{"id":12936,"date":"2024-04-25T15:22:40","date_gmt":"2024-04-25T12:22:40","guid":{"rendered":"https:\/\/forklog.com\/en\/memecoins-a-threat-to-the-crypto-industrys-growth-say-experts-from-a16z-and-compound\/"},"modified":"2024-04-25T15:22:40","modified_gmt":"2024-04-25T12:22:40","slug":"memecoins-a-threat-to-the-crypto-industrys-growth-say-experts-from-a16z-and-compound","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/memecoins-a-threat-to-the-crypto-industrys-growth-say-experts-from-a16z-and-compound\/","title":{"rendered":"Memecoins: A Threat to the Crypto Industry&#8217;s Growth, Say Experts from a16z and Compound"},"content":{"rendered":"<p>The surge in meme tokens is causing more disillusionment and departure among developers than even the bear market, according to Michael Dempsey, managing partner of Compound&#8217;s venture division.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Seeing memecoins leading to disillusionment\/churn of crypto builders to a degree more extreme than even the bear market the past few years.<\/p>\n<p>Increasingly find it hard to square VCs who think these are beneficial with those who also say they care about the long-term fulfilled\u2026 <a href=\"https:\/\/t.co\/uZW9iG3X7l\">pic.twitter.com\/uZW9iG3X7l<\/a><\/p>\n<p>\u2014 Michael Dempsey (@mhdempsey) <a href=\"https:\/\/twitter.com\/mhdempsey\/status\/1783142752273776985?ref_src=twsrc%5Etfw\">April 24, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>His view was <a href=\"https:\/\/twitter.com\/eddylazzarin\/status\/1783149288471617661\">supported<\/a> by a16z Crypto CTO Eddy Lazzarin, who noted that these assets are &#8220;not very interesting from a technical perspective.&#8221;\u00a0\u00a0\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;It&#8217;s no surprise they are unattractive to creators,&#8221; he added.<\/p>\n<\/blockquote>\n<p>Mike Dudas, co-founder of The Block, disagreed. He argued that memecoins are &#8220;super interesting&#8221; to users, as evidenced by their &#8220;extremely broad&#8221; adoption across networks like Base, Blast, and Solana.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">They&#8217;re super interesting to users as evidenced by the extremely broad adoption and usage across multiple chains (Base, Blast, Solana, etc.)<\/p>\n<p>\u2014 Mike Dudas (@mdudas) <a href=\"https:\/\/twitter.com\/mdudas\/status\/1783170465269199215?ref_src=twsrc%5Etfw\">April 24, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He emphasized that transactions with such coins are merely one type of on-chain activity, which does not hinder other blockchain use cases.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Memecoins alter how the public, regulators, and entrepreneurs see crypto. <\/p>\n<p>At best, it looks like a risky casino. Or a series of false promises masking a casino.<\/p>\n<p>This deeply affects adoption, regulation\/laws, and builder behavior.<\/p>\n<p>I see the damage every day. You should too.<\/p>\n<p>\u2014 Eddy Lazzarin ?? (@eddylazzarin) <a href=\"https:\/\/twitter.com\/eddylazzarin\/status\/1783179299085856934?ref_src=twsrc%5Etfw\">April 24, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Memecoins change how the public, regulators, and entrepreneurs view cryptocurrencies. At best, they resemble a risky casino. Or a series of false promises masking gambling. This deeply affects adoption, regulation\/laws, and developer behavior,&#8221; Lazzarin responded.<\/p>\n<\/blockquote>\n<p>In March, Messari&#8217;s head of research, Martje Bas, <a href=\"https:\/\/u1f987.com\/en\/news\/messari-labels-meme-tokens-as-a-trojan-horse\">stated<\/a> that meme tokens act as a &#8220;Trojan horse&#8221; for cryptocurrencies, aiding their widespread adoption. Later, Pantera Capital&#8217;s managing partner, Paul Veradittakit, made a similar comparison, highlighting the benefits of these assets for the entire Web3 ecosystem.<\/p>\n<p>Some industry experts have expressed concerns about a potential <a href=\"https:\/\/u1f987.com\/en\/news\/endless-meme-rally-experts-warn-of-bubble-burst\">bubble burst<\/a> in meme tokens. CryptoQuant founder and CEO Ki Young Ju <a href=\"https:\/\/u1f987.com\/en\/news\/cryptoquant-ceo-criticizes-meme-coin-surge\">compared<\/a> the situation to the 2018 ICO mania, which resulted in most investors losing their funds.<\/p>\n<p>Earlier, on-chain researcher ZachXBT discovered that at least 12 Solana meme coins, which collectively raised $26.7 million in presales, were abandoned by their teams within a month.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The surge in meme tokens is causing more disillusionment and departure among developers than even the bear market, according to Michael Dempsey, managing partner of Compound&#8217;s venture division. Seeing memecoins leading to disillusionment\/churn of crypto builders to a degree more extreme than even the bear market the past few years. Increasingly find it hard to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1161,1138],"class_list":["post-12936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-memes","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=12936"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12936\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/12935"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=12936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=12936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=12936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}