Vitalik Buterin, one of the creators of Ethereum (ETH), is speaking out against the current trend of celebrity memecoins, emphasizing the importance of digital assets having real-world utility beyond just benefiting their creators and early adopters.

In a recent post on the social media platform X, Buterin expressed his dissatisfaction with the rise of celebrities dabbling in meme assets. He specifically mentioned Stoner Cats, an NFT collection supported by actors Ashton Kutcher and Mila Kunis, noting that the project had some semblance of practical application.

“I’m not pleased with the current trend of celebrities experimenting with meme assets. If financialization serves a noble purpose such as healthcare, open source software, or art, I can respect it. Stoner Cats, backed by Ashton and Mila, was a more commendable effort compared to the celebrity memecoins we’ve seen recently – at least it was funding an actual show,” Buterin stated.

Stoner Cats faced scrutiny from the U.S. Securities and Exchange Commission (SEC) in 2023 for being an unregistered security. The SEC pointed out features of the NFT collection that suggested investors could expect profits.

Buterin further outlined the criteria that a celebrity meme asset would need to meet in order to earn his approval. He emphasized the importance of longevity, practical use cases beyond enriching celebrities or early adopters, and additional features beyond just being tradable.

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