Global crypto exchange LBank hosted the seventh edition of its Twitter Space “New Narratives”, where prominent figures from the blockchain industry share their insights. This time, the guests delved into topics ranging from the historical significance of meme coins to the risks associated with investing in them. More than 18,000 crypto enthusiasts tuned in during the Twitter Space.
Participants of the Twitter Space included ‘Pip’, Partnerships Manager at Gempad, ‘Nnova’, Social Media Manager at Saito Network, Jared Vergilis, CEO and Co-Founder of Two Lands, ‘Aerdrop’, Founder of x² Ventures, Maurice, Head of VC Services at CaesarsCalls Crypto Lounge, Aidan Neil, Co-Founder of Ladder Labs, and Jefferson Salvador, Co-Founder of JMC Ventures.
‘Pip’ kicked off the conversation by highlighting the correlation between the rise of meme coin Dogecoin (DOGE) and the beginning of previous bull runs. However, the Gempad Partnerships Manager expressed some doubts about the rationale behind investing in meme coins. “Investing in meme coins can be confusing since they lack real utility and are primarily driven by psychological factors and follow the sentiment of the masses,” they said.
‘Nnova’ acknowledged the popular fascination around meme coins and their historical significance as a means of conveying critical ideas. They also warned investors about the risks involved and suggested that meme coins should be approached with caution. “Meme coins have become like a digital casino, where investors often lose money due to a lack of understanding,” they said. The Social Media Manager of Saito Network further prophesied the potential of digital token Pepe (PEPE) to become the next influential meme coin due to its strong community and backing from influential figures.
Similarly to ‘Nnova’, Jared Vergilis also likened investing in meme coins to gambling, emphasizing the inherent risks. Nevertheless, Jared believed that meme coins will continue to have a place in the crypto space due to their appeal to human psychology and the fun factor.
However, ‘Aerdrop’ argued that meme coins incorporate actual utility and provide value to users. “Combining a passionate meme community with utility can create something groundbreaking in the meme coin space,” they said.
Furthermore, Maurice from CaesarsCalls Crypto Lounge also discussed an incident involving the infamous crypto influencer Bit Boy, highlighting the fast-paced and unpredictable nature of the meme coin space. “There has often been a misdirection of the narrative surrounding meme coins”, he claims.
Aidan Neil, Co-Founder of Ladder Labs, echoed the sentiment that narratives surrounding cryptocurrencies in traditional media often villainize them. “Meme token experiences are often skewed, with only a few people making money, but they can still be enjoyable and exciting for those in it for fun”, Neil said.
Finally, Jefferson Salvador of JMC Ventures shared his views on the future possibilities of digital currencies, highlighting the potential for increased transparency of finances. “Being smart enough to see through the hype surrounding cryptocurrencies is important for understanding future possibilities”, he concluded.
LBank is preparing the next “Exploring New Narratives for 2023” Twitter Space. If you are interested in participating, don’t hesitate to contact us.
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Disclaimer: This is a paid post and should not be treated as news/advice.
