Meme coin: A new marketing tool and community adhesive for Web3 creators

Meme coin is迎来其黄金时期. In fact, what we have seen in the past four years in the field of Crypto Assets is merely the same concept manifested in different new media, such as social Tokens, NFT, or Meme coins. Their commonality lies in the ability to financialize shared ideas, assets, or information. Participating in these markets means engaging in the next continuously creating, disseminating, and evolving "elements".

The current status of Meme coins is controversial, as their culture promotes mechanisms similar to gambling. However, mimicking online behavior is a widely popular form of entertainment on the internet. A closer observation reveals that this may evolve into a deeper form of interaction between creators and users in terms of engagement, ownership, and monetization.

User-generated content is a native form of currency on the internet. This type of content, such as memes, is primarily published and disseminated on social media platforms. The emergence of crypto assets has taken it a step further. User-generated assets are published and spread on digital native exchanges, becoming a new form of publication. Memes are another way to attract attention and a means of dissemination on Web3 platforms.

Although still in its early stages, a toolkit aimed at Web3 creators is taking shape. For example, mechanisms such as points and airdrops reward the use of the protocol. There is still much room for improvement in airdrop design, such as restrictions on whitelists and release mechanisms, which could lead to more specific reward mechanisms. Further growth is driven by existing communities, on-chain referral rewards, and "Token social proof."

Meme coins can also be used to integrate different communities or capture specific moments. For example, a certain community recently launched a Meme coin on a decentralized platform, specifically airdropping it to users who interacted genuinely with the platform and community. This operation allowed them to attract wider attention by leveraging the traffic of the platform.

With on-chain addresses and wallets, this Meme coin can specifically reward deeper engagement behaviors than simple minting. Holders represent a set of unique wallet addresses that, to some extent, demonstrate loyalty and engagement with the relevant platform and community. Although Meme coins may inherently be ephemeral, they are effective tools for gaining attention and marketing.

We will see more and more creators and brands rewarding and attracting users through on-chain mechanisms. The newsletter authors you like may offer referral rewards to some readers. Influencers may airdrop their Meme coins based on the engagement on social channels. Creators can use various tools to acquire users and achieve asset appreciation.

Social consensus and narrative building are crucial in this regard. We have seen that almost all forms of content aggregation happen on the internet. Until now, the crypto community has largely relied on traditional social media platforms to build narratives. However, we also have some examples of on-chain publishing products, including certain protocols and applications built on these protocols.

With these platforms, Meme coins can become part of the product experience. For example, you can comment on posts on a certain platform, and then the wallet address you bind will receive specific Tokens, allowing holders to access certain collectibles or join specific groups. We also see this social behavior appearing in other emerging markets, such as transaction channels in wallets and instant messaging applications. Publishing platforms can use this data to provide users of specific protocols or applications with a seamless experience.