View: Memes is becoming a 'industrial complex' that quickly extracts value, contrary to the original intention

PANews reported on February 24th that according to Business Insider, Nic Puckrin, the founder of The Coin Bureau, stated that people in the current crypto market have begun to feel tired of meme coins. The investor sentiment now may be as low as it was during the FTX crash, or even lower. Almost every day, new meme coins are launched, and some celebrities are involved in promotion and dumping. The original concept of meme coins was to be a fun asset that the community could participate in, reflecting internet meme culture in a shared Token. However, meme coins are no longer about community, fairness, or opposition to venture capitalists, but have evolved into an “industrial complex” aimed at extracting as much value as quickly as possible, which is not its original intention.