On 29 December 2023, Emin Gün Sirer made a series of social media posts discussing his views on meme coins, their cultural significance, and their place in the broader cryptocurrency ecosystem. Emin Gün Sirer serves as the CEO and Co-Founder of Ava Labs, the company behind the Avalanche blockchain, known for its high throughput and scalability.
Cultural Comparison
Surprisingly, skepticism towards meme coins is compared to historical skepticism of other cultural phenomena. There’s significant institutional activity on Avalanche, indicating its solid performance compared to other cryptocurrencies.
Sirer admits he initially struggled to recognize the value of meme coins. He also compares meme coins to luxury brands, noting their unique place and audience in the market. He also advises caution when dealing with meme coins due to their high volatility.
Avalanche Foundation
The foundation views meme coins as embodying the communal ethos and shared interests of the cryptocurrency community and is curating a selection of meme coins based on the Avalanche platform. They have set specific criteria for choosing meme coins, including the number of holders and liquidity levels.
Embracing Cultural Diversity
The foundation has expressed its commitment to supporting a wide range of culturally relevant projects. By adding meme coins to the Culture Catalyst program, the Avalanche Foundation is positioning itself as a flexible and inclusive entity in the dynamic Web3 environment.
Hot Take
Emin Gün Sirer’s take on meme coins sheds light on their cultural significance and potential value in the cryptocurrency world. The validation of meme coins by the Avalanche Foundation adds a new layer of context to their role within the blockchain community.
By
By
By
By
By