Ethereum co-founder Vitalik Buterin criticized the recent trend of celebrities creating memecoins, highlighting their lack of practical utility. In a June 5 [social media post](https://x.com/VitalikButerin/status/1798290424622113230), Buterin stressed that financialization should serve a societal purpose, such as improving healthcare or promoting art.
He argued that projects should provide a sense of accomplishment to participants, even if the tokens become worthless. Buterin cited Ashton Kutcher and Mila Kunis’ Stoner Cats NFT collection as more honorable because it funded an actual show.
Buterin outlined that celebrity-backed crypto projects should serve public good, involve community participation, and be designed to last over ten years. Recent celebrity memecoins have mostly benefited early traders, such as Nigerian record producer Davido, who made $470,000 in 11 hours, according to [Lookonchain](https://x.com/lookonchain/status/1796017849179468116).
Prioritizing long-term value and community engagement in crypto projects can lead to more sustainable and meaningful outcomes.
