Ethereum Co-Founder Vitalik Buterin Calls for Positive-Sum Meme Coins

In a recent blog post, Ethereum co-founder Vitalik Buterin called for a more positive approach to meme coins and crypto games. Buterin also urged developers to create projects that contribute positively to the ecosystem and the world at large.

Buterin’s post comes amidst growing concerns about the rise of meme coins, particularly on the Solana blockchain, which have been criticized for their lack of substance.

Key highlights:

• He suggests that issuing coins could be a new way to fund important public projects, such as cancer research or environmental conservation.
• Buterin acknowledges the current trend of meme coins, which often contribute nothing of value and leave participants upset in the long run.
• Buterin suggests the idea of “charity coins,” which dedicate a portion of the token supply or ongoing fees to the support of public goods.
• He also introduces the idea of “Robin Hood games,” which combine the fun and democratic aspects of meme coins.

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Reflecting on a post he published ten years ago, Buterin argues that issuing coins could be a third class of large-scale funding technology, alongside markets and institutions.

He envisions a future where people who care about specific causes, such as cancer research or environmental conservation, would hold, accept, and trade coins dedicated to those causes, effectively determining which projects receive funding.

Buterin recognizes current trend of meme coins

However, Buterin also recognizes the current trend of meme coins, which often lack substance and leave participants disillusioned in the long run. He cites examples of racist Solana meme coins and the general dissatisfaction expressed by many in the crypto community.

Buterin suggests “charity coins” as a potential solution, dedicating a significant portion of the token supply or ongoing fees to support public goods. He mentions examples like GiveWell Inu and Fable of the Dragon Tyrant, which have attempted to implement this idea, albeit with varying degrees of success.

Taking the concept further, Buterin introduces the idea of “Robin Hood games,” which combine the fun and democratic aspects of meme coins with meaningful gameplay and financial inclusion for lower-income users.

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He proposes that the blockchain could host games like World of Warcraft, providing participants with a more engaging and positive-sum experience as opposed to simple copy-paste coins.

In conclusion, Buterin calls for a more nuanced approach to the “degen” parts of the crypto space. He also urged developers to create higher-quality, fun projects that contribute positively to the ecosystem and the world.