The post WOMIO’s Utility-Driven Thesis Is Forcing Projects to Up their Meme Game appeared on BitcoinEthereumNews.com.

Memecoins have always been dumb since the dawn of time. Okay, since 2013 when Doge came onto the scene which is an aeon in crypto history. They meme, therefore they are, and that’s about all they do. At least so the thinking went – and so it stayed for well over a decade. So why, all of a sudden, are memecoin projects rethinking a strategy that’s served the industry for over a decade?The answer can be summarized in a single abbreviation: WOMIO. Its vision of reimagining memecoins with genuine utility built in has found what VCs like to call “product market fit.” WOMIO may not be the first project to attempt this feat, but in 2024, the year of memecoin saturation, it feels radical. Yet already there are signs that WOMIO’s utility-driven memecoin thesis is prompting other projects to follow suit. Making a Memecoin The beautiful thing about memecoins is that anyone can create one. The downside is that anyone can create one. And therein lies the rub. In a year in which memecoins have begun operating like self-replicating organisms, creating copies of copies of copies, it’s become increasingly hard for the genuinely good projects to stand out. Which is one reason why WOMIO has gone down the utility route of trying to program actual use cases into its own token. But it’s not the only reason. Because WOMIO has a broader goal: it’s on a mission to incentivize other memecoins projects to follow suit. How exactly? We’ll get to that. First, let’s walk things back a little and address what exactly WOMIO does that differentiates it from your average memecoin. In addition to serving its primary role as a memecoin, WOMIO powers the token launchpad of the same name. And it’s here that its utility comes into play. At…

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Filed under: News - @ September 14, 2024 3:10 am