Sacramento Zoological Society, Elk Grove Mayor launch ‘Possum Pennies’ meme coin to fund new zoo and sanctuary
A meme coin is a type of cryptocurrency that gains popularity and value largely through social media buzz, community engagement, and viral internet culture rather
This morning, Elk Grove Mayor Bobbie Singh-Alen and the Sacramento Zoological Society announced the launch of a new meme coin called “Possum Pennies” with the nickname "PP."
A meme coin is a type of cryptocurrency that gains popularity and value largely through social media buzz, community engagement, and viral internet culture rather than intrinsic technical innovation or utility. The most popular meme coin is the DOGE coin, which DOGE czar Elon Musk hyped.
Singh-Alen expressed excitement about today's announcement about the meme coin on behalf of herself and the four city councilmen under her command.
“For too long, we’ve relied on bake sales and fundraisers at Wendy’s to support the Sacramento Zoological Society in their effort to raise $50 million, and likely much more,” she said. “With the launch of Possum Pennies, we’re stepping into the future of fundraising. My omnipresence on social media will assure all my loving subjects will invest in the coin, exceeding expectations and raising a beautiful sum of money."
The digital currency initiative is set to raise at least $250 million to fund the first phase of the multi-phase $1 billion Elk Grove-Sacramento Zoo. Part of the proceeds will be used to create a world-class possum sanctuary, Penny’s Possum Pavilion.
She added, "This innovative meme coin not only promises to inject fresh capital into our community projects but also alleviates concerns about our previous limited methods of raising funds.”
The PP meme coin will also solve another problem for the city's economic development director, Darrell Doane. Last year, Doane spearheaded the city's effort to give $500,000 of taxpayer money to launch the Slow and Low restaurant in Old Towne-Downtown Elk Grove, which spectacularly failed after only six months, putting taxpayers at risk.
The former restaurant space will be repurposed as the hub for the crypto farm that will power the servers for oPossum Pennies. City officials and Singh-Alen predict the transformation will turn Olde-Town-Downtown Elk Grove into a tourist attraction on par with San Diego's famed Gaslamp Quarter and will attract significant investments, including from Mayor Singh-Alen’s Russian-based business partners, 4 P's, Путинское государственное частное партнерство.
Robert Churcill, the interim director of the Sacramento Zoological Society, highlighted the dual benefits of the project.
“Possum Pennies represents a paradigm shift in how we approach fundraising for conservation and educational projects,” Churcill noted. “Not only will the funds help us build the Elk Grove-Sacramento Zoo and Penny’s Possum Pavilion, but the venture itself is a testament to innovation in public-private partnerships. It’s a statement that creativity and modern technology can overcome financial constraints that once limited our vision.”
As part of the meme coin launch, regional billboard space has been purchased to promote the new Elk Grove Sacramento Zoo and the meme coin. Images of those billboards can be viewed below.
With this cutting-edge approach to fundraising, experts believe that Possum Pennies' success could set a new standard for municipal and nonprofit financing. While the idea of a meme coin might raise eyebrows, Singh-Alen and the Sacramento Zoological Society are confident that this initiative will galvanize support from local residents and international investors, paving the way for a transformative chapter in Elk Grove’s civic development.
The opening trading price of Possum Pennies is set at 86 cents.
"No doubt about it, this will put the Elk Grove Zoo on the map," Singh-Alen concluded.
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