Meme coins are the only use case for crypto. There has been a lot of talks, opinions, and threads highlighting Meme coin frenzy and speculation as the ultimate use case for crypto. I think they've all been missing the underlying truth. Meme coins are just the foot in the door tool.

Ownership. Come for the speculation. Stay for the ownership. True ownership has always been the winner use case of crypto.

Can meme coins offer a better way to distribute ownership?

Financial gain is part of the benefit of speculating on meme coins. In most cases - even the primary goal. But that's a feature, not a bug. Financial gain is what drove the capitalist economy in the last few decades and brought a lot of prosperity and growth into the world. Free markets have been the ultimate capital allocation mechanism where "the secret hand of the market" allocates resources and foster innovation and support the emergence of new technology.

However, capitalism in it's current form suffers from a lot of downside, mainly naming the unfair distribution of capital. In our traditional economy and Trad-Fi, capital has been the primary factor in deciding who's going to have more capital - If you had an initial capital to deploy, you were able to invest and make more of it, but if you were on the other hand of the spectrum with no capital, your fate is pretty much pre defined to stay in the last percentiles and not getting to participate in this game.

Crypto offers ways to better distribute capital but tended to suffer from the same issues Trad-Fi had suffered from. Enter MemeCoin, introducing a new way to leverage the free market and capital allocation mechanism but let people without capital have skin in the game. This is a major breakthrough because suddenly it's enough for you to be early, or event just be a good meme creator, and you are offered with new ways to monetize your creation and gain a piece of this new pie.

Yes, speculators remain. Yes, insiders remain. Yes, rug pulls have been and are still happening in many of these "fair- launch", but these are all side effects that obscure the main point.
Meme coins are just the tool that allows anyone to distribute ownership and gain ownership on value creation, whether it be growing the meme or building an initial community around it. Once a community is formed, value creation among the members of the community becomes the second phase of venture building.

Conclusion

In summary, Meme Coins are just a representation of ownership. Ownership is what attracts people; ownership is what gives people the motivation to make efforts and create something new.

Speculation is what brings people. Ownership is what keeps them around. and that is the more significant part of any venture that started as a meme, captured some initial attention and traction and now direct that energy towards building something more sustainable - a product, a brand or a movement.

I'm excited to see new tools being built that allow better and wider distribution mechanisms to pre-distribute Meme coins, mechanisms to create reputation, and mechanisms to reward contributions beyond financial capital. I'm excited to see how covariance can play an important part in that journey.