Meme Coin r/Evolution
Why we are on the verge of an explosion of millions of meme coins - the internet’s next frontier.
TL;DR: The question investors ask when deciding if something is valuable just changed.
Instead of asking what product is behind it, they now ask - what community they support and what topic they are pushing towards.
First, what is a Meme Coin?
A meme coin is a coin that relies solely on a community or an idea around which the community revolves.
First-generation meme coins are derivatives of Dogecoin. The community that Dogecoin came from relies on Doge lovers, who usually live in subreddits.
The second generation of meme coins will just be forked products that did well in their airdrops and gave exposure to something people want by rewarding the right communities.
What people considered valuable so far: In crypto, for a long period, meme coins were considered a joke, and the main question people used to ask when evaluating a token was what app or business was behind it.
They used websites like Token Terminal or DeFiLlama to measure a protocol's revenues or fees.
The Next Generation of Meme Coins and Airdrops:
In the last 3 months, 3 product launches helped me realize the change that took place:
The question investors ask when deciding if something is valuable will change. Instead of asking what product is behind it, they will ask - what community they support and what they are about.
The next frontier of meme coins is all about how you airdrop and the exposure to a topic that people can't get enough of.
For it to work, you need to:
Create a community: Giving to communities that relate to the topic you are promoting.
Give them something they want: Original Reward actions. Reward new actions that were not rewarded before.
Ensure your product works and fix problems for this community.
3 Conditions for a Meme Coin to Flourish:
Becoming an Optimal Ceta on the Right Category - within that, there are a couple of things you need to get right :
Choosing the category which is not competitive yet and is going to be competitive soon
Understand the nature of these categories, what ppl are about, what are their goals
Decide things that distinguish your product and your culture and values that make you align with this community.
Smart distribution smart distribution means :
Fair game - show people that you cannot rug them
Give tokens to many people that are relevant to the message you are trying to deliver
legitimacy - to get people to care, you need to bring people with legitimacy; to be them, you need your thing to help them. Innovating on the problem of the space you are tackling is a great way to do so.
Three products showed me that things changed:
Blast is a rollup that understood one thing: people use a rollup to airdrop farm it. They admitted they would do so and farmed with the money locked in the bridge, sharing the reward with the users.
LFG - forked rollup that did one thing - it paid tokens to ETH users to come and take it to Solana. This is an AMAZING use case for the next frontier of meme coins. It was very clear about its ideology - Solana - and its only action is to bring new users to Solana.
Dymension - multichain rollup SDK that recently launched a genius airdrop campaign. Because they support multichain, they gave tokens to users across multiple chains. The airdrop turned them into a meme coin, a meme coin that supports the meme of data availability and multichain, things that people are dying to get some exposure to. In addition, they gave tokens to users of Solana products. This is an example of a meme coin; they supported cross-chain and became a way for people to get cheap exposure.
The result? 4.6 million engagements!
The Next Frontier of Meme Coins:
I predict we are going to see hundreds of new kinds of meme coins: tokens that launch original airdrops and innovate on:
Which communities the tokens are being airdropped to.
What actions are they measuring for the airdrop
The category they are standing for.