Ethereum Founder Believes Meme Coins Can Be More Than Simple, Fun Tokens

Vitalik Buterin, co-founder of the ethereum network, believes that meme coins can become higher quality projects that contribute positively to the crypto ecosystem and the world around them, crushing the narrative that such tokens are useless, racist and sexist.

According to a new eth.limo/general/2024/03/29/memecoins.html” data-wpel-link=”external” target=”_blank”>report Titled “What Else Could Meme Coins Be?”, Buterin hopes to see meme coin projects that support public goods rather than enrich insiders and creators. He urged creators to create games instead of just tokens.

Meme coins can be more

The founder of ethereum cited a report He wrote ten years ago and published in bitcoin magazine, which addressed the role that cryptocurrencies could play in funding important public projects such as cancer research and saving the environment. He explained at the time that society needed new ways to finance valuable, large-scale projects other than markets and institutions, and the issuance of new currencies could fill the gaps.

People who wanted to support cancer research could own and trade AntiCancerCoin, while those passionate about saving the environment could use ClimateCoin. These assets would determine which projects are funded, creating positive and long-lasting tokens that are different from what meme coins have become today.

Buterin explained that people participate in meme coin projects because they feel that they are democratic and open to anyone, they are fun, and the value of the tokens can increase. He suggested that the crypto community could use a large percentage of a meme coin's supply to support worthy public causes, but that could come at the expense of the token's value and democracy.

So the remedy would be to create game projects that are democratic, meaningful, fun, and have a tendency to increase in value.

“Don't just make a coin, make a game. But it creates a really meaningful and fun game. Don't think of Candy Crush on the blockchain; Think World of Warcraft on blockchain,” said the founder of ethereum.

Creating interesting games

Furthermore, the computer programmer insisted that if the goal of creating meme coins and related games is to satisfy people's desire for fun, then developers should stop creating simple copy-and-paste coins. He urged the owners of these projects to make the games more complicated and interesting.

Using blockchain gaming platform Axie Infinity as an example, Buterin praised how well the entity had improved the quality of its projects since its rise in 2021.

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