brypto

If you launch a token as a marketing stunt, you attract the worst cohort of potential users (low retention PnL oriented mercenaries)

Congrats, now your brand is reflexive

Extremely bearish anyone trying to parlay memecoin attention into meaningful customers

https://x.com/cherdougie/status/1884825341400698969?s=46

the funniest aspect of the terrible vc take: crypto will literally launch an illegal security to avoid talking to customers or building something useful

Founder, designer, & product guy at /basepaint and /eigenlayer

Entire crypto industry runs on airdrop farming, this isn't net new.

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.