In a blog post published recently, Vitalik Buterin, co-founder of Ethereum and criticiser of meme coins associated with dictatorships argued for higher-quality projects.
It is clear that meme coins, which are still relatively new in the crypto world, have limited novelty value and little added value other than speculative trading. Ethereum Co-founder Vitalik buterin suggested in a recently published article blog post.
Co-founder of Ethereum. The network that boasts hundreds if not dozens of meme currencies like Shiba Inu.SHIBPepePEPE“A bunch of” criticised the rise of assets that target social groups based on their nationality. Solana Memcoins have recently been openly super-racist.” “He also highlighted that he is particularly concerned about the number of coins bearing names associated with totalitarian governments.
“I have zero enthusiasm for coins named after totalitarian political movements, scams, rugpulls or anything that feels exciting in month N but leaves everyone upset in month N+1.” Vitalik Buterin
Buterin highlighted the potential of creating “positive-sum” There are other options within the meme space. For example, charity coins which allocate part of their tokens to charities. He also stressed the importance of developing projects that not only are financially rewarding, but also “contribute positively to the ecosystem and the world around them.”
The Ethereum co-founder has acknowledged the importance of blockchain technology “people’s desire to have fun,” He called on higher-quality projects to be developed in the cryptospace that would avoid “enriching insiders and creators.”
According to CoinGecko, the value of memes is currently $69.1 billion. This surpasses sectors such as gamefi (33.6 billion), and tokens focusing on artificial intelligence (41.3 billion). According to CoinMarketCap, the overhyped token sector consists of tokens that are primarily made for entertainment. This segment represents a staggering 2.53% of total cryptomarket, which is more than non-fungible coins (2.37%) or real assets (2.13%).
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Source: crypto.news
