Meme criticized by VC, what does Crypto Builder think?

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golem
1 months ago
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Compared with the strong criticism in the past, Crypto Builder has focused on the positive side of Meme coin.

Original | Odaily Planet Daily

Author | Golem

Meme criticized by VC, what does Crypto Builder think?

In 2024, Meme coins have become one of the most important narratives in cryptocurrencies, and are becoming increasingly crazy. In order to gain attention and traffic, there have even been various shocking release methods such as live self-immolation, violence, and vulgarity.

Faced with this situation, a16z published an article in April stating that Meme coins are thriving, while blockchain companies and tokens with more productive utility are facing development obstacles; some VC investors also stated that Meme coins may cause a large number of crypto builders to leave.

Faced with the craziness of retail investors and the stay away from VCs, what is the attitude of the builders of crypto projects? Odaily Planet Daily has sorted out the attitudes of some well-known crypto projects, celebrities and institutions towards Meme this year for readers’ reference.

Ethereum founder Vitalik: Friendly to Meme, looking forward to seeing more positive development

Ethereum founder Vitalik has always been paying attention to Meme. Earlier this year, he not only responded to the situation of community Meme coin holders with Chinese lyrics, which led to a surge in related Meme, but also published an article to express his views on Meme. In the article What else could memecoins be? published on March 39, Vitalik said that users participate in Meme coins because their prices may rise, but Meme coins should pay more attention to charity and public welfare. At the same time, regarding the recent rampant celebrity Meme coins, Vitalik also published an article on June 5, saying that celebrity Meme should have more public welfare features and interesting mechanisms.

Uniswap founder: Meme attention is valuable, and it’s cool to create a market for it

Uniswap founder Hayden Adams also wrote on June 6 that he had no opinion on Meme coins or celebrity coins. He believed that Meme attention was valuable and it was cool to create a market for it. Moreover, the fundamental purpose and value of this technology went far beyond financial games, and the best builders in this field were driven by positive social change.

Su Zhu: VCs will embrace Meme coins and realize that the era of high FDV/low liquidity is over

Su Zhu, co-founder of Three Arrows Capital and OPNX, wrote on May 14 that VCs will go from laughing at meme coins to arrogantly insulting them within two months, and finally realize that the era of high FDV/low liquidity is over. Among the tokens that have performed poorly in the past month, 95% of the tokens will never return to their original prices.

Solana Co-founder: Maintaining Meme Coin, Fearing that Meme Coin Builders Will Have Difficulties in Success

In response to accusations from some crypto investors that Meme Coin is causing a loss of crypto builders, Solana co-founder Raj Gokal posted a message to defend Meme Coin. He said that if a builder is fragile enough to be frightened by the way young people choose to use permissionless systems to have fun, then he will definitely not succeed here.

Avalanche: Launching Memecoin Rush, the significance of Meme is to attract more newcomers to the encryption field

Avalanche founder Emin Gün Sirer said that although Memecoins are not seen as a valuable investment by the outside world, their real significance lies in attracting more young newcomers to the crypto field in an interesting way. In order to stimulate the development of community tokens within the ecosystem, Avalanche launched the liquidity mining incentive program Memecoin Rush in March to help expand liquidity and promote user participation in community coins.

Tron Justin Sun: Meme coin symbolizes the spirit of encryption, Tron will strengthen cooperation with Meme project

Justin Sun, founder of TRON, said at the event that TRON will cooperate with more Meme projects to issue Meme coins on the TRON chain and BitTorrent Chain (BTTC). Justin Sun emphasized that Meme coins symbolize the community spirit and industry value of the development of the cryptocurrency industry itself to some extent.

BitMEX co-founder: If Meme can attract more attention and developers, it will be valuable to the chain itself

“You can think that the Meme token is stupid and worthless, but if it can bring more attention and more developers to the space, then it has positive value for the chain itself,” said Arthur Hayes, co-founder of BitMEX, in an interview.

Messari Research Vice President: Meme coins are an important part of the crypto market and have been attracting people to the chain

Maartje Bus, vice president of research at crypto data aggregator Messari, said in a speech at BUIDL Asia, Cryptocurrency is often criticized for not having use cases for ordinary people, but Meme coins have actually been very successful and have been bringing people to the chain. He also said that Meme coins will continue to be an important part of the cryptocurrency market and have the potential to become a new asset class.

Base: Held the Meme Summit and repeatedly called on Meme coin projects to lead more users into the Base ecosystem

Jesse Pollak, head of the Base protocol and the biggest contributor to the development of Meme in the Base ecosystem, said at the Meme Coin Hackathon held in New York on April 20: We are increasingly convinced that in the next few years, we will see these Meme coins attract millions of people to join Base. They will become one of the biggest driving forces because they are constantly attracting more and more people to join in creative ways.

