Zach
@zherring
the funniest aspect of the terrible vc take: crypto will literally launch an illegal security to avoid talking to customers or building something useful
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Zach
@zd
I think there's nuance here. Meme coins by nature have zero utility. They are a collectible - a signal of support and affiliation. Because of that, I agree with Cheryl that token marketing > traditional ads, and that you can turn your CAC into customer wealth creation. That’s net new. On the flip side, the more utility you add, the closer you get to “onchain security” land. These onchain securities will be regulated just like equity. I think this distinction is important and both should exist to create diversity in the market.
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Zach
@zherring
Entire crypto industry runs on airdrop farming, this isn't net new.
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Zach
@zd
Trad advertising doesn't have an equivalent (unless you know something I don’t) Call it whatever you want - "airdrop farming" or "token marketing" or "liquidity mining" idc This is very very new IMO.
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Zach
@zherring
Sure, we'll see how effective it is in the long run.
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Zach
@zherring
I get that I'm being a stick in the mud but my bar for "new interesting innovation" is higher than a 2 day old trading chart tbh. We'll see what if any long term applications emerge from these stunts.
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Zach
@zd
I hear you. All I'm saying is the ability to launch tokens to generate attention is a net new thing. For us crypto people who have been here multiple cycles, it's not new because we've seen it in prior cycles. But for many of these people who are launching coins and don't come from crypto, this may be their first introduction to doing so. So to them, it's new.
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