meme. I think more than anything else, the esoteric concept of meme investing symbolizes that we’re really living in a simulation.
Who can forget January 2021, when a bunch of Redditors, along with Wall Street, are pushing GameStop’s share price to hardly credible levels? What about Dogecoin, a cryptocurrency created as a joke, only to be adopted by the world’s richest man and reach a market cap close to $90 billion?
i made a dog in 2 hours i didn’t think of anything
— Shibetoshi Nakamoto (@bilm2k) 13 May 2021
hokkaido inu
Hokkaido Inu was one of several memes that rode on the coattails of Dogecoin’s success. After a mouth-watering $800 million in market cap, it was abandoned by the founders and crashed down 99%. Bull market hysteria, huh?
Today, however, it is rediscovering itself as a DeFi player “powered by memes”. Whatever you think of the memes, they are certainly interesting. Of course, there is a dark side, with innocent retail investors sometimes used as exit liquidity in what amounts to a pump-and-dump scheme by the creators. The whole point of regulation is – what should be allowed?
But there are also interesting network effects, as a community of thousands – no, millions – is very valuable, no matter which way you swing at it. So, how can one turn this community and this branding into a legitimate business? That’s what HOKK Finance is trying to answer, hoping to get out of the ashes of the Hokkaido Inu meme coin.
Podcast with Mark Bassa
Mark Bassa has been in crypto since 2011, working on a whole host of different projects and areas. He has moved around the space and one of his focuses today is HOKK, where he basically works as director after joining the project after being just another buyer.
I sat down with Mark on the latest episode of the CoinJournal podcast to discuss all things dark sides, scandals, excitement, network influence, regulation, why they’re worth anything, and more.
This one was different, and it was fun. Hey, it’s all a simulation anyway.
spotify link -> here