On August 8, CryptoQuant CEO Ki Young Ju posted on social media that “human history has formed communities by aligning individual interests with systems. Entities like countries and companies have created systems like capitalism and companies to unify individual and collective interests in one direction.
With the invention of the Internet, new interest alignment systems began to emerge. People from all over the world began to form borderless online communities to align their interests by sharing information about common goals.
These online communities that started out as just shared interests have evolved into financial interest groups with the advent of cryptocurrencies. One of the most interesting phenomena in this space is meme coins.
People attracted by the excitement of online humor communities created financial products called meme coins, which allowed them to quantify the degree of public consensus on certain ideas in monetary form. The more consensus an idea gained, the more money flowed into the market. However, as some have observed, in the absence of actual value creation - no online collaborative work that follows the alignment of interests - people began to call cryptocurrencies casinos.
In order for the crypto industry to create value, there must be collaborative results from online communities that share a common goal. What is a big, broad task that can align 800 million people around the world online? I think it lies in the content industry. The Internet is ultimately just a tool for sharing information quickly, transparently, and efficiently - whether it's investment information, lifestyle advice, entertainment, or games. If collaborative work is put into co-creating content, cryptocurrencies can be used to align the interests of the community.
For those entrepreneurs who are just starting crypto startups now, it would be wise to think about what kind of project can unite 8 billion people around the world. It is too early to completely write off the entire crypto industry because of meme coins. I don’t want to completely write off meme coins. However, it is too early to conclude that meme coins are the end of cryptocurrency. I hope the crypto industry can thrive. "
