Memescoin of Virtualplatform: Opportunities and Challenges

Recently, a new trend has emerged on Genesis Launches, a platform under Virtual. Although there have been some projects of poor quality on the platform, the situation of directly promoting coins through memes is not common. However, this situation has recently changed.

A well-known AI Agent has publicly launched a meme coin named VIRGEN on the platform. What sets this project apart is that it is a transparent meme coin issued by a well-known team. Although positioned as a meme coin, its operation mechanism shows a friendly attitude towards the community. In addition to presale and liquidity pools, a considerable portion of the tokens are allocated to ecosystem staking users and some holders of classic meme coins for airdrops.

Unlike other presale coins, VIRGEN has no lock-up period. This means that once sold successfully, participants can profit immediately when the coin goes online. Although some are concerned that this may lead to a price crash, the fact is that these concerns are unfounded. After the coin is online, instead of crashing, it continues to rise.

The team's follow-up actions further solidified the position of the coin. In addition to the planned airdrops, they also conducted additional airdrops to unsold presale participants and continued to use profits to repurchase the coin. This series of actions quickly made VIRGEN a leading meme coin on the platform.

Subsequently, another meme coin project called NOTHING emerged. This project is not just a mere meme coin, but also gives actual use to the token: by permanently locking the token, holders can continuously receive points for participating in platform sales. The sale of NOTHING was also successful and included two additional airdrops, exceeding market expectations.

The success of these two projects stems from their generous mechanism design on the one hand, and on the other hand, it benefits from the sincerity and strength of the team behind it. However, this successful model is difficult to replicate, and it is also difficult to find teams of a similar caliber.

With the emergence of these successful cases, there have inevitably been projects of varying quality on the platform. To prevent the platform from becoming another place for short-term speculation, the ideal approach is to maintain the barrier-free nature of project operations while allowing market mechanisms to naturally eliminate inferior projects. This requires a group of high-quality participants who can consciously reject bad projects.

The fact is that the market has indeed demonstrated this self-cleansing ability. After VIRGEN and NOTHING, some uncreative pure meme coin projects have failed one after another, with some experiencing a sharp price drop after going online, while others have been directly ignored by the market.

This market response is gratifying, showing that the platform is forming a healthy ecosystem. I hope that this positive atmosphere and mechanism can continue, enabling the platform to stand out in a competitive market, forming a unique culture and competitive advantage.