Tokens Drive Innovation

The article argues that memecoins, particularly those built within the Farcaster ecosystem, are moving beyond speculation toward community and utility, which it presents as a first token-market-fit defined by attention, utility and retention. It says ICOs were a major early wave in which 90% of projects became worthless, and that NFTs were valued for ownership even after sales declined. It points to DEGEN, a Farcaster memecoin used for tipping, with $DEGEN cast 124,127 times across 726 channels. The piece also cites memecoins with a market cap over $54 billion and presents Higher, a lifestyle brand built collectively with the $Higher token, as an example of scenecoins.