Believe Launches $1M Builders Fund to Revive Platform Amid Sharp Decline

Believe's New Initiative Aims to Rekindle Developer Engagement

Hold onto your hats, crypto fans! Believe, the Web3 SocialFi platform that's all about launching tokens through social vibes on X, just dropped a bombshell: the $1 million Believe Builders Fund. They're throwing this cash at high-flying builders and communities over the next few months with fellowships, hackathons, and juicy incentives. Buckle up, because things are about to get wild!

Platform Activity Plummets as Token Launches Drop

But wait, there's a twist! Believe's been on a wild rollercoaster ride lately. Back in early May, they were launching over 4,000 tokens a day, but by late June? Barely hitting 100. Talk about a nosedive! This Builders Fund might just be their secret weapon to get the party started again and bring back the mojo.

LAUNCHCOIN's Value Tumbles as Market Cap Shrinks

And get this: LAUNCHCOIN, the token that's hitched its wagon to Believe thanks to founder Ben Pasternak, has taken a brutal hit. It's lost almost half its value in the last month, with the market cap now chilling at $95 million. That's a whopping 70% drop from its May 15 high of $312 million. Ouch!

Hype and NOODLE Token Drive Earlier Surge

Remember that crazy spike from $10 million to over $240 million in just two days back in May? That was all thanks to the buzz around Alex Leiman's NOODLE token for a game on Believe. It was a wild ride, with nearly 5,000 tokens launched on May 13 and 14. But like all good things, it didn't last.

Believe Introduces Rug Protection Features

But don't worry, Believe's not just sitting on its hands. They've also rolled out some slick rug protection features to keep you safe from those pesky rug pulls and scams. We're talking automatic and manual fee blocking on new tokens and a snazzy "BLV" contract address suffix. It's like a security blanket for your crypto!