According to Zombit’s previous report, many celebrities have used their influence in the past week to issue tokens. Although some tokens, such as MOTHER issued by American celebrity Iggy Azalea, have successfully inflated to a market value of over a billion, the vast majority still ended in failure. Such 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 token issuance experiment” of this cycle:
Regarding celebrities entering the cryptocurrency field, Vitalik also gave several suggestions, hoping that such influence could be used in the right place. Firstly, celebrity-driven cryptocurrency projects must serve the public interest as a service goal, rather than just making celebrities and early adopters wealthy. This could typically involve art projects or charitable organizations supported by celebrities, or both.
Furthermore, these projects need to have some interesting mechanisms beyond just “tradeable 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:
