Vitalik Buterin slams celebrity memecoins
The recent surge of celebrity memecoin releases has left Vitalik Buterin dissatisfied. The co-founder of Ethereum believes the goal for a project should be that even if the tokens eventually become worthless, the average participant should still feel satisfied and happy to have been involved.
In a June 5 X post, Buterin said that financialization is only justified if it serves a purpose that brings value to society, such as improving healthcare, supporting open-source software and promoting art and creativity.
His statement came in response to a post about the possibility of Iggy Azalea’s Mother Iggy (MOTHER) token becoming the mother of this cycle’s celebrity experimentation if it breaks into sustainable value creation.
Celebrity tokens are digital assets or cryptocurrencies created and endorsed by celebrities. They leverage the celebrity’s popularity to drive interest and investment, often integrating with the broader cryptocurrency ecosystem.
Buterin's “worthy” checklist
Buterin explained that Ashton Kutcher and Mila Kunis’ Stoner Cats project was far more respectable than anything seen from the 2024 celebrity memecoin trend. He said: “At least Stoner Cats funded an actual show, whereas the memecoins lack substance and purpose.”