Attention Economics: A Meme Valuation Framework
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Attention Economics: A Meme Valuation Framework
The stronger the ability to attract attention, the greater its potential for growth.
Navigating Web3 tides with focused insightsAuthor: redphone
Compiled by: TechFlow
By most standards of "tokenomics," the value of a meme coin should be close to zero (or even worthless). Yet three memes have already entered the top 25 by market cap ($DOGE, $SHIB, and $PEPE), and this proportion could grow.
So what's going on here? How can we objectively determine which memes are worth holding?
I've always referred to my internal framework as "Attention Economics"—a focus on metrics that are harder to quantify than tokenomics. These include, but are not limited to:
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Audience size. How broad is the audience this meme can attract? (Man's best friend, the dog, clearly has more universal appeal than an obscure inside joke.)
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Sustainability. Is this meme a flash in the pan, or tied to long-standing human interests? In other words, does it stand at least some chance of sustaining attention over time? For example, PolitiFi coins get a lot of attention now—but what happens to the losing candidate’s coin? Or the winner’s?
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Gender appeal. Related to audience size, can this meme cross gender lines and attract a broader base of holders?
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Visualizability. Can you represent the essence of this meme with one iconic image? Even better, can you remix its visual elements into new images—like putting a $WIF hat on someone?
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Accessibility. Is there significant capital active on the parent blockchain of this coin? For instance, if you want to maximize a meme’s potential, launching it on $SOL might be ideal.
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Category. Is this coin a pioneer or capable of creating an entirely new meme category (e.g., nation-based coins)?
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Endorsements. Is there a well-known or inspirational figure associated with this coin? For example, @elonmusk backing $DOGE, or @blknoiz06 supporting $WIF.
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Community. Are the creators or fans of this coin active on social media?
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Catalyzing events. Is there an upcoming news event that could spark broader interest in this coin? For example, elections serve as catalysts for memes like $BODEN and $TRUMP.
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Origin story. Is there an intriguing narrative, mystery, or conspiracy surrounding the coin’s origin? Satoshi Nakamoto and Bitcoin are the gold standard here. BTC’s RSIC•GENESIS•RUNE is another great example. Did Casey create it?
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Geographic reach. Does this coin appeal to an international audience, or is it confined to a specific jurisdiction?
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Vibe. Does this coin feel good? Does it make you laugh? Do you want to share it on social media?
In sum, the core idea behind Attention Economics is that a coin’s ability to capture attention matters more than any other metric—the greater its ability to attract attention, the larger its potential upside. There are also very real and identifiable factors that determine a coin’s growth potential.
I remember when “tokenomics” first emerged, it seemed cringey—too academic, like Wall Street people trying to walk into a crypto rave wearing suits. Yet within just a few years, tokenomics became widely accepted and rigorously analyzed. Attention Economics is simply the new complement to tokenomics.
Eventually, Attention Economics and tokenomics will merge. I’ve said before that I believe the biggest memes will evolve into massive ecosystems with their own chains, DEXs, branded apps, and more (imagine Pepechain). They’ll gradually add utility—just as we saw with NFTs in the last cycle.
But first, attention is everything—and it’s the only factor I consider when buying memes. Capture enough attention, and the world will lay its treasures at your feet.
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@redphonecrypto
