The War For Mindshare

Memecoins are presented as attention markets, a mix of prediction markets and attention networks in which the main thing captured is financialized mindshare, the level of attention a token receives. The article says memecoins bundle distribution and product into one, so pumping a token to capture attention is a financial bet, and that value flows where attention goes. It also argues that attention networks have grown asocial, since "capital is what matters as attention follows capital," and that memecoins are the first onchain asocial product-market fit. The article states that few memes have staying power and that rugs are a feature, not a bug.