The Rise and Challenges of Meme Coin in the Virtual Ecosystem

Recently, Virtual's Genesis Launches platform has reached a new turning point. Although there have been some low-quality projects on the platform, the direct issuance of meme coins is not common. However, this situation has changed recently.

A well-known AI agent has created and issued the meme coin VIRGEN, attracting widespread attention. The uniqueness of this project lies in the fact that it is a publicly issued meme coin by a renowned team. Although positioned as a meme coin, its issuance mechanism demonstrates a friendly attitude towards the community: in addition to the presale and liquidity allocation, airdrops are also provided for staked users in the ecosystem and certain holders of classic meme coins.

Another notable feature of VIRGEN is the absence of a lock-up period, which means participants can profit immediately after the launch. Although there were concerns that this might lead to a price crash, it has been proven that these worries were unfounded. After the launch, VIRGEN not only did not crash but continued to rise. The team has also strengthened its position in the Virtual ecosystem through additional airdrops and market buybacks.

Following VIRGEN, another meme coin called NOTHING has also emerged. This project is not just a simple meme coin, but also offers a unique feature: by permanently locking tokens, holders can continuously earn points by participating in the platform's sales. The successful issuance of NOTHING and additional airdrops once again exceeded market expectations.

The success of these two meme coin projects is largely attributed to their generous mechanism design and the integrity of the teams behind them. However, this successful model is difficult to replicate and sustain.

With the emergence of these successful cases, a number of projects of varying quality have started to appear on the platform. This has raised concerns about the future direction of the platform: will it become another pump.fun?

In the face of this situation, the simplest solution is for the platform to intervene directly and impose additional constraints to limit low-quality projects. However, this approach may overly restrict the vitality of the platform. A more ideal method is to maintain the openness of the platform while allowing market mechanisms to naturally eliminate inferior projects.

The key lies in cultivating a batch of high-quality participants who can reject bad projects through their own actions. In fact, after VIRGEN and NOTHING, several uninspired meme coin projects did emerge. Although the first one was successfully issued, its price quickly fell after going live. The subsequent projects were directly ignored by the market.

This market response is gratifying and shows that the Virtual ecosystem is forming a positive self-regulating mechanism. I hope this healthy ecological atmosphere can continue, making Virtual a platform that is completely different from pump.fun, bringing more positive impacts to the cryptocurrency market.