Avalanche Foundation buys memes – is this a good decision?

[MrSpasybo]

They know what they are doing, trust me when I said so. Take a look at what has been happening around Solana for a minute. The chain has been full of meme coins and more are still coming and a these is to revive the lifeless skeleton that FTX  has done on Solana and I feel is the same plans Avalanche is trying to do in other to give rise to Avax price  but it will not work because Solana is Solana and Avalanche is another name.

They didn't even thought of what will happen after because most of these coins that are intentionally pump, they do go down after a while. The funds they want to use to buy back these meme coins should have been added to foundation money and give to builders that are working on Avalanche chain for improvement.

I also thought about this and it would make more sense for the Foundation to spend money on development activities, but we can see the Foundation is still focusing on development with the goal of reaching 100k tps^[1] in Q2 this year. Investing in memecoins can create a positive marketing impact, which is important for all of projects and ecosystems.

I believe that the Foundation has listened and understood the community's concerns on this issue, and this is the best decision they have made after much consideration. Anyway, the AVAX token price has recovered very well, I think we should give the Foundation a chance to decide because it could be good for Avalanche.
[1] Avalanche returns to speed racing: 100K tps

[Fivestar4everMVP]

This is a decision as far as I can understand, we cannot do away with the fact that memecoins contribute greatly to the development, popularity and usability of any Blockchain, I can say for sure that in this season that we are in, memecoins brings in more users and investors to a Blockchain than dapps and other high technologically backed projects, in the end, I think we can all ask ourselves, what is the essence of having really good dapps running on a Blockchain where as there are no users to use them?

For example, I personally wouldn't have had nothing to do with avalanche if not for COQ INU, a meme coin that is built and running on avalanche.
I also would never had had anything to do with Ton Blockchain is not for FISH, a memecoin that is built and running on Ton Blockchain.

So for me, after the rise of ethereum and Binance smart chain, meme coins promote a Blockchain much more than any technologically backed project, so, if avalanche foundation is deciding to invest in meme coins on their ecosystem, it's a really good and a welcomed idea.

[MrSpasybo]

This is a decision as far as I can understand, we cannot do away with the fact that memecoins contribute greatly to the development, popularity and usability of any Blockchain, I can say for sure that in this season that we are in, memecoins brings in more users and investors to a Blockchain than dapps and other high technologically backed projects, in the end, I think we can all ask ourselves, what is the essence of having really good dapps running on a Blockchain where as there are no users to use them?

For example, I personally wouldn't have had nothing to do with avalanche if not for COQ INU, a meme coin that is built and running on avalanche.
I also would never had had anything to do with Ton Blockchain is not for FISH, a memecoin that is built and running on Ton Blockchain.

So for me, after the rise of ethereum and Binance smart chain, meme coins promote a Blockchain much more than any technologically backed project, so, if avalanche foundation is deciding to invest in meme coins on their ecosystem, it's a really good and a welcomed idea.

Memecoins are an important part of the market and every ecosystem, including Avalanche. We have heard of many memecoins on Ethereum, BNB, and Solana, but no memecoin on Avalanche has really caught on in the crypto community yet. This decision by The Avalanche Foundation aims to attract investor attention through a serious investment in memecoins. I hope memecoins will help Avalanche have more users, more Dapps, and more subchains!

Update: 2024.03.16
The Avalanche Foundation selected five meme coins for its initial investment: Coq Inu, Gecko, Kimbo, NoChill, and Tech. These coins are all native to the Avalanche ecosystem, and the Foundation hints at potentially including more in the future.

• Avalanche Foundation Discloses First Batch of Meme Coin Holdings

[Stompix]

The Avalanche Foundation selected five meme coins for its initial investment: Coq Inu, ...

No, just no!
You've lost me at Coq Inu, I mean seriously....
But, why stop there at just the name and not dive deeper, into the coq ecosystem:



I'm starting to think shiba inu growth was the worst thing that happened to altcoins and crypto in general.
Doge managed to break out of this, it has become used, and accepted, it has low fees and a secure chain with a ton of miners, these ones, no, I can't see them other than pump and dumps where you either have to time your entry and exit correctly or like gambling when you buy 100 lotteries tickets but here you buy 100 coins hoping one will do x1000.

[MrSpasybo]

I'm starting to think shiba inu growth was the worst thing that happened to altcoins and crypto in general.
Doge managed to break out of this, it has become used, and accepted, it has low fees and a secure chain with a ton of miners, these ones, no, I can't see them other than pump and dumps where you either have to time your entry and exit correctly or like gambling when you buy 100 lotteries tickets but here you buy 100 coins hoping one will do x1000.

I don't hate SHIB because there's nothing to hate about it. It appeared and competed with DOGE, it also has a large community, it is adding DeFi and Ethereum Layer-2 solutions. For me, Shiba Inu is an interesting project, it was just a memecoin at first but it has been constantly developing because it knows it can't compete with DOGE in the memecoins sector.

DOGE is still the king of memecoins, I think DOGE can totally be used like BTC at the moment with lower cost and more fun concept. The only thing I don't like is that it has a founder with clear information: Billy Markus and Jackson Palmer, this makes DOGE not really "independent" like BTC.

