Vitalik Buterin Advocates For Memecoins’ Potential In Crypto Sector, Favors ‘Good Memecoins’
In Brief
Vitalik Buterin highlighted potential positive impact of memecoins on the cryptocurrency sector in latest article.
Decentralized blockchain Ethereum co-founder Vitalik Buterin published an article in his blog discussing memecoins, highlighting their potential positive impact on the cryptocurrency sector.
According to Vitalik Buterin, memecoins supporting public goods, rather than solely benefiting insiders and creators, would be ideal. As an example, he mentioned charity coins, which allocate a significant portion of the token supply or implement ongoing fee mechanisms to support charitable causes, illustrating the potential for alignment between memecoins and positive societal impact.
Additionally, he mentioned that developing on-chain games can have positive implications and should prevail. Organizations such as 0xPARC which supports application research and development on Ethereum and also stands as a creator of Dark Forest and FrogCrypto games serves as a good example.
Furthermore, referring to one of his personal moral guidelines, Vitalik Buterin emphasized the importance of acknowledging excellence even among groups or individuals one may not favor. He mentioned his lack of enthusiasm for coins named after totalitarian political movements, scams, or schemes that promise short-term excitement but ultimately disappoint in the long run.
Acknowledging the potential for negativity and adverse consequences associated with memecoins, including issues like racism and rugpulls, Vitalik Buterin also highlighted the importance of people’s desire for enjoyment. He expressed a preference for the cryptocurrency sector to align with this inclination, advocating for the development of high-quality, enjoyable projects that contribute positively to the ecosystem and society as a whole.
CryptoQuant CEO Warns of Memecoin Negative Impact Amid Memecoin Frenzy
The Ethereum’s co-founder commentary comes following the sentiments of those, voicing their disapproval of memecoins.
Recently, the founder and CEO of the market data analytics company CryptoQuant, Ki Young Ju shared on X platform his belief that “memecoins have negative effects on the industry,” expressing frustration over billion-dollar-capitalization memecoins diverting attention from teams dedicated to developing legitimate products that contribute to the advancement of the sector.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.About The Author
Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
More articles
Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
