Vitalik Buterin Disappointed With The Selebrity Meme Coin Trend, Here's Why!

JAKARTA - Vitalik Buterin, co-founder of Ethereum, recently expressed his disappointment with the trend of meme coins supported by celebrities. In a series of tweets and articles, Buterin highlighted the importance of crypto projects that have clear public goals and real contributions to society, not just financializing tools that benefit a handful of people.

The phenomenon of celebrity meme coins has attracted the attention of many crypto investors and enthusiasts, but has also raised concerns about its long-term impact on the crypto community. Buterin stressed that these kinds of projects should be designed with a greater goal than just financial gain, such as supporting art or charity.

In recent weeks, celebrities such as Catilyn Jenner, Rich The Kid, Iggy Azalea, and Davido have launched their own meme coins, taking advantage of the popularity of cryptocurrencies. However, many of these tokens experienced a sharp decline in value, causing heavy losses to buyers who were unlucky.

Reporting from CryptoPotato, Buterin strongly criticized the use of meme coins by celebrities who did not have clear public goals. As a positive example, he pointed to the NFT Stoner Cats' project starring Ashton Kutcher and Mila Kunis, which used the funds raised from NFT sales to fund the production of the animated series.

Buterin also suggested that the meme coin project be designed to last a long time and provide a fun mechanism for its users, such as a decentralized autonomous organization with token voting rights. He argues that these projects should provide satisfaction to participants, even if the token value eventually goes to zero.