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Thursday, June 6, 2024
HomeCryptoVitalik Buterin criticizes celebrity memecoins

Vitalik Buterin criticizes celebrity memecoins

Vitalik Buterin, co-founder of Ethereum, expressed dissatisfaction with the issuance of celebrity memecoins. He believes that the goal of the project should be for participants to feel satisfied and happy, even if the tokens become worthless.

In a June 5 post, Buterin argued that financialization only makes sense if it brings value to society, such as improving health care, supporting open source software, and promoting art and culture. creative. This statement is in response to an article about the possibility of Iggy Azalea’s Mother Iggy token (MOTHER) becoming a successful celebrity experiment if it creates sustainable value.

Source: Vitalik Buterin
Source: Vitalik Buterin

Celebrity tokens are digital assets or cryptocurrencies created and endorsed by celebrities. They leverage celebrity popularity to attract interest and investment, often integrating with the broader cryptocurrency ecosystem.

Buterin’s list of “deserving” memecoins

Vitalik Buterin explained that Ashton Kutcher and Mila Kunis’s Stoner Cats project is much more respectable than 2024’s celebrity memecoin projects. He said: “At least Stoner Cats sponsored a real show reality, while memecoins lack content and purpose.”

Buterin gave a list of features that a popular cryptocurrency project needs to have to earn his respect. He emphasized that the project must have a clear public benefit goal, not just enriching celebrities and early investors.

Buterin said he prefers projects with a long lifespan, ideally lasting more than 10 years, instead of projects that are temporarily popular for a few months and then forgotten. He values ​​long-term, sustainable projects over short-term trends.

Read more: Vitalik Buterin Reveals the Features He Regrets When Building Ethereum

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.


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