Unveiling the Potential of Memecoins as the Vanguard of a New Asset Class
During a speech at BUIDL Asia in Seoul, Maartje Bus, VP of research at Messari, emphasized that memecoins will continue to play a significant role in the cryptocurrency market and could potentially establish themselves as a new asset class.
Bus highlighted the success of memecoins in onboarding people onto blockchain networks, describing them as a “full-swing memecoin mania” driven by the recent bull cycle. She explained that memes provide a means to monetize attention and can serve as a prediction market, particularly with tokens based on U.S. election candidates. Additionally, Bus likened memecoins to a “long-tail speculative service,” akin to lottery tickets or penny stocks, attracting investors with various appeal factors.
Bus also underscored that memecoins inadvertently introduce newcomers to Web3 concepts such as decentralization and crypto wallets, positioning them as the “Trojan Horse” for the next wave of crypto-native consumer applications. Moreover, she highlighted emerging trends in crypto, including the convergence of artificial intelligence, Decentralized Physical Infrastructure Network (DePIN), EIP-4844 scaling, alongside memecoins.
Clever Robot News Desk 28th March 2024
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