According to BlockBeats, on August 8, CryptoQuant CEO Ki Young Ju shared his insights on social media about the evolution of online communities and the role of meme coins in the cryptocurrency space. He highlighted how historically, communities have been formed by aligning individual interests with systemic goals, such as in nations and corporations, which created systems like capitalism to unify personal and collective interests.
With the advent of the internet, new systems of interest alignment began to emerge. People worldwide started forming borderless online communities, aligning their interests by sharing information about common goals. Initially, these online communities were based on shared interests, but with the rise of cryptocurrencies, they evolved into financial interest groups. One of the most intriguing phenomena in this field is meme coins.
Meme coins are financial products created by individuals attracted to the excitement of online humor communities. These coins allow the public consensus on certain ideas to be quantified in monetary terms. The more consensus an idea gains, the more funds flow into the market. However, as some have observed, without actual value creation—without online collaborative work following interest alignment—cryptocurrencies have been likened to casinos.
To create value in the crypto industry, collaborative outcomes from online communities with shared goals are essential. A significant and broad task that could align 8 billion people online might lie in the content industry. The internet is ultimately a tool for sharing information quickly, transparently, and efficiently, whether it be investment information, lifestyle advice, entertainment, or gaming. If collaborative work is directed towards co-creating content, cryptocurrencies can be used to align community interests.
For entrepreneurs just starting in the crypto space, it would be wise to consider what kind of projects could unite 8 billion people globally. It is premature to completely dismiss the entire crypto industry because of meme coins. While meme coins should not be entirely negated, it is also too early to conclude that they represent the endpoint of cryptocurrencies. Ki Young Ju expressed hope for the prosperous development of the crypto industry.
