VanEck portfolio manager says crypto projects should emulate key memecoin traits
VanEck portfolio manager Pranav Kanade highlighted that memecoins have four key aspects that all teams building in crypto should mimic.
Kanade made the comments on social media in response to the Token2049 panel by Murad Mahmudov on his pivot to memecoins from being a Bitcoin maxi. The panel’s thesis revolved around proposing a “memecoin supercycle” which made it go viral among the crypto community.
Kanade said that memecoins have a clear product-market fit with retail, and the first reason behind it is their simplicity. He added:
“Many teams over-engineer their token, failing to realize: Time + capital + attention = scarce”
He highlighted that over 600,000 tokens were launched in 2023, which has increased the competition for…
