Vitalik Buterin, one of the co-founders of Ethereum (ETH), has drawn attention to the recent surge in celebrity memecoin trends, emphasizing the importance of digital assets serving broader purposes beyond enriching their creators and initial supporters.

Addressing his 5.3 million followers on the social media platform X, Buterin expressed his discontent with the current wave of celebrities delving into meme assets. Specifically, he mentioned Stoner Cats, an NFT collection endorsed by actors Ashton Kutcher and Mila Kunis, highlighting that this project showed a semblance of real-world utility.

Expressing his dissatisfaction with the prevailing trend of celebrities engaging in experimental financial activities, Buterin stressed the significance of financialization serving a meaningful purpose such as healthcare, open-source software, or art. He commended Ashton and Mila’s Stoner Cats project for its genuine attempt at creating a tangible impact compared to the plethora of celebrity memecoins saturating the market in 2024.

While Stoner Cats faced scrutiny from the U.S. Securities and Exchange Commission (SEC) in 2023 due to being classified as an unregistered security, Buterin underscored the necessity for celebrity meme assets to possess certain qualities to earn his respect. These characteristics include longevity in relevance, utility beyond mere enrichment of celebrities or early backers, and unique functionalities beyond simple tradability.

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