TL; DR
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‘Cultural coins’ are a new subgenre of meme coins, which have outperformed Ethereum Layer 2 by 33x, and Real World Asset projects by 4.6x!
Full story
Turns out memecoins have become so popular that they now have their own subgenres…
(Some of these are VC approved – something we never thought we’d say with a straight face).
Here’s the gist of what’s happening:
Have you ever said a slang word ironically, like YOLO.
…and you’re still using it a few weeks later, but all the irony has been exposed and it’s just something you say now?
Memecoins follow a similar trajectory.
They started out as jokes around funny animals (usually dogs) on Twitter/X, but now the broader crypto space is seeing a strangely consistent amount of profit from memecoins..
And with that has come a rebranding of sorts for a certain subsection of memecoins that VC analysts are now calling “culture coins.”
These are currencies that form certain types of communities around themselves – usually focused on politics, religion, consumer goods, sports, etc.
And (apparently) these “culture coins” have outperformed Ethereum Layer 2s by 33x, and Real World Asset projects by 4.6x!
File this under ‘proof that we are definitely living in a simulation.’