Tuesday , June 25 2024
Home / Bitcoin (BTC) / Ethereum Founder Thinks Meme Coins Can Be More Than Fun, Simple Tokens

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

Summary:
Vitalik Buterin, the co-founder of the Ethereum network, believes meme coins can become higher quality projects that contribute positively to the crypto ecosystem and the world around them, squashing the narrative that such tokens are useless, racist, and sexist. According to a new report titled “What Else Could Meme Coins Be?,” Buterin looks forward to seeing meme coin projects that support public goods instead of enriching insiders and creators. He urged creators to make games instead of just tokens. Meme Coins Can Be More The Ethereum founder cited a report he wrote ten years ago and published on Bitcoin Magazine, which addressed the role cryptocurrencies could play in funding important public projects like cancer research and saving the environment. He explained at the

Topics:
Mandy Williams considers the following as important: , ,

This could be interesting, too:

Wayne Jones writes Japanese Publicly-Listed Firm to Increase Bitcoin Holdings via Bond Issuance

Wayne Jones writes Football Icon Ronaldinho Eyes Crypto Comeback Despite Past Controversies

Chayanika Deka writes Bitcoin Bears the Brunt of Growing Pessimism With 0M Outflows

Jordan Lyanchev writes Bitcoin (BTC) Price Breaks Below K for the First Time Since May 3

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

According to a new report titled “What Else Could Meme Coins Be?,” Buterin looks forward to seeing meme coin projects that support public goods instead of enriching insiders and creators. He urged creators to make games instead of just tokens.

Meme Coins Can Be More

The Ethereum founder cited a report he wrote ten years ago and published on Bitcoin Magazine, which addressed the role cryptocurrencies could play in funding important public projects like cancer research and saving the environment. He explained at the time that society needed new ways to fund valuable large-scale projects other than markets and institutions, and issuing new coins could fill in the gaps.

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

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

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

“Don’t just make a coin, make a game. But make an actually meaningful and fun game. Don’t think Candy Crush on the blockchain; think World of Warcraft on the blockchain,” the Ethereum founder stated.

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 to have fun, then developers should stop making simple copy-and-paste coins. He urged owners of these projects to make the games more complicated and interesting.

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

You Might Also Like:

Leave a Reply

Your email address will not be published. Required fields are marked *