Chris Burniske is a venture capitalist who believes meme tokens can be used to develop fundamentally sound crypto-projects.
Burniske informs his 303.400 social media followers that he believes Other crypto projects are forced to be innovative and unique due to the dominant position of memecoins during this cycle.
Crypto veteran: According to him, “forcing function” Memecoins are a positive development for the industry of digital assets.
“Meanwhile, to those worried about ‘infrastructure-and-appcoins,’ everything is a pendulum…
Memecoins will force ‘infrastructure-and-appcoins’ to show holders and stakers the revenue, aided by a more favorable regulatory environment. Governance tokens are going to be transformed into Cash Flow Tokens.”
Burniske says that investors will value infrastructures and appcoins based on earnings, and similar financial metrics.
“‘Infrastructure-and-appcoins’ that show a floor in the next bear due to fundamentals, will start to compound value over cycles, aided by TradFi which is starting to ‘get it,’ and will work to value crypto assets based on traditional approaches.
‘Infrastructure-and-appcoins,’ alongside BTCThe gains from, while less spectacular than the sugar high of memecoins, are still a great drug to have for financial patience.“
Burniske warned that the crypto industry will have to face its day of reckoning, especially in regards to memecoins.
“Just as memecoins have no ceiling due to no fundamentals, they will also have no floor – this lesson will be painfully learned in the next bear.
A select few such as DOGE may become household names.”
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