✨ Vitalik Buterin Weighs in on Celebrity Crypto Projects
posted 5 Jun 2024
Vitalik Buterin has voiced his displeasure with the "celebrity experiments of this cycle," commenting on Chris Burniske's post regarding the MOTHER token, launched by rapper Iggy Azalea on May 28.
This conversation takes place amid a broader trend of musicians and other celebrities launching their own tokens. We recently wrote about an interesting case involving Caitlyn Jenner.
This conversation takes place amid a broader trend of musicians and other celebrities launching their own tokens. We recently wrote about an interesting case involving Caitlyn Jenner.
Vitalik stated he can only respect such projects if they have a worthy goal (e.g., healthcare, open-source software, art). He highlighted the Stoner Cats project (an animated series and NFT collection) by Ashton Kutcher and Mila Kunis, which we discussed in a dedicated article on our website.
Then he outlined the key features a celebrity-backed crypto project should have:
- It should have a socially beneficial purpose beyond just making money for celebrities and early adopters. An example could be charity.
- There should be some engaging mechanics, or at least a DAO where token holders can vote.
- The project should be designed to last more than 10 years, not just a few months until it is forgotten.
The north star should be: to have a project where even if eventually all tokens involved go to zero, the average person who participated is happy to have done so. Regular businesses and charities accomplish this goal all the time! It's a low bar, but things we build should meet this bar as well
Buterin summarized.
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