12:05 ▪ 3 min read ▪ Written by Evans S.
Meme coins are lightweight tokens that are often perceived as harmless, but they are very likely to be Web3's Achilles heel. Dan Finlay, co-founder of MetaMask, recently investigated the impact through a bold experiment. His conclusion? Web3 weakened by lack of consent, transparency, and accountability. A reflection that shakes the certainty of the cryptocurrency ecosystem.
Bright fantasy of meme coins
Meme coins play a paradoxical role. Although its upbeat personality draws a crowd, its influence on Web3 is much darker.
MetaMask co-founder Dan Finlay conducted a tricky experiment by launching two meme coins on Ethereum and Solana.
Although satirical, these works revealed deep flaws in Web3 when it comes to consent, trust, and accountability.
From the moment these cryptocurrencies entered circulation, their value was artificially inflated, briefly reaching a high of $100,000. But that euphoria was soon replaced by confusion.
Finlay describes the dynamics in which a lack of structure and clear vision leads investors to impose forced meaning on assets without any real purpose.
This phenomenon reveals not only the limits of the memecoin economic model, but also the limits of the trust that is supposed to support Web3.
More worryingly, Finlay has become the target of threats from disgruntled investors, raising questions about the health of the crypto community.
Is the user's implicit consent, consisting simply of agreeing to “play” these tokens, sufficient to justify such actions?
Web3: Between promise and disillusionment
Meme coins are more than just anecdotes. These represent the existential challenges of Web3. In a space that is expected to be decentralized and fair, a harsher reality emerges: the blurred line between hype and accountability.
Finley draws bold parallels between these dynamics and those of artificial intelligence. Platforms like Bluesky use public data without explicit consent, disrupting social and technological expectations around the concept of consent.
Web3 thus suffers from a clear lack of adequate infrastructure. Finlay says this is not an ethical issue, but that better tools and better incentives are urgently needed.
Precise token management, restricting the market to specific communities, or structuring sales are all means to avoid this impasse.
Finley's experience is more than just a critique, it's a call to action. Like AI, Web3 must evolve to strengthen trust, clarify expectations, and respect user consent. Meme coins may seem like a joke, but they teach important lessons. To prevent Web3 from becoming a digital dump, it's time to rethink its foundations. Meanwhile, Bitcoin is on its way to ATH.
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Evans S.
The appeal of Bitcoin in 2017, creating important documents. This is an essay that invigorates the activities of Avance, the forefront of trading and the center of virtual currency. En tant que redacteur, il aspire à fournir en permanence un travail de haute qualité qui reflète l'état du secteur dans son ensemble.
Disclaimer
The views, ideas and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Please do your own research before making any investment decisions.
