Creator tokens will become the most robust and powerful attention currency ever invented in the history of human civilization.
Written by: Primitive Astronaut
Translated by: AididiaoJP, Foresight News
The meme track in crypto Twitter has gradually declined, with people in the trenches painfully fighting over the last crumbs.
As @notthreadguy likes to say in his live streams, this is a "bearish casino."
From any indicator, the meme track is not in a bull market.
But all major coins are close to or have exceeded their all-time highs (ATH).
In fact, the total market capitalization of the crypto market is also at an all-time high, with unprecedented realized value and capital inflow.
Funds are locked in ETFs, CEX (centralized exchanges), treasury companies, and more.
Saylor, Tom Lee, Robinhood, Stripes, and even the SEC are the ones pushing the trends. But this time, not all tracks are rising with the tide.
The funds in the meme track are nearly exhausted.
As you should know by now, the mindset of P is one of the best contrarian trading signals.
"Retail investors will never come back," @Cupseyy said while watching a $600,000 shitcoin go to zero, even he couldn't identify it as a bundled trade with his expertise.
But that is an illusion; summer is coming to an end, and retail is coming back, just in another track.
Attention is the best representation of capital today, which should be common sense, especially in our industry.
However, I want to remind you that it all started with memes.
BTC is the genesis meme coin. Without those "HODL" and "Gold 2.0" memes, we wouldn't have the status we have today.
Later came "hyperbitcoinization" and "decentralized finance."
If it weren't for those memes, or in other words, because of a shared belief, we wouldn't even believe in the narratives of "hedging inflation" or "store of value."
All prophecies are self-fulfilling.
Shared beliefs initially stem from a few contrarian and vocal viewpoints until they are recognized and accepted by more and more people, forming a large community.
Then these communities claim ownership of the narrative and reshape and refine it to make it their own.
I use Murad as an example here because everyone knows his name now. Not only because he is one of the most outstanding narrative builders of 2024, but also because he has gone viral on CT twice.
It was a very different time, but the same protagonist journey. After that podcast with @APompliano on "The Ultimate Bitcoin Debate," everyone on CT knew him. Especially that legendary excerpt went viral.
What really happened at that time was that he didn't say anything more updated or contrarian than what Bitcoin extremists had already spread in their small circles.
He simply wove all the narratives and memes together in an hour-long podcast. And with excellent speaking skills, he enlightened the average listener.
So much so that it became learning material for everyone entering the crypto space and a reference for the narrative OGs.
He turned a group of newcomers into professional promoters.
Creator tokens will become the most robust and powerful attention currency ever invented in the history of human civilization.
This is where I want to guide you to understand.
Narratives, beliefs, and fervent worship can all merge into one figure, one single token.
These beliefs and fervent worship can exist in thousands of subcultures.
You choose the best ones, or just those that resonate with you the most. Your social and quasi-social circles will influence your perception.
And when a person enters an unknown field, like CT and the crypto market, they will seek guidance from the faces they are most familiar with: their favorite influencers.
Each of their creator tokens will become the best on-chain guiding tool. Greedy holders and hard workers will push these tokens to unimaginable heights.
They will be the DOGE and PEPE of this cycle.
Better revenue sharing than any Web2 profit model.
The revenue-sharing model also includes the audience, unheard of on Web2 platforms.
It will first attract small creators willing to take risks, then the flywheel effect will drive larger creators.
Creator tokens, while still far from their final form, are a better entry point for newcomers than meme coins.
Those who successfully concoct the "secret formula" will reap huge rewards, educating their audience, who in turn will spread the word. They will tell their friends that they made a lot of money by owning a piece of their favorite influencer's brand and also received additional revenue sharing.
New Channels of Communication
CT chooses to ignore what @pumpdotfun and @a1lon9 are building. But see for yourself if you can determine the direction of it all.
Uncertain whether the upcoming things have been discussed on CT at all.
As early as July 24, in an interview with Threadguy, Alon mentioned that he hopes Pumpfun will become a social hub and compete with Web2 streaming platforms.