[Stompix]

It appeared and competed with DOGE, it also has a large community, it is adding DeFi and Ethereum Layer-2 solutions.

Neah, from the start Shiba is a token on eth, Doge has its own standalone chain, and there will never be a competition between these two,one has limitations imposed by its chain the other is free as a ...bird!

DOGE is still the king of memecoins, I think DOGE can totally be used like BTC at the moment with lower cost and more fun concept. The only thing I don't like is that it has a founder with clear information: Billy Markus and Jackson Palmer, this makes DOGE not really "independent" like BTC.

Doge is actually used more than BTC:
https://bitinfocharts.com/comparison/transactions-btc-doge.html#3m
As for its founders, they have already abandoned that, I would be far more concerned by things like ETH or Sol when it comes to centralized decisions based on one guy or a select group of people than whatever influence the founders still have on Doge.

[Crwth]

I don't know what to feel when something like the Avalanche Foundation starts to meddle with memes. It's just complete craziness, you know. It's definitely something that you could build upon if you do the right way but holding the right meme could be appealing to other HODLers and could have exposure as well.

I hope they know what they are doing.

[MrSpasybo]

I don't know what to feel when something like the Avalanche Foundation starts to meddle with memes. It's just complete craziness, you know. It's definitely something that you could build upon if you do the right way but holding the right meme could be appealing to other HODLers and could have exposure as well.

I hope they know what they are doing.

We were once worried about this issue and wanted the fund to be used for more clear and useful purposes, but maybe the Foundation knows what they want and what they will do. Memecoins are becoming a driving force for Solana and Ton to develop, and Avalanche does not want to miss this wave either. Memecoins can attract investors to Avalanche, the transaction fees from memecoins will be burned to increase the scarcity of AVAX tokens, in terms of marketing or tokenomics, memecoins are not necessarily a bad choice for Avalanche.

I hope this decision will help the Avalanche ecosystem develop more in the bullrun and we will soon have a new ATH for the AVAX token price right after the BTC halving.

[Stompix]

We were once worried about this issue and wanted the fund to be used for more clear and useful purposes, but maybe the Foundation knows what they want and what they will do. Memecoins are becoming a driving force for Solana and Ton to develop, and Avalanche does not want to miss this wave either. Memecoins can attract investors to Avalanche, the transaction fees from memecoins will be burned to increase the scarcity of AVAX tokens,

One slight correction here, short-term investors looking for pump-and-dump schemes!
The same short-term investors that when a newer much wow, such meme, great token, wow coin appears will dump their own token to the ground to jump on the other bandwagon and they're left with the liquidity crisis of the century which will need again real money to plug in!

Plus, what I don't like in this whole "foundation" thing is that the foundation is playing with money on the market, it purposely uses funds to raise the price, avalbs is still an American company, they are playing with fire.

[MrSpasybo]

One slight correction here, short-term investors looking for pump-and-dump schemes!
The same short-term investors that when a newer much wow, such meme, great token, wow coin appears will dump their own token to the ground to jump on the other bandwagon and they're left with the liquidity crisis of the century which will need again real money to plug in!

Plus, what I don't like in this whole "foundation" thing is that the foundation is playing with money on the market, it purposely uses funds to raise the price, avalbs is still an American company, they are playing with fire.

The Avalanche Foundation knows what Avalanche investors and users want and are easily attracted to, and choosing Memecoins is a wise choice.

I hope they also know what they are doing and are safe from accusations of market manipulation for profit. Clear criteria for the selected memecoins and a statement of purpose to support the ecosystem development can help them get away with dangerous accusations. Currently, we also see many Foundations actively supporting memecoins such as Ton or Arbitrum, I hope everything will be fine with Avalanche Foundation as well 

[erus]

As far as I know, in every parent coin there is always a Meme coin, such as from the Ethereum chain, BSC, Solana has a Meme coin but I've only just heard about Avalanche.
If you read from OP post, it seems that Avalanche is also good for having the goal of buying Meme coins or creating Meme coins because the Avalanche coin ecosystem also definitely needs Meme coins for entertainment. This is only my opinion,thank you.

[MrSpasybo]

As far as I know, in every parent coin there is always a Meme coin, such as from the Ethereum chain, BSC, Solana has a Meme coin but I've only just heard about Avalanche.
If you read from OP post, it seems that Avalanche is also good for having the goal of buying Meme coins or creating Meme coins because the Avalanche coin ecosystem also definitely needs Meme coins for entertainment. This is only my opinion,thank you.

As presented by the Avalanche Foundation, the effort to support memecoins can bring many positive values to the Avalanche ecosystem in the future, such as attracting users, increasing trading volume and popularity of Avalanche, creating a meme-culture in the ecosystem... We can consider the investment in memecoins as the cost of advertising and helping Avalanche reach potential investors in this market.

I am not a fan of memecoins, I do not have any memecoins on Avalanche, but I like memecoins because their huge trading volume will generate more gas fees, more AVAX will be burned and AVAX token price on the market will be supported to reach ATH in this cycle.