The Rise of Meme Coins in the Virtual Ecosystem and the Evolution of Market Mechanisms

Recently, some eye-catching meme coin projects have appeared on the Genesis Launches platform launched by Virtual, breaking the previously serious atmosphere of projects on the platform. Among them, the most notable is the meme coin VIRGEN issued by the well-known AI Agent Vader.

The special feature of VIRGEN is that it is a well-known team publicly issued meme coin. Although it is positioned as a meme coin, its issuance mechanism shows a friendly attitude towards the community. In addition to the presale and liquidity parts, it also provides airdrops for staking users in the Virtual ecosystem and some holders of classic meme coins.

Unlike other presale tokens, VIRGEN has no lock-up period, meaning that participants can trade and profit immediately after the token is listed. Although there were concerns about a crash, these concerns have proven to be unnecessary. Not only did the token not crash after being listed, but it also continued to rise.

The team's follow-up actions further solidified the position of VIRGEN. They not only completed the promised airdrop but also conducted additional airdrops for pre-sale participants who did not sell their tokens, and continuously used profits to buy back tokens. This series of operations has made VIRGEN the leading meme coin in the Virtual ecosystem.

Following closely, another meme coin called NOTHING has also made its debut. It is not just a simple meme coin; it also has practical uses: by permanently locking tokens, it allows stakers to continuously earn points for participating in platform sales. The successful launch of NOTHING and two additional airdrops exceeded market expectations.

The success of these two meme coins is partly due to their generous mechanism design and partly thanks to the sincerity and actions of the team behind them, which stands in stark contrast to most meme coins that are primarily profit-driven.

However, this successful model is difficult to replicate, and such high-quality teams are scarce. Therefore, Genesis Launches, as a permissionless launch platform, may attract projects of varying quality, potentially threatening the ecological atmosphere.

In the face of this situation, the ideal solution is to maintain the openness of the platform while allowing market mechanisms to naturally eliminate poor-quality projects. This requires a group of high-quality participants to consciously act to exclude bad projects.

It has been proven that the market indeed demonstrates this self-cleaning ability. After VIRGEN and NOTHING, several uninspired pure shell meme coin projects attempted to launch, but all faced market indifference. The first one was successfully sold, but its price plummeted after going live; the subsequent projects were directly marginalized by the market.

This market reaction is encouraging, indicating that the Virtual ecosystem is forming a unique culture and atmosphere, which is expected to become a strong moat for the platform. If this trend can continue, Virtual is expected to develop into a platform that is entirely different from pump.fun, bringing more value and innovation to the cryptocurrency ecosystem.