Cointelegraph approached professionals across Web3 to get their thoughts on the emergence of celebrity-backed meme tokens in crypto.
As the cryptocurrency market seeks a new narrative to drive growth, celebrity-backed token projects have emerged, sparking a trend that has elicited mixed reactions from seasoned crypto enthusiasts regarding this new wave of memecoins.
While some argue that celebrity tokens can attract new users to crypto, others believe their speculative nature could mislead consumers about blockchain’s true value.
Those who argue for celebrity tokens see them as an effective on-ramp into cryptocurrency. Solo Ceesay, co-founder and CEO of social wallet Calaxy, believes these tokens can make crypto more accessible to more people. Ceesay said:
