Ethereum founder Vitalik Buterin has expressed a “positive sum” vision for meme coins, arguing that the current crop of meme-inspired cryptocurrencies will do nothing more than “go up and down in value and put no value on their revival.”
In a recent blog post, Buterin argued that “a lot of people are screwed” about the current crop of meme coins, and detailed how the “financed games” that support them can support public goods and charities.
He took aim at the recent wave of “blatantly racist” meme coins on blockchains like Solana, adding, “I have no interest in coins named after major political movements, scams, rugpulls or sentimentality in month N. In month N+1 everyone gets upset.” .
Buterin appeared to be referring to a rash of racist signs seen in exchanges last week, with many using the n-word, “Jews did 9/11” and a “NAZI” sign with a swastika. As a trademark.
Buterin said: “One answer to this mess is to shake our heads at how disgusted we are and show our morals and protest against this stupidity.” A more effective step, he argued, would be to create a “more positively aggregated version” of the general concept of meme coins.
Buterin has pledged to donate a portion of the proceeds to the GiveWell organization when MemCoins is the same as GiveWell Inu (which is no longer active).
In the year In 2021, Buterin acquired half of Shiba Inu's (SHIB) supply and converted them to Ethereum. After doing that, he sent $53 million worth of ETH to give away. But the project doesn't seem to last any longer.
Assuming that his ideas could steal the fun from DJs who enjoy gambling on new meme coins, he suggested that developers build better Web3 games. He specifically focused on the 0xPARC organization responsible for the Dark Forest and Frog crypto games.
“I appreciate people's desire to have fun,” Buterin said, adding, “I'd rather swim with this stream than challenge the crypto space.”
Edited by Stephen's Grave.
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