TL; DR
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One of the big dogs in the industry, the Avalanche Foundation, just announced it will be buying millions of dollars worth of meme coins.
Why? ‘For the culture.’
It’s pretty crazy.
That said, meme coins have an interesting dichotomy in the Web3 space…
On the one hand, they bring in a lot of new users and traffic. But on the other hand, they are extremely volatile and often fueled by pure hype, with no real point.
So why are we strangely excited about this?
Okay, hear us out…
Think about the performance Bang straight – where parents would send their misbehaving children to jail, and get them there’immediately afraid’?
Well, for us, seeing meme coins embraced by a major project like Avalanche feels akin to those misbehaving kids visiting prison.
You change their environment → you change the way they behave → you change the way the rest of the world sees them.
Take Dogecoin for example: it was created as a joke, but became increasingly resilient as it was endorsed by more and more people over the years.
And it seems like this is the trajectory Avalanche wants to chart for other meme coins.
The foundation plans to purchase coins that meet certain standards and expectations, but are also seen as culturally relevant.
It’s weird. But we like weird!