Ethereum co-founder Vitalik Buterin admitted to a lack of enthusiasm for celebrity-related meme coins. He called for focusing on projects with a focus on public goods rather than enriching insiders.
A quick summary of features that a celebrity crypto project needs to have for me to be more willing to respect it:
1. Have some kind of public-good goal that it's serving, other than enriching the celebrity and early adopters. Realistically, either an art project or the…
Buterin reacted to the words of Placeholder partner Chris Berniske, who called the "mother of experiments with celebrities in this cycle" the potential success of the meme coin Mother Iggy (MOTHER).
The latter is associated with Australian rapper and model Iggy Azalea. According to the expert, these compliments will be appropriate if the asset breaks through to create sustainable value.
"So far, I'm not happy with the "experiments with celebrities in this cycle." I accept financialization "as a means to an end" if the goal is worthy (healthcare, open source software, art, etc.). Financialization "as an end product"," Buterin reacted, concluding the remark with a vomit emoji.
As a "more honorable" celebrity participation, he cited the NFT collection and the animated series Stoner Cats from Ashton Kutcher and Mila Kunis in 2021.
"At least the real show was funded here," he pointed out.
In September 2023, the SEC accused the company behind Stoner Cats of conducting an unregistered $8 million NFT offering. The latter agreed to pay $1 million and destroy all tokens in its possession to settle the claims.
The co-founder of Ethereum named the key features of crypto projects from the stars that they must have in order to win his respect.
To have some kind of socially useful purpose. In reality, it can be either an art project, or a celebrity's favorite charity, or both.Have fun mechanics that go beyond just exchanging tokens. According to Buterin, he doesn't like voting in the DAO, but at least they give people something to do and organize around. DAO should not completely determine the agenda, but they can have some influence, the expert explained.To experience a steady interest that will last at least ten years, will not "drill" for several months, and then will be forgotten."The North Star should be like this: create a project in which, even if all tokens are reset, a typical project participant will be happy that he went for it," Buterin issued a recipe.
The ease of creating meme tokens on Solana and further growth due to the large audience attracted many celebrities. Another category that has gained popularity is "political" meme tokens. Among the most famous are Jeo Boden (BODEN) and Doland Tremp (TREMP).
Recall that in May, 455,000 new coins appeared on the Solana blockchain. The indicator reached a monthly high due to low barriers to entry and the hype around meme tokens. The popularity of the platform for their launch, pump.fun, played a significant role in this.
https://forklog.com/cryptorium/pochemu-mem-tokeny-stali-tak-populyarny-v-2024-godu