investing & writing about consumer tech since 2016. FID #30. hosting /web2web3 

https://www.lisnewsletter.com/

serious question: when the memecoin gets nuked and the price tanks, what happens to people’s sense of entertainment or loneliness or fulfillment?

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina

I think it’s good to call memecoins what they are:

A lottery ticket with a community

I think they have huge potential for positive sum building on top of this very powerful core product (see degen!), but it’s probably healthiest and fairest to users to call them what they are

playing /bracket, assisting /bracky, talking /greatbooks

Many crypto assets claim some (often future) utility/fundamentals, whereas memecoins tend to be very explicit about what they are for: 

a game played for entertainment and financial gain (or loss.)

Games have winners and losers—I believe majority of meme market participants understand that. Not all.

I’d argue the latter is more true of things claiming utility

Yeah this is an interesting point: that the meme element functions as an (implicit) announcement that the thing is a toy/game

But if we’re being honest it also often functions as a sleight-of-hand by the creator — making the thing feel harmless to try and providing a get-out-of-jail-free card upon future failure