Miggles presents an interesting paradox for Base.

Coinbase launches a new collection called Mr. Miggles with 70k mints from 42k unique wallets (and 11 ETH in sales). A very successful open edition.

The news of a Coinbase-backed meme kickstarted an unofficial memecoin which ripped to 100M cap this week. (MIGGLES)

I and many others here minted the Miggles open edition as a part of Onchain Summer + Smart Wallet.

There is no value capture between the Miggles editions and the MIGGLES memecoin.

Traders who DID NOT do the officially sponsored Miggles campaigns outperformed those who did.

I find it hard to see a world where Coinbase/Base fully lean into promoting official memecoins - which begs the question, what happens next?

404s are an interesting alternative - but this would make the $0.60 mint price of the open edition much high if they editions appreciated in value as the token mooned.

How does Base *endorse* the things that appreciate the most in value while staying true to the open edition meta?