Web3 Growth & IP | Business Development & Strategist | Open to Opportunities in Web3 | Azuki #5008
Sharing some thoughts I jotted down on the plane after Devcon. Heard this multiple times in panel discussions and through conversations with VCs, whales, and the community. Initially, utility tokens were praised for their potential to democratise investment and participation in blockchain projects. But over time, many of them struggled to achieve real-world usage or hold value beyond speculative trading. Creating a new currency isn’t easy for sure. It requires trust, user adoption, and often regulatory approval. Many projects tried to shortcut these with utility tokens, but sustainable value has been hard to achieve without real adoption. The shift toward meme coins is an interesting one. As highlighted by VCs and whales at Devcon, it reflects a broader trend in crypto - one that's driven by community narratives, culture, and social influence. Meme coins flip the script by leaning into community and hype rather than utility. It thrives on engagement and culture, making community their core value. This often results in rapid and/but volatile price and community growth. Unlike utility tokens, meme coins are easy to understand, offering a straightforward entry point for new investors. It’s a fascinating shift from utility to culture! Says a lot about where the space is heading towards.
