gm to absolutely everyone except those hating on Toly.

Let’s be real: most memecoins and NFTs are indeed digital slop. Anyone pretending they have intrinsic value is just lying to themselves.

That said, it’s perfectly fine to buy and trade them them. I myself just loaded up on a bunch of new NFTs (more on that later).

Especially at this point in the cycle, they’ll probably go much higher. Narrative-driven trades tend to outperform pure fundamentals in the short term as they’re more reflexive and momentum-based.

But the problem is, people lie to themselves so much that they start living in an alternate reality.

That’s why I respect @aeyakovenko - he had the guts to speak out against the culture on his own chain, knowing full well the backlash he’d face. It’s clear we need a lot more focus on real fundamentals and sustainable cash flows if we want this industry to grow up.

You can ignore that for the next six months if you want - but after that, it’ll be more important than ever to remember.