Dogecoin is at the forefront of future assets
Ephemeral aspects of pop culture become marketable commodities. This phenomenon will only increase in the years to come.
Opinion
Attention is the lifeblood of Dogecoin (DOGE) and other memecoins. Just as earnings determine the price of companies' actions, the size and quality of attention memecoins capture determines their price action.
Successful crypto traders understand that DOGE and its kin are not just tokens in the “big shitcoin casino,” but are, in fact, tradable derivatives of human attention. They are tradable assets backed by zeitgeists.
Trading memecoins is not just about spinning the wheel, but about weighing the valuation of the coin against the attention it receives. As crypto influencer Cobie put it, “smart traders are starting to sell as ownership and valuation have caught on.”
This means that human attention is increasingly seen as one of the world's rarest commodities, and it is. In fact, we've known it for so long that talking about the "attention economy" has become a cliché.
Related: 90% of GameFi projects ruin the reputation of the industry
In the 2000s, Web2 companies like Facebook and Snapchat learned how to monetize attention. They created apps that captured users' attention and tracked their behaviors, allowing them to mine and sell attention to advertisers.
I know this might sound like undergraduate hooey, but as our economic system changes and evolves, it's only natural that the kinds of things we enjoy will grow. If human attention is powerful enough to drive the results of huge companies like Meta and Google, then why not trade it directly?
Memecoins are a way to value and exchange attention merchandise in a decentralized way. Using blockchains and automated market makers, anyone can trade on people's attention and enthusiasm.
Remember when Joe Rogan got in hot water earlier this year over comments he made on his popular podcast The Joe Rogan Experience? In 24 hours, maybe a dozen Rogan-themed memecoins have been launched, including one, M...
Ephemeral aspects of pop culture become marketable commodities. This phenomenon will only increase in the years to come.
Opinion
Attention is the lifeblood of Dogecoin (DOGE) and other memecoins. Just as earnings determine the price of companies' actions, the size and quality of attention memecoins capture determines their price action.
Successful crypto traders understand that DOGE and its kin are not just tokens in the “big shitcoin casino,” but are, in fact, tradable derivatives of human attention. They are tradable assets backed by zeitgeists.
Trading memecoins is not just about spinning the wheel, but about weighing the valuation of the coin against the attention it receives. As crypto influencer Cobie put it, “smart traders are starting to sell as ownership and valuation have caught on.”
This means that human attention is increasingly seen as one of the world's rarest commodities, and it is. In fact, we've known it for so long that talking about the "attention economy" has become a cliché.
Related: 90% of GameFi projects ruin the reputation of the industry
In the 2000s, Web2 companies like Facebook and Snapchat learned how to monetize attention. They created apps that captured users' attention and tracked their behaviors, allowing them to mine and sell attention to advertisers.
I know this might sound like undergraduate hooey, but as our economic system changes and evolves, it's only natural that the kinds of things we enjoy will grow. If human attention is powerful enough to drive the results of huge companies like Meta and Google, then why not trade it directly?
Memecoins are a way to value and exchange attention merchandise in a decentralized way. Using blockchains and automated market makers, anyone can trade on people's attention and enthusiasm.
Remember when Joe Rogan got in hot water earlier this year over comments he made on his popular podcast The Joe Rogan Experience? In 24 hours, maybe a dozen Rogan-themed memecoins have been launched, including one, M...
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