During the Emerging Trends in Consumer web3 Apps panel at Token2049 in Dubai, speakers discussed the growing trend of meme coins in consumer web3 applications. Imran Khan from AllianceDAO highlighted the rise of attention tokenization in the blockchain industry, with meme coins playing a significant role in this development. Many projects are leveraging memes to engage with their audience and incentivize users based on their interests.

Tristan Yver, founder of Backpack, emphasized the increasing focus on meme coins in the crypto industry. Meme coins are becoming a popular choice for new user onboarding, attracting attention and participation in the market. Investor Santiago Roel Santos echoed this sentiment, recognizing the power of meme coins despite their short lifespan.

While some panelists debated the importance of meme coins in consumer web3 applications, all agreed on their significant impact on the cryptocurrency industry. Meme coins have been setting records, outperforming other sectors in the crypto market. According to a CoinGecko report, meme coins delivered an average return of 1,313% across the top ten tokens in the first quarter of 2024.

Compared to real-world assets and AI-based tokens, meme coins have maintained their profitability and showcased the dynamic and speculative nature of the current cryptocurrency market. As meme coins continue to make waves, they are reshaping digital marketing strategies and reshaping the landscape of the cryptocurrency industry.

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