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At least one VC feels that the “Just Coin It” strategy of the coinbase is a bad, bad idea.
This week, the coinbase executes JC Pool called The basedrop, which is powered by the Memcoin of the rapper Waka Floka Flame, “The New Creator Economy”. He told based A “onchain record label, where the price for the song returns to the $ Floka.”
Framework Ventures Cofounder Vance Spencer hit back with a takedown, arguing that the “Content Coin” Push “Crypto of the coinbase is destroying the broader health of the industry.”
The idea that everything should be a token horms retail as the retail buyers are losing money on locaps and mems and resulted in separation from crypto, they argued.
The Spencer also adopted the coinbase decisions around his wallet, compared to Farakaster and said that it is “what someone wants or needs.”
The Coinbase recently overhala to include a sleeve of social media -like characteristics in one step, which transforms it into more of the consumer superpost than the Crypto wallet. The overhaled version remains in beta, and has not yet been completely released.
My question is: Are we sure who is really buying “retail”? More likely, yes, in the case of celebrities supported coins. But I suspect that “Just Coin It” also has a lot of crypto-foreign dilemor and builders participating in the trend.
The head of the coinbase and the head of the coinbase wallet replied, uncertainly, by Rejected What is happening for Spencer’s argument and calling crypto.
“Token material is a powerful way to provide market price material and then drive back price to creators and consumers,” Pool Said,
He said, “I think it’s good that a big, famous artist is really done with what can be done with its boundaries.”
Although some other people may be more open to take LS on content coins, Waka Floka has been accused of promoting suspicious tokens, especially in the past, including their Solana Memcoin:
When the wrappers were Asked Last year if his Flattened On Solana, Coin launched a reasonable launch in the light of Zachxbt’s findings that 40% of its supply was already stripped, Flame claimed that “Operation Tech Down Floka” was against him.
Poly Said He has also talked with the rapper and believes that the real name is Juquin James Malife, “confident” to launch a coin by a team that then “rugged”.
Pool said, “Do I want him to see through scammers in the first place and did not make a mistake?”
“But do I think we should blackball a boyana, talented manufacturer and musician, which someone else scammed (…) and instead of giving up, it turned double to find out how to use onchen to do good in our space?”
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