According to Zombit’s previous report, many celebrities have used their influence to launch tokens in the past week. Although there are some tokens that have successfully skyrocketed to a market value of over a billion, such as the token MOTHER issued by American celebrity Iggy Azalea, the vast majority still end in failure. This chaos has sparked heated discussions in the cryptocurrency industry.
In response, Ethereum founder Vitalik Buterin also commented on this on X. Vitalik expressed his dissatisfaction with the “celebrity coin issuance experiment” of this cycle:
Regarding celebrities entering the cryptocurrency field, Vitalik also provided some suggestions, hoping that such influence could be used in the right place. Firstly, cryptocurrency projects driven by celebrities must have a public service goal, rather than just making celebrities and early adopters rich. This could typically be an art project or a charity supported by celebrities, or both.
Furthermore, these projects need to have some interesting mechanisms beyond just “tradable tokens” (such as decentralized governance) and create something that can last for over 10 years, rather than just a fleeting moment within a few months. Finally, Vitalik stated:
