Report: Meme Prediction Market App Giggles Raises $1.2M as Crypto Social Apps Compete for Gen Z
Key Takeaways:
1kx called Giggles “a compelling new design space at the intersection of social behavior, market design, and crypto-native coordination” in its announcement congratulating Jin, Wang, and their eight-person team.
The app is currently invite-only with approximately 450,000 users on the waitlist. Team members range in age from 19 to 38, with Jin as the youngest. The company plans to convert aura points into real cryptocurrency as the product scales.
Techcrunch’s reporting says that Jin has framed Giggles as high-risk but not extractive. He has compared it to gambling in the sense that users bet on outcomes, but argued it differs from lotteries because the underlying content carries entertainment and informational value.
The app targets a Gen Z and Gen Alpha audience drawn to nihilistic, absurd short-form content often described as “brainrot.” Jin’s stated goal is to build the first crypto-native app where users spend more than 30 minutes per day, while using market mechanics to filter out bots, artificial intelligence (AI)-generated content, and low-quality posts.
Giggles enters a crowded field. Prediction markets such as Kalshi have drawn fresh attention following high-profile political betting cycles, and meme coins continue to attract speculative retail interest. Giggles attempts to merge both categories inside a social media wrapper. 1kx framed its investment as a bet on a new model where users can buy into content early and share in its upside as it spreads across the internet.
Jin’s fundraising announcement also included a Rickroll in the launch video.
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