Pudgy Penguins NFT CEO: Social token form is the future of Memecoin

The article focuses on the rise of the Meme coin and its potential and limitations. According to the authors, although Meme Coin is a unique vehicle for the mechanism of cryptocurrency speculation, its development is limited by the shortcomings of lack of innovation, stagnation and pure reliance on hype. The article proposes that Meme coin should evolve into a "social currency" to promote the development of the crypto industry, social currency is an evolutionary form of Meme coin, its success depends on execution rather than luck, and may eventually lead to a new change in the crypto field. This article originated from LucaNetz, CEO of Pudgy Penguins NFT, and was compiled, compiled and written by Block Beats. (Synopsis: He committed suicide by raising a gun because of the live broadcast of Meme coin, but Meme Coin paid for his funeral expenses) (Background supplement: Binance He Yi released the "Meme Coin Learning Handbook" to reveal the secret investment method: Meme attention into beliefs and products to have the next DOGE) The cryptocurrency market over the past 18 months has been a roller coaster, and in this chaos, we have witnessed the rise of Meme coins. While Meme coins are not new — in fact, they are one of the oldest forms of cryptocurrency — they have once again proven themselves to be the vehicle of choice for participating in the most unique mechanisms of cryptocurrencies (speculation). Although Meme coins are pure and almost artistic in nature, they also have a dark side. No, the problem isn't insiders or small groups — it's a common problem plaguing the entire cryptocurrency space. In my opinion, the real problem lies in a lack of effort, a failure to grasp the timing, and people are resting on their laurels to build Meme coins. Maybe I'm naïve, but my refusal to accept Meme coins stops there — at least I hope not. I am convinced that the Trojan horse for the popularity of cryptocurrencies is intellectual property (IP) because it builds credibility in areas that lack a trust ladder, and Meme coins, like NFTs, are a form of IP. Meme Coin has a huge opportunity to advance the crypto industry by penetrating into the minds of ordinary people. However, instead of pushing the boundaries of the potential of crypto-native characters, they are stagnant, unoriginal, and banal on the path to transcendence. I fear that if the status quo is maintained, they will do more harm than good. For this category to thrive, Meme coins must evolve, and I firmly believe that evolution is the way to become a social currency – a token that will move beyond lazy slamming to a scalable suite, memorable, and much-loved IP. My proposition is not to replace Meme Coin with a social currency, but to add a final stage to its growth roadmap. Meme coins must graduate from the image of meaninglessness on the chain and evolve into a productive and sentient social currency that can drive the crypto industry. I think existing tokens fall into this category. This article will explore the current state of Meme coins, why successful projects should evolve into social currencies, and the impact of social currencies on the crypto space. First of all, what is social currency? Social currencies are tokenized assets that represent value within a specific community, often used to incentivize engagement, reward contributions, and strengthen brand or community loyalty. It operates like traditional money, but its value stems from social interaction, reputation and influence. In layman's terms, social money is a fundamental Meme coin — it's progressive, sentient, and focused on nurturing communities that can sustainably create viral effects, rather than squeezing value out of ephemeral hype. Meme coins vs social currencies Meme coins don't create viral effects — they monetize them and squeeze out the heat until it subsides. Social currencies, on the other hand, have the power to actively promote their IP through multiple media, collaborations, and integrations, and continue to generate viral effects. Typical life cycle of Meme coins: Creative → token issuance→ community nurturing→ community embracing narrative→ narrative dying→ community dying Life cycle of social currency: Creative → token issuance→ community cultivation→ community embracing narrative→ brand building→ brand expansion→ ecological construction→ global adoption and recognition currency In my opinion, all social currencies were originally Meme coins, but as potential energy accumulates, they must evolve into social currencies. The following diagram accurately illustrates this process. I love this graph because it shows that social currencies are not meant to replace Meme coins, but evolve into their evolutionary form. For me, social currencies are Meme coins backed by real value. Anyone can issue Meme coins, but only the best can inject real value into them. If you believe that liquid crypto assets will primarily belong to the retail asset class, then you believe in Meme Coin and its success. If you think that institutional capital will eventually flow into altcoins, then you have to expect fundamentals to lead. Social currencies offer both the retail appeal of Meme coins and the fun to attract institutional participation. In my opinion, social currency combines the best of Meme Coin and utility tokens. When dissecting the flaws of Meme coins, it is clear that they could have had more potential, but we allowed the social consensus to convince ourselves that "Meme coins should do nothing, as it has always been". I personally refuse to accept this as the future norm in this field. To understand my frustrations, I need to dismantle the factors that currently constrain Meme coins and how social currencies can resolve them. Shortcomings of Meme Coin Stagnation: Loss of momentum when the trend subsides Stigma: 99% Speculators lose money, non-long-term holding of the target PvP model: designed for short-term flow rate, reduced to a chair-grabbing game for existing users Lack of infrastructure to attract new users No real faith support other than illusory narratives – no fundamentals Success often depends on fantasy and luck Advantages of Social Currency Perception: the ability to both create trends and catch them, maintaining continuous relevance New Narrative: Meme The sustainability of the coin and the real fundamentals that support growth are suitable for long-term holding PvE model: aims to promote the development of the crypto industry and attract new users Continue to create demand through content initiatives, brand partnerships, and IP growth Build real things that transcend the industry and enhance holders' identity and beliefs – There is a true belief foundation Success does not depend on luck or narrative, but is supported by real fundamentals Perception vs no perception For traders and investors, the core difference between Meme coins and social currencies is perception — The ability to stay relevant on an ongoing basis. Social currencies have perception while Meme coins do not, which is the key for traders to focus on. Perception = Correlation = Attention = Potential Energy. Unless you're a crypto legend like DOGE, anything insensitive will eventually die. Reading this, some people may think: "I don't want Meme Coin to take any execution risk". This psychological warfare began with NFT art collectors in 2020, and I was surprised that we continued this narrative. My rebuttal is simple: things without execution risk rely entirely on luck. Execution risk is the only risk worth taking, and if your position does not rely on execution, I can say with absolute certainty that in 999,999/1 million cases, you will outperform the person who bet on execution (although I still wish you good luck). The Future of Social Currency To realize its true potential, Meme Coin needs to be promoted to social currency in the final chapter of its evolution. Those tokens that create culture, foster deep community bonds, and incorporate real-world applications will define the new era of crypto. Moving from stagnant speculative assets to dynamically engaged ecosystems is not only necessary...