The Ethereum founder recently shared his thoughts on the essential features that a celebrity meme coin should possess in order to earn his respect, sparking a conversation with the lead developer of Shiba Inu.
Vitalik Buterin engaged in a discussion initiated by Chris Buniske of Placeholder regarding the potential of a meme coin tied to Iggy Azalea, suggesting it could set a new standard for sustainable value creation in the realm of celebrity-backed cryptocurrencies. This conversation comes at a time when various celebrities, including Caitlyn Jenner and Davido, have entered the memecoin market.
Buterin expressed his concerns about the current landscape of celebrity meme coins, emphasizing that financialization should serve a noble purpose such as healthcare or open-source software rather than being an end goal in itself. He commended the “Stoner Cats” project by Ashton Kutcher and Mila Kunis for its tangible output in funding a cartoon show.
To improve the direction of celebrity crypto projects, Buterin outlined key features that he believes are crucial for earning his respect. These features include serving a public good, offering engaging mechanics beyond token trading, and having a long-term vision lasting at least ten years.
Shytoshi Kusama, lead developer of Shiba Inu, responded positively to Buterin’s critique, indicating that they are already working on a project aligned with his vision. The Shiba Inu ecosystem team, led by Kusama, is transitioning SHIB from a meme coin project to a decentralized ecosystem with various tokens and projects like ShibaSwap, Shibarium, Shiboshis, and the Shiba Inu metaverse.
Overall, Buterin’s recommendations for celebrity meme coins aim to encourage meaningful and lasting projects that go beyond mere financial gain, reflecting a broader trend towards sustainability and purpose in the cryptocurrency space.