Memecoins are not dead because the market is down and the narrative has faded, according to president of payment infrastructure company MoonPay, Keith A. Grossman, who said that memecoins will be back but in a different form.
The real innovation of memecoins is that attention can be tokenized easily and at low costs through blockchain technology, democratizing access to the attention economy, Grossman said. He continued:
“Before crypto, attention could only be monetized by platforms, brands and a small group of influencers. Everyone else generated value and gave it away for free. Likes, trends, inside jokes and communities created massive economic value.”
However, that value did not flow back to participants…
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Source cointelegraph.com
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