Coinbase’s Ethereum layer-2 base is attracting criticism from builders and traders who claim that the creator token project failed to convert a social media viral moment into sustained activity onchain.
After YouTuber Nick Shirley released a token through creator platform Zora, the backlash began. Shirley’s token rose briefly in value to $9 million, fully diluted. sliding To $3 Million. Traders who were already trading accounted for the majority of volumes, rather than those new to the market.
Trader and content creator, notthreadguy has shared a critique that is widely circulated. argued Shirley was the only one who could make this model work.
“If there was ever a time that these content coins, these creator coins were going to work, it was Nick Shirley right here, right now, in this moment. And it just didn’t work,” He said that there was no need to exchange content coins. “trenchers on trenchers.”
He made his comments against the backdrop of many other Zora‑linked experiments on Base The demand for goods and services was volatile, with no evidence of sustained growth.
Shirley has recently become a flashpoint in the political arena after unsubstantiated allegations of daycare fraud were made. amplified Elon Musk as well as senior Trump Administration officials. The allegations became part of larger discussions cited Minnesota when the Minnesotan administration announced it was freezing child care fund.
Related: Is Zora turning Ethereum L2 Base into a Solana killer?
Onchain stats and SocialFi statistics
The base is increasing marketed Farcaster, Zora and other successors such as Friend.tech have attracted creators to the platform.
SocialFi reports project. market The market will reach $10 billion in 2033 with an annual compound growth rate of 17.5% between 2025 and 2033. Still, even high‑profile platforms like Friend.tech have seen daily active users Peak near 80,000 then drop below 10,000.
Related: After Zora airdrop goes awry, what’s next for Web3 creator economy?
Base under increasing pressure
Base builders’ discontent is fueled by the difference between headline growth and stickinginess.
Developers and community members have complained that a run of high‑profile creator coins promoted through official channels, including internal “team” Retailers are left vulnerable when the liquidity disappears.
“If you’re not part of the favored narrative, you effectively don’t exist. At that point, what is the incentive to build on Base?” questioned One Base Builder
Coinbase’s CEO Brian Armstrong is now addressing the community in response. posting He had been a “great chat” With notthreadguy “lots of good ideas.”
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
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Source: cointelegraph.com
