Attention Economics: Meme Valuation Framework

Original source: redphone X account

Author: redphone

Compiled by: Deep Tide TechFlow

According to most measures of "token economics," the value of a Meme should be close to zero (if not worthless). However, three Memes have already entered the top 25 by market capitalization ( $DOGE, $SHIB, and ++$PEPE++), and this proportion may continue to increase.

So what is going on here? How can we objectively determine which Memes are worth holding?

I have always referred to my internal framework as "Attention Economics," which focuses on metrics that are harder to quantify than token economics. Specifically, it includes but is not limited to:

1. Audience Size. How broad of an audience can this Meme attract? (A dog, humanity's best friend, is clearly more universally appealing than some obscure inside joke.)

2. Sustainability. Is this Meme a flash in the pan, or is it related to long-standing human interests? In other words, does it at least have the potential to continue attracting attention? For example, PolitiFi coins have a lot of attention now, but what about the coins of election losers? And what about the winners?

3. Gender Appeal. Related to audience size, can this Meme cross gender boundaries and attract more holders?

4. Visual Representation. Can you represent the essence of this Meme with an iconic image? It would be even better if you could combine the Meme's visual elements with new imagery (like putting a $WIF hat on someone).

5. Accessibility. Is there a significant amount of capital active on the parent chain of this coin? For example, if you want to maximize the Meme's opportunities, you could issue it on $SOL.

6. Category. Is this coin a pioneer or capable of creating an entirely new category of Meme (like national coins)?

7. Endorsements. Are there well-known or inspiring figures associated with this coin? For example, $DOGE supported by @elonmusk or $WIF supported by @blknoiz06.

8. Community. Are the creators or fans of this coin active on social media?

9. Catalytic Events. Are there upcoming news events that could spark more interest in this coin? For example, elections are catalysts for Memes like $BODEN and $TRUMP.

10. Origin Story. Is there an interesting story, mystery, or conspiracy surrounding the origin of this coin? Satoshi and Bitcoin are a prime example of this. RSIC•GENESIS•RUNE on BTC is also a good example. Did Casey create it?

11. Geographical Coverage. Does this coin attract an international audience, or is it limited to specific jurisdictions?

12. Vibe. Does this coin bring a good feeling? Does it make you laugh? Do you want to share it on social media?

Overall, the core idea of attention economics is that a coin's ability to attract attention is more important than other metrics. The stronger the ability to attract attention, the greater its potential for upward movement. There are also very practical and identifiable factors that determine a coin's growth potential.

I remember when "token economics" first emerged, it seemed very cliché. At that time, it felt too academic, like Wall Street people trying to enter the crypto carnival in suits. However, just a few years later, token economics has been widely accepted and rigorously scrutinized. Attention economics serves as a new complement to token economics.

Of course, over time, attention economics and token economics will gradually merge. I have said before that I believe the biggest Memes will evolve into massive entities with chains, DEXs, brand applications, etc. (imagine Pepechain). They will gradually increase their utility (just like we saw with NFTs in the last cycle).

But first and foremost, attention is what matters most, and it is the only factor I consider when purchasing Memes. As long as it can attract enough attention, the whole world will offer you its treasures.