Research Summary
The report discusses the concept of Memetic Backed Value (MBV) in the context of the crypto community, with a focus on the anticipated crypto protocol launch of Monad. It explores the role of memes in shaping internet culture and their potential to influence the value of crypto projects. The report also highlights the importance of community in the crypto space and how it can be leveraged to create value.
Key Takeaways
The Role of Community in Crypto
- Community as a Value Driver: The report emphasizes the importance of a strong community in the crypto space. It suggests that the strength of a community cannot be measured by the number of followers or members alone, but by the quality of interactions and shared beliefs.
- Community is the Product: The report highlights Monad’s approach to community building, where the community itself is seen as the product. This approach values the relationships, network, and entertainment that the community provides.
The Power of Memes
- Memes as Cultural Indicators: The report underscores the significance of memes in internet culture and their potential to influence everyday culture. It suggests that memes are the fastest way to put an idea in someone’s head.
- Memes in Crypto: The report notes that memes are not new to the crypto space, with many coins being launched as meme coins. However, it differentiates between pure meme coins and Memetic Backed Value (MBV), where an existing meme is repurposed to fit the community.
Monad’s Approach to MBV
- Adaptability and Human Effort: The report highlights Monad’s approach to MBV, which involves taking an existing meme (Purple Pepe) and repurposing it to fit the community. This approach is seen as a way to create value and foster a sense of exploration and brotherhood within the community.
- Future Plans: The report hints at Monad’s future plans, suggesting that community members should be active on the Monad discord server to be eligible for future benefits.
Actionable Insights
- Explore the Potential of MBV: Given the influence of memes in internet culture and their potential to shape the value of crypto projects, it may be beneficial to explore the concept of Memetic Backed Value (MBV) further.
- Consider the Role of Community: The report highlights the importance of community in the crypto space. Therefore, it may be worthwhile to consider how to build and nurture a strong community when launching or investing in a crypto project.
- Understand the Importance of Adaptability: The report suggests that the ability to adapt and repurpose existing memes to fit the community is a key factor in creating value. This insight could be useful when considering how to leverage memes in the crypto space.
