyan Cat meme was based on Torres' own Russian Blue cat named Marty. [15] Despite the Troll token being created on Pump.fun, which doesn't allow for royalties to be shared with artists, several Bags tokens have been launched in honor of Ramirez. [16] Torres has issued NFT collections in the past but prefers to focus on his 15-year art career. [17] The Trollface creator, Carlos Ramirez, sold his meme as an NFT for 42 ETH. [18] Chris Torres helped various meme creators sell their NFTs, including Keyboard Cat, Bad Luck Brian, Scumbag Steve, and Trollface. [19] Torres has redeemed nearly 4,000 SOL (worth $706,000) from the Bags platform.
[1] The Bags platform empowers users to create and sell their own tokens, offering an opportunity to assign royalties for creators.[2] By launching tokens on the Bags platform, creators like Chris Torres can potentially benefit from trading fees and transaction-based income.[3] Chris Torres, the inventor of the Nyan Cat meme, has been actively engaged in the cryptocurrency world for almost five years, finding the innovation life-changing.[4] So far, Chris Torres has earned over $700,000 in royalties from his meme-based tokens released on the Bags platform.[5] Despite his success, Chris Torres is wary of cryptocurrency and refrains from endorsing tokens due to concerns that meme coins can obscure the artistic aspect of creations.[6] Chris Torres collaborated with fellow meme creators to sell their NFTs, such as Keyboard Cat, Bad Luck Brian, Scumbag Steve, and Trollface.[7] Interestingly, the Troll token, which was created on a different platform than Bags, has still inspired several tokens on the Bags platform in honor of its creator, Carlos Ramirez.[8] Carlos Ramirez, the Trollface meme originator, sold his NFT representation for 42 ETH.[9] The Nyan Cat meme, featuring a cat flying through space with a Pop-Tart body and swirling rainbow trail, continues to make waves in the crypto world.[10] Chris Torres himself has cashed out nearly 4,000 SOL (worth around $706,000) from his crypto endeavors on the Bags platform.[11] Despite the early involvement in both NFTs and meme coins, Chris Torres remains devoted to his 15-year art career, leveraging crypto technology and the entertainment industry as tools for innovation.[12] Chris Torres perceives NFTs as a more natural fit for the art community compared to meme coins due to their autonomous ownership structure and ability to support intellectual property rights.[13] A Nyan Cat token on the Bags platform had a market cap of $12 million.[14] The inspiration for the Nyan Cat meme came directly from Chris Torres' own pet Russian Blue cat named Marty.[15] Despite the Troll token being initially launched on a platform that doesn't support royalties for artists, several Bags tokens were created in tribute to the Trollface meme's originator, Carlos Ramirez.[16] Seeing the potential of NFTs, Chris Torres has also ventured into creating and selling NFT collections but chooses to primarily focus on his art career.[17] The Troll token reached a staggering market cap of $200 million on Wednesday.[18] In addition to his role as a cryptocurrency trendsetter, Chris Torres is also known for his involvement in leading the digital age as an artist, connecting with other iconic meme creators during his journey.[19] Chris Torres cautions that the volatile nature of meme coins can hinder the potential growth for new artists in the crypto space.
