Color Protocol has launched a conversion platform for Memecoin, allowing meme artists and communities to create their Meme NFT collections in ERC-404. This platform also enables holders to convert their Memecoin into NFT.

Memecoin is known for its explosive growth in the crypto market and unique community culture. Meme artists have created amazing works around memecoins, but these works have not been able to share in the value of memecoins. There are differences in consensus among memecoin communities, and the distinction between memecoins and other tokens is not clear.

Through the conversion platform, Color Protocol aims to create a new way for Meme-based art asset issuance. This allows anyone to convert Memecoin from the ERC-20 standard to ERC-404, combining properties of both tokens and NFTs.

With Color Protocol, artists' Meme works can now benefit from the value increase of Memecoin and become more liquid assets. Meme communities can increase playability and enhance community consensus, while holders can own assets with unique Meme culture and liquidity.

Walter, co-founder of Color Protocol, explains, "The market cap of Memecoin has grown significantly this year. The value of consensus in Meme Creation has not been fully realized. Color Protocol aims to bring together artists, communities, and holders through ERC-404 to derive value from Memes."

Color Protocol is an international team of experienced developers in the Ethereum ecosystem. They are planning to release the Flux-404 NFT deflationary contract standard, ERC404 launch tool, and cross-chain functionality in the near future. Color Protocol is dedicated to using the ERC-404 protocol to make memecoins more colorful, playable, and valuable for Meme artists, communities, and users worldwide.