elebrities like Iggy Azalea launched memecoins, showcasing widespread crypto adoption among public figures.In the year 2024, the trend of memecoins has gained considerable traction, with celebrities like Iggy Azalea, the American rapper, joining the fray by launching their own tokens, such asexpressed discontent with the surge of celebrity-endorsed memecoins and emphasized the necessity for more relevant projects in the crypto sphere.
Here, Buterin discusses “Stoner Cats,” a webcomic by Ashton Kutcher and Mila Kunis, lauded for its remarkable success in 2023. The SEC then charged the creators for an unregistered offering of NFTs. As per an “Stoner Cats sold its entire supply of NFTs in just 35 minutes, generating proceeds of over $8 million, most of which were then resold – not held as collectibles — in the secondary market within months.”
Buterin’s concerns regarding celebrities’ growing interest in memecoins raise a critical question: Is the future of cryptocurrency misdirected?In response, the Ethereum co-founder recommended various strategies to enhance celebrity-backed crypto ventures, focusing on public benefit, engaging content, and project sustainability. He suggested,On the community front, reactions appear largely supportive of memecoins, as observed by researcher Gumshoe in their recent X post.
“Iggy went from being called a scammer to having Vitalik and Ethereum OGs discussing the celebrity memecoin meta in a week. Pretty amazing if you ask me.”, Mother Iggy experienced a notable 40% surge in the past 24 hours, while Ethereum saw a more modest increase of 1.16% at the time of writing.Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life.