VITALIK BUTERIN ON WHY MEMECOINS S*CK🚫🤔
Vitalik Buterin, on Friday, penned a post on memecoins and where they stand in this cycle as racist and sexist memecoins continue to pop up.
“This time, they are heating up again, but in a way that is making many people feel uneasy, because there isn’t anything particularly new and interesting about the memecoins,” Buterin wrote.
“If people value having fun, and financialized games seem to at least sometimes provide that, then could there be a more positive-sum version of this whole concept?” he asked.
He added two potential avenues to maintain the fun that some are looking for in crypto while also benefiting specific parties. One such avenue are charity coins, which donate either part of the token supply or create a fee mechanism dedicated to a charity.
Then there are “Robin Hood games.” Buterin urges people to consider making games that are “actually meaningful and fun” not just “Candy Crush on the blockchain.” His example for this? World of Warcraft.
Axie Infinity, prior to the $600 million hack, was a boom for people in some Southeast Asian countries. The goal would be to make a game that’s interesting but also benefits lower-income players, instead of harming them.
Professor Mende's take: Fact is, we experience more and more games on the blockchain, but most of them are meaningless cash grabs. It's all about making money quick, draining a liquidity pool and jumping onto the next game while the remaining players lose their investment.
There's nothing long-lasting, sustainable, exciting about the games themselves.. it all comes down to cashing a check and moving to the next big thing. That's why I started working on Bonuz, where we gamify the real world, while giving businesses and participants tangible rewards without all this craziness.
I think Vitalik is 100% right and I'm happy to be the CEO of a project that actually aligns with his values!
👉 Feel free to visit bonuz.market and learn more! It took almost 2 years building.
