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The secret to successfully decoding Meme coins: The rise of BTC and Bome
The Birth of Meme Wealth: Analyzing the Rise of BTC and Bome
Introduction
Human beings chase trends, and trends create value. This is a phenomenon that has been repeatedly observed throughout human history.
The tulip bubble is essentially a combination of popularity and limited supply, becoming the most famous and one of the earliest super memes in human history. Entering the 21st century, the information age has gone through the infinite replication of Web 2.0 and is now stepping into the era of limited information, Web 3.0.
Information spreads at the speed of light on the Internet, and the entities that carry popular value have transformed from offline luxury goods to non-replicable data online. The popularization of mobile payments has made payment scenarios ubiquitous around the globe. This has given rise to the Meme explosion, forming a bizarre meme world.
In the world of Meme coins, creating internet trends can directly monetize popularity through tokens. So, how do you create a trend? This article will first present the theory of Meme popularity, and then use this theory to analyze the rise of BTC and Bome.
The Secret of Crypto Popularity
The popular nature of information is essentially similar to the spread of diseases. In communication studies, both information dissemination and virus transmission use the SIR model. The process of information dissemination is divided into two parts: information infection and information immunity.
Information Infection: Transforming ordinary people into followers of viral information. Information Immunity: Followers of popular information break free from its influence and become outsiders.
The core of spreading information is: to make the infection rate exceed the immunity rate. As long as the number of infections exceeds the number of immunities in a given time period, the followers of the spreading information will increase, and the information will continue to spread. Conversely, the spread will decline.
How to increase the infection rate and reduce the immunity rate? The more new people come into contact with the information, the higher the infection rate will be. The higher the quality of the information, the greater the stickiness, making it easier to spread and harder to get rid of. Combining communication studies and social psychology, there are four important exogenous factors for a Meme's success:
Four Key Elements
content
Content is information and serves as the main body of communication, determining the attributes of the communication. It dictates the target audience for communication and the preferred communication nodes. For example, certain concepts naturally have an affinity for specific groups, and this affinity often exists over a long period.
The stickiness of content is also very important. Certain concepts are time-sensitive; once the popularity in the real world ends, the popularity of on-chain information may lose momentum.
The affinity of content also includes the ability for secondary transmission. A good dissemination event must lower the barriers to sharing; the simpler and more direct it is, the easier it is for ordinary people to share, and the wider the dissemination will be.
environment
The environment consists of two parts: time and space.
Time: Targeting the unique economic cycle of the crypto space. The outbreak of Memes requires attention in the industry and users willing to participate. The current Meme craze initiated by Mingwen is an important shift, with cultural dissemination becoming the main way to attract traffic.
Space: refers to a community. A community is a group of people with a common purpose. If the content being disseminated aligns with the attributes of the group, it can achieve faster dissemination efficiency.
KOL Matrix
Different individuals have varying abilities to spread trends. Some people are particularly skilled at expressing opinions and convincing others, these individuals are KOLs. The more KOLs there are, the more a KOL matrix can be formed, influencing larger groups. KOLs are closely connected to communities, and only those KOCs who can radiate to the target audience are truly valuable nodes.
wealth effect
The characteristic of the crypto space is that the wealth effect leads attention. "Rising prices compel people" refers to using financial facts to aid information dissemination. Memes exist in a self-reinforcing cycle of price and cultural dissemination. The higher the price rises, the wider the cultural dissemination, and the more steadfast the believers; the lower the price drops, the less favorable the cultural dissemination, and the more detached the believers become. Therefore, meme coins often exhibit the characteristics of soaring and plummeting.
Analysis of Meme Operations
BTC
The core content of BTC is the fear of the collapse of centralized finance. The news summary in the genesis block serves as an anchor, reinforcing this fear with each dissemination. Every financial storm strengthens the consensus around BTC. The stickiness of BTC's consensus is very strong, making it difficult for believers to let go.
BTC adopts fair mining, which is a reciprocal design. Early investment in computing power can earn BTC, and this behavior itself is a recognition of the project. In terms of supply, BTC has a limit of 21 million coins implemented through the program, emphasizing scarcity.
The BTC white paper was released in 2008, during a tumultuous period for centralized finance, with the timing and content narrative being highly aligned. In its early days, BTC chose the crypto community as its seed users, which had a high degree of compatibility with its philosophy.
The early KOL matrix of BTC includes major figures in the crypto community, such as Dai Wei, Hal Finney, and others. These individuals have a strong influence in the crypto space and help BTC quickly establish its roots in the crypto community.
Bome
The content of Bome is to create a book of Memes, recording the history of Memes. In the current environment, this has significant historical value. Memes have become an important means of attracting new users for major public chains, and investors are also beginning to regard Meme tokens as an asset.
Bome was launched during a bull market in the industry, with abundant funds. Dark Farm has deeply cultivated meme culture in the ETH ecosystem and holds a certain influence within the meme communities in the crypto space. Its previous works had a floor price higher than the issuance price even before Bome's popularity, indicating that its achievements are recognized by the community.
Bome received support from many artist KOLs during its early launch. Although these KOLs are not large in scale, their users are genuine and cohesive. As the Meme developed, the project also gained interaction with a larger flow of traffic, such as the promotion by Beeple.
The early adopters mainly came from the SMOWL community, which allowed Bome to directly bypass the most vulnerable stage. After Bome's success, the NFT prices of SMOWL also rose significantly, creating a perfect closed loop.
For Meme projects, success is about the mutual matching of traffic and capital. Simply pushing up the price of a coin cannot effectively attract retail investors; it requires the synergy of traffic and capital. There may only be one dominant Meme project in an era, making it difficult for other projects to gain enough attention.
Summary
Meme tokens are a typical phenomenon of the attention economy in the Web3 era, directly attributing financial value to attention. Creating a successful meme requires consideration of the KOL matrix, communication environment, the fit of the information content, and a unique wealth effect.
When investing in Meme projects, one can pay attention to the phenomenon of attention feedback, such as the Bome community driving up the value of the SMOWL community. The essence of Meme is to play with attention, and its success requires the precise coordination of multiple factors.