Meme coins

Are NFTs and Meme coins taking away the essence of crypto?

  • The crypto industry has a conflict where some believe that the trends of Meme Coins and NFTs are aiding the industry while others contradict.
  • Critics say that the increasing trend of Meme Coins and NFTs is distracting the industry from the main purpose of building long-term projects and revolutionizing important industries. 
  • Supporters say that they are not distractions but rather innovative experiments and are influencing everyone to be a part of the crypto market

Introduction Meme Coins

 Before jumping to any conclusions, we first need to analyse the facts and consider the perspective of critics and supporters. Taking a close look at the impact Meme coins or NFTs have on the crypto market will eventually decide if they are beneficial or not.

Meme coins and NFTs are at their peak. Some people say that they pose a severe threat to the cryptocurrency industry. Investors often buy these crypto assets without fully knowing their values in order to get rich fast. This mentality is distracting innovators from the main goal of this technology and its long-term impacts. 

Meme Coin Craze

Meme coins like Dogecoin, Shiba Inu and many other’s popularity is shooting up. Such coins are inspired by the trends of social media and have been in the limelight for investors and media. Supporters of meme coins argue that such coins help the crypto market grow and tap the untapped market influencing every person to invest in crypto. 

However, people on the other hand are worried that when the bubbles of these volatile assets burst. It could destabilize the whole industry and rust the reputation of the industry. For example, the sudden rise and death of the Squid Game Token have clearly demonstrated the dangers associated with investing in such volatile assets. 

NFTs ( Non-Fungible Tokens) Boom

The NFTs craze boomed in 2021. People from every profession are creating and selling their NFTs and buying as well. Artists, Musicians, Actors and collectors as well embraced this unique trend and got away with the flow. Some people earning millions overnight have attracted the masses to invest in NFTs. 

However, it is argued that NFTs’ exorbitant growth is unstable. The sudden downfall in demand will not only harm NFTs but also destroy the crypto ecosystem. Some recent incidents highlight the need for a robust legal framework in the space. 

The two sides of a Coin

Critics claim that the unexpected enthusiasm around Meme coins and NFTs is a distraction from the main goal of the technology. Blockchain was originally built for long-term impact projects. 

The technology is to be used to revolutionize important industries like finance, health care, supply-chain management etc. As the investors chase a quick and large profit, they have forgotten the main goal of technology. 

For example, DeFi projects aim to provide an accessible and transparent financial service while blockchain can provide security and can reduce fraud. This ground purpose of blockchain technology is overshadowed by the craze of Meme coins and NFTs

While the supporters argue that the Meme coins and NFTs are revolutionizing the industry and expanding the interest in digital currencies and showcasing the impact of blockchain. 

According, to them they are not distractions but rather innovative experiments that push the boundary of the crypto industry. 


The crypto industry is divided into two parts as the Meme coins and NFTs continue to make headlines. The challenge is to try innovative experiments without losing the essence or the main purpose of that technology. You cannot stop the projects it was originally built for, for the sake of experiments or quick profit. Striking the right balance will be the key to success. 

The experts in the industry must look at all the facts carefully and take the necessary decisions in order to ensure that the industry does not collapse in future. If taken the industry will continue to shine and grow.



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