At the same time, on June 7, a more direct speech was made at the Base Meme Summit held in early June, expressing the hope that more Meme coin projects in the Base ecosystem can set a small goal: lead 10,000 new users to join the Base ecosystem, call on more people to spread information about the Base ecosystem and Meme coins to their friends; conduct face-to-face exchanges and dialogues; create vertical video content; conduct creative experiments and disseminate on a larger scale.

TON Foundation: Launching Memelandia, a meme currency and community token cultural center

The TON Foundation announced the launch of Memelandia, a memecoin and community token cultural center, on April 16, with the core of promoting the fun and joyful spirit of Web3. In Memelandia, selected communities will have friendly but competitive showcases in public leagues, competing for rewards and becoming the top memecoin and community token on TON.

Jupiter: Release Meme Coin WEN, Meme Coin May Become a Gateway to Other Crypto Fields

Jupiter released its related Meme coin WEN as early as January this year. Jupiter co-founder meow has also published articles many times to support the development of Meme. On June 3, he said that to achieve the decentralization of power, all markets must be decentralized first, and DeFi and Meme coins are crucial to achieving decentralization; at the same time, on June 10, he further explained the value of Web3, saying that in the Web3 era, everything is related to user-generated Money, and Memecoin is likely to become a gateway to understanding the rest of the crypto stack, such as infrastructure, DeFi, RWA, etc.

DWF Labs: We believe that Meme coin will become the new GTM strategy for many ecosystems and projects, and we will invest more in Meme coin.

DWF Labs, a well-known Web3 venture capital and market maker, is one of the most active institutions embracing Meme coin. Its investment organization DWF Ventures published a statement on April 3rd, saying that from the perspective of traditional venture capital, Meme coin has always been regarded as a non-basic way of playing, but the market has proven its influence. In the next cycle, it is believed that Meme coin will become a new GTM (go-to-market) strategy for many ecosystems and projects.

In terms of actions, DWF Labs is also proving its active support for Meme. After completing the investment in Meme coins LADYS and FLOKI, DWF Labs co-founder Andrei Grachev also published a statement saying that he will invest more funds in Meme coins and that investments in other projects are under discussion.

Mechanism Capital: Completed Meme coin position building, the total market value of Meme coins will increase in the next ten years

Crypto fund Mechanism Capital completed its Meme coin position earlier this year, with its first positions in 2024 centered around Trump and including Trump-related meme coins and NFTs.

Andrew Kang, co-founder of Mechanism Capital, said in a post: Some people see Meme coins as a zero-sum game, which is incorrect. The market will continue to create higher highs and higher lows in each cycle. In the next decade, the total market value of Meme coins will increase. This is the emergence of a new asset class.

Pantera Capital Partner: Meme Coin is a Trojan Horse for Cryptocurrency

Pantera Capital partner Paul Veradittakit wrote a summary , saying , First, it is clear to me that Memecoin will not disappear and will become a very interesting social activity for the next generation. Second, Memecoin greatly enhances platforms and applications. Although they are an incentive mechanism that helps spread memes, Memecoin can greatly enhance NFT projects, social protocols, and the entire blockchain industry.

At the end of the day, while Memecoin may look like a toy, it is a Trojan Horse for cryptocurrencies. They are the easiest way to get the next generation to experience the latest DeFi applications and introduce them to Web3.

Variant: Hosting a Meme Marathon, Memecoin Has Greater Upside Potential Than Blue-Chip Governance Tokens

Variant co-founder Li Jin held a meme marathon at the headquarters of Variant Fund in New York on April 20, inviting qualified teams to participate. He also publicly stated in an interview that Memecoin has greater growth potential than blue-chip governance tokens.

Summary: Crypto Builder is also experiencing disenchantment

Crypto Builders are experiencing the disenchantment of the industry. In the past, when talking about the mass adoption of blockchain, Crypto Builders were used to talking about various narratives, such as RWA, L2, DePIN, etc., and they also sneered at Meme.

But this year, perhaps because of the strong performance of Meme on the Solana chain, compared to the strong criticism of Meme in the past, many builders of crypto projects have focused their attention on the positive side of Meme coins. That is, they recognize the wealth effect that Meme coins bring to users and the potential to bring more fresh blood to the industry. They are willing to actively build infrastructure or hold events to cater to users needs for Meme speculation, and are not averse to discussing the benefits of Meme in public.

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ODAILY reminds readers to establish correct monetary and investment concepts, rationally view blockchain, and effectively improve risk awareness; We can actively report and report any illegal or criminal clues discovered to relevant departments.

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