Will Scene Coin become the next breakout in the Meme space?

Author: William M. Peaster, Bankless

Compiled by: Deng Tong, Jinse Finance

There is a new trend on the frontier of on-chain: scenario coins.

According to Li Jin's recent classification of meme coins, scenario coins are "community-first meme coins," "launched as a Schelling point for distributed communities with shared values and missions." (Note: A Schelling point is a concept in game theory where individuals tend to make choices based on what seems natural, special, or relevant to them, even without communication.)

These grassroots tokens developed from the bottom up are skyrocketing? The new on-chain stack makes coordination in cryptocurrency easier than ever.

For example, a key pillar here is Warpcast, which is the leading application of Farcaster and the darling of the current crypto social scene.

With its built-in wallet support and composability with other resources like Zora NFT minting, Warpcast has become a fertile ground and headquarters for the new wave of community-driven meme coins, such as $DEGEN, $HIGHER, and $ENJOY.

Another rising pillar of scenario coins is Party, a platform + protocol combination for streamlining on-chain groups. The $HIGHER community uses Party to transparently coordinate the release of its tokens.

Of course, without top-down organization, scenario coins start from a nascent state, gaining further attention through stirring up "hive mind" community participation. Now, we see:

$DEGEN mission = Rewarding great Farcaster content.

$HIGHER mission = Creating an optimistic lifestyle brand.

$ENJOY mission = Curating delightful on-chain media.

Just as NFTs on Zora have become the preferred diffusion channel for noun media, Zora has also become the preferred minting platform for today's scenario coin community culture creation.

There are many reasons—Zora is very user-friendly, it provides rewards and flexibility for creators, and it is Farcaster-friendly. But more importantly, Zora has recently leaned towards scenario coins and has become a hub for them with its own capabilities.

In fact, the Zora team recently activated ERC-20 minting, paving the way for creators to sell NFTs in exchange for non-ETH tokens. As these meme coin communities continue to thrive, this new feature, combined with the NFT-friendly Warpcast, has sparked a recent wave of scenario coin-themed NFTs.

Nevertheless, amidst the ongoing popularity of memecoin trends in the crypto economy, new on-chain stacks like Warpcast, Party, and Zora are redefining how asset creation and community diffusion operate. They can collectively channel the energy of meme coins into the development of scenario coins, focusing it on productive goals.

Looking ahead, the lasting success of scenario coins will largely depend on community participation and bottom-up governance. How these projects navigate and innovate around decentralized decision-making will be key clues to watch in the future.

Moreover, beyond speculation, the long-term value of scenario coins will depend on their adoption