mfercoin 🫥

The Ultimate Degen Meme Coin

Super Degen World by Beeple

mfercoin (MFER) is a meme coin on Ethereum. It was airdropped to wallets that held mfers NFTs on March 29th, 2024. As a meme coin, it has no utility.

Meme coins have been around since the early days of crypto and some of the best known ones are Dogecoin ($22B market cap), Shiba Inu ($14B market cap), Pepe ($4B), dogwifhat ($3B market cap), and Bonk ($1.6B). Meme coins have led the early stages of this crypto cycle and some influencers have declared this the meme coin super cycle that will legitimize meme coins as an alternative asset invested in by degens of all sizes, including individuals with Robinhood accounts all the way through to hedge funds and institutional investors.

As ya’ll know I have a very open and curious mind and have written about very esoteric investment ideas such as cartoon jpegs and ponziesque defi protocols as well as digital art. However, I have continuously brushed aside meme coins as I couldn't get my head around the investment thesis. I have denied them too long and after spending time thinking about the concept I now believe there is a case for them.

We have heard that value is in the eye of the beholder, and this is paramount for investing/speculating. Many investments and investors are actually speculations and speculators. Human beings are speculators. We love to gamble & speculate on all types of things and it’s part of our nature.

You only have to look back to 2020/2021 to recall the meme stock mania when retail investors with user friendly and fee friendly Robinhood accounts pumped bankrupt and near bankrupt companies like GME, AMC, and BBY (and in the last week, meme stocks have taken off again). However, there were still constraints and meme stocks were not the ideal speculative vehicle because they could be halted, there are age restrictions, account opening and tax/compliance friction, and could have some fundamental drivers.

Meme coins now allow anyone, anywhere, in any increment, with zero fees and zero friction and zero knowledge to trade fundamentally-hollow assets that have the potential to go up in value without natural limitations. The speculator does not have to learn or understand anything about the asset, they just need to consider the potential virality of the meme. All barriers to speculation have been removed and the act of speculation has been reduced to its purest form. And the younger generations do not feel a connection to traditional investments that they feel are being offloaded to them by retiring boomers at egregious prices (traditional assets, gold, real estate, traditional art). They have been driven into debt by skyrocketing costs of education, taxation, inflation, monetary debasement, low wages, and consumer culture propagation. They would rather roll dice with asymmetric outcomes than play the old game of taking on massive amounts of debt for education, saving pennies from mind-numbing jobs to invest in dull traditional assets, taking on more debt to buy a house, and then retiring at 70 (still in debt) to finally live life.

Investing/speculating has been gamified and appeals to Gen Alpha, Gen Z, and Millennials - the future allocators of capital. They care about investing/speculating in a social and gamified fashion without concern for fundamental value as a cult-like community. They want to feel like they are a part of something. This is product market fit at its finest.

MFER could go to zero but it could also go 1,000x. There are many other notable meme coins such as MOG, DEGEN, MEW, SLERF, BODE, MICHI, POPCAT, BOME, and FLOKI, but I think the risk reward is best for MFER.

Explain it to me like I’m 5 years old…Imagine you have a funny coin called MFER that doesn't do anything special but makes people laugh. It was given to people who had a special kind of funny picture called an mfers NFT. Even though it doesn’t have a real use, people like to trade it because it’s fun and easy. Just like how some kids like to collect and trade cards, people like to collect and trade these coins because they think they might become more valuable. It’s like a big game where everyone hopes their funny coin becomes super popular and worth a lot!

In addition to my investment thesis and near-term catalysts (detailed below), check out these X threads: 1, 2.

MFER can be purchased on most decentralized exchanges.