Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

And so the idea that having a capital base that on the first kind of speed bump is able to just exit your asset is just super counterproductive relative to what you're trying to do as a builder. So my sense is like the allure of doing it, especially in a market where you see other people being able to get some market cap, that you run the back, back of the envelope math and you think, great, this is a non-dilutive way for me to raise some capital.

I think you wanna think about credibility and you also want to think about the ability, if you do actually have something working later, are you gonna be able to actually attract investors who then may come and say, wait a second, you have this. This memecoin how do I think about that? So I would be really cautious about pressing that button unless you really feel like you have no other alternative.

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Transcript

Are memecoin launch pad's a major paradigm shift for fundraising? Probably not. I think for some people that's maybe the only way they can fundraise, so go for it. Do your thing. But I think for most people, you're gonna want capital that's a lot more patient and long term aligned with whatever you're building.

And I think the idea of offering people who are funding your initial thing immediate liquidity. Is just a bad idea. If you're trying to build, especially in consumer, something with product market fit, there's so much iteration, there's so many highs and lows where you don't know whether things are working.

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Pi-chi.eth (she/her) Artist /animeoutcasts
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> I think a meme coin to get a proof of concept up and running for a solo dev could be a phenomenal experiment.

Don't underestimate impact on future investors, though

I think a meme coin to get a proof of concept up and running for a solo dev could be a phenomenal experiment.

But a true raise should stay far far away. Traders are looking to flip coins as quickly as possible for profit.  

Investors are looking at a much longer rime horizon. Two very different beasts.

building checkr.social | writing tomu.xyz | nf.td/tomu

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Would you say $QR by @jake or $checkr by @tomu fall in this category? or you wouldn't consider those memecoins?

If you aren't familiar, both projects have a working app, with +/-thousands of users offering a service (QR = marketing, Checkr = Analytics). Both launched a coin and have been founding the development that way. I wouldn't place them in the memecoin category, but would love to hear your thoughts for those scenarios.

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what about smarter coins with utility in the underlying protocol or infra, and that incentivise alignment through staking or similar mechanics?

yeah having raised w a memecoin agree w most of this. the incentives for you (long-term building) and buyers (short-term liquidity) just aren’t aligned

i’d say it doesn’t categorically and always limit future funding options – likely depends on scale 

a great perspective a friend shared w me yesterday: “is having and raising the token price foundational to your business, or is it a distraction from your core metrics?”

I really love this Dan. 

Credibility, Authenticity and Status really matter a lot in our world. 

It's just that people are impatient. Using memecoins as a fundraising strategy is a great idea but it should have a long term vision and mission.

The issue is that these days memecoins have been corrupted because of this "get rich quick mentality" some people have. The solution to this is I think it's to do proper research before investing in it. 

This is a good talk ✌🏽

Memecoins: the ultimate test of whether attention truly equals value. Just remember - your time is more non-fungible than any token. ⏳💸