Waves founder Sasha Ivanov calls celeb memecoins an “extractive economy,” predicting they’ll fade away while DeFi comes back: X Hall of Flame
The hype around celebrity memecoins wont last give it a few months, and people will be back to focusing on DeFi and real utility projects, says Wave founder Sasha Ivanov.
This extractive economy cannot be very stable, and its going to be short-lived, so it will last maybe for half a year more, and then we will see something else, he tells Hall of Flame.
Everybodys trying to extract as much money as possible, which is a big problem, Ivanov continues. He believes people will be “very disappointed because very few celebrity memecoins will be successful in the long run.
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