I'm feeling quite unhappy about with "this cycle’s celebrity experimentation" so far.
"Financialization as a means toward an end", I can respect if the end is worthy (healthcare, open source software, art, etc). Financialization *as the final product*, 🤮
Ashton and Mila's Stoner Cats was vastly more honorable than anything we've seen from this 2024 celebrity memecoin era - at least there was an actual show being funded.
How do we push things in a better direction?
"Financialization as a means toward an end", I can respect if the end is worthy (healthcare, open source software, art, etc). Financialization *as the final product*, 🤮
Ashton and Mila's Stoner Cats was vastly more honorable than anything we've seen from this 2024 celebrity memecoin era - at least there was an actual show being funded.
How do we push things in a better direction?
A quick summary of features that a celebrity crypto project needs to have for me to be more willing to respect it:
1. Have some kind of public-good goal that it's serving, other than enriching the celebrity and early adopters. Realistically, either an art project or the celebrity's favorite charity, or both.
2. Have some kind of fun mechanics that go beyond just trading a token. As much as I dislike token voting DAOs, at least they give *something* for people to do and organize around. The DAO should not fully decide the agenda, but it can have some influence.
3. Make something that lasts 10+ years, rather than bubbling around for a few months and then being forgotten.
The north star should be: to have a project where even if eventually all tokens involved go to zero, the average person who participated is happy to have done so. Regular businesses and charities accomplish this goal all the time! It's a low bar, but things we build should meet this bar as well.
In summary, basically the same kinds of advice as what I wrote in vitalik.eth.limo/general/2024/0…
1. Have some kind of public-good goal that it's serving, other than enriching the celebrity and early adopters. Realistically, either an art project or the celebrity's favorite charity, or both.
2. Have some kind of fun mechanics that go beyond just trading a token. As much as I dislike token voting DAOs, at least they give *something* for people to do and organize around. The DAO should not fully decide the agenda, but it can have some influence.
3. Make something that lasts 10+ years, rather than bubbling around for a few months and then being forgotten.
The north star should be: to have a project where even if eventually all tokens involved go to zero, the average person who participated is happy to have done so. Regular businesses and charities accomplish this goal all the time! It's a low bar, but things we build should meet this bar as well.
In summary, basically the same kinds of advice as what I wrote in vitalik.eth.limo/general/2024/0…
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