Everything about this is still pending completion, but everything is falling into place.
There are many hints in Alon's replies.
If you search Twitter, you will see many posts mentioning rumors about the Pumpfun announcement, reportedly targeting the revenue-sharing model, especially creator tokens.
Specific details about the sharing should be announced in the coming days, preparing for the fourth quarter.
Clearly, it may develop to share transaction fees with creator token holders, and the answer seems to be revealed soon.
Coinbase's Layout
@base and @coinbase are also working on this front, and Zora's super rebound is evident, expected to rise even higher in the coming months, as they have Coinbase's support and are promoted by @brian_armstrong.
In addition, Coinbase CEX has opened an entry point to directly purchase any tokens on the Base chain within the app.
This directly addresses the issue of "institutions won't buy our coins." A rotation will happen sooner or later, and Wall Street loves to pay content creators.
The Base app will begin to exit the closed testing phase through invitations in the next two weeks, as @jessepollak mentioned yesterday in the AMA at @onchainsf.
In short, Pumpfun and Base are quietly competing to become the first app people open every morning, even aiming to replace Web2 apps.
And creator tokens bring all the necessary ingredients and incentives for the success of this vision.
Positions
Of course, rug pulls won't disappear, nor will they be solved by creator tokens. This situation will continue to occur:
The solution is simple: only choose creators who have proven non-rug records.
Do not buy into the hype and launch projects on the first day.
Look for creators who are genuinely committed to building the game, even if their tokens drop 90%, they still persist.
Most will be rugs; that's how the game is played today, even including founders supported by venture capital funds.
Only a very few who show a pure love for content polishing in Web2 and are willing to connect with the crypto-native community will achieve great success.
On the Pumpfun side, there are some respectable individuals trying to go mainstream as crypto natives, such as @rasmr_eth; @gainzy222; @SolJakey, etc.
But what we lack is the right, well-known Web2 faces integrating into CT culture.
Enter @diddyboplive.
This kid launched without anyone's help; he is a well-known TikTok blogger with 1.5 million followers on one account and 650,000 on another. He is also one of the few creators with less than 10% of his token supply fully in circulation.
He has gone on-chain without intermediaries owning his entire supply and is still building daily on X and Pumpfun.
He could have started streaming on Twitch, but he chose Pumpfun to gain a first-mover advantage, which is an incentivized bet on the platform's success.
No one has seen the value of Pumpfun's streamer tokens yet, but that will change once Pumpfun makes an announcement and starts heavily promoting creator tokens.
They have no choice but to pump them hard, making them attractive to the public and other creators. Not to mention the competition they are in with Base and Zora.
No one saw the value of a TikTok Gen Z landing on CT, but that changed yesterday.
He was noticed by that fervent admirer.
The SPX6900 enthusiast has been trying to grow on TikTok for the past few months.
Have you heard of Web2 brands paying such a high premium to get the biggest creators as advertisers? What happens when Web3 brands enter the game?
A very few Web2 creators who can become proper bridges between Web2 and Web3, merging the two cultures and doing so not just for quick money, will achieve great success.
You are seeing early signs of this development through threadguy & phantom, @0xBreadguy & MegaETH, @beast_ico & @ProofOfPlay.
But these guys are still crypto-native.
When Diddybop started making his first SPX6900 post, I foresaw that his $DIDDYBOP token would be significantly repriced.
Creator tokens as a use case for attention currency.
The younger generation has historically led trends.
Murad is right; people love to joke. But there is indeed a non-zero possibility that SPX could truly become the Bitcoin of Gen Z.
Most importantly, I foresee the entire creator category being significantly repriced and starting a major race to transform successful Web2 creators into crypto-native creators.
Other potentially larger creators will emerge. But in this regard, Diddy has a significant first-mover advantage: he has proven himself to be persistent in creation for a long enough time.
Many tokens and projects want to become the Bitcoin of Gen Z.
They will be the ones to reclaim CT.
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