2024-03-30 06:03:12
Posted on: March 30, 2024
- Vitalik Buterin was concerned regarding the current craze for “worthless” memes.
- However, he believes that charities and chain games can benefit from this trend.
Once once more, Vitalik Buterin’s love-hate relationship with memecoins became evident in a recent proposal.
The founder of Etereum [ETH] has always opposed memecoins. Expressing his doubts regarding the booming sector in the current bullish cycle, he highlighted;
“This time, they are heating up once more, but in a way that makes many people uncomfortable because there is nothing particularly new and interesting regarding memecoins.”
Buterin highlighted the crazy meme scene in solana [SOL]adding that;
“Apparently a bunch of Solana memecoins have recently been openly super racist. And even non-racist memecoins often seem to go up and down in price and add nothing of value in their wake.”
The founder emphasized that he has “no enthusiasm for coins that bear names of totalitarian political movements, scams, rug pulls…”.
But Buterin also believes that memecoins can be used for great purposes that generate value for each user.
Memecoins for charity and chain games
He highlighted that projects can generate fun and value at the same time. He proposed that memecoins can be useful in charity or chain games.
Buterin has donated millions of memecoins to charities and non-profit organizations in the past. For example, he was recently surprised following his gift of Shiba Inu [SHIB] to an AI regulation advocacy group pushed and exceeded their expectations.
Beyond charity, Buterin proposed using memecoins in chain games, especially to uplift low-income users, citing Axie Infinity. [AXS] case in Southeast Asia.
He summarized the proposal by highlighting that,
“At least more good memecoins than bad, ideally those that support public goods rather than simply enriching insiders and creators. But also, ideally, create games instead of coins and projects that people enjoy participating in.”
On the contrary, the founder of Solana sees mememania as a network stress test for future growth.
However, other chains such as avalanche [AVAX] y arbitration [ARB] chose to explore memecoins to attract growth and use in their ecosystems. So it looks like memes are here to stay, whether for fun, user growth, or chain growth.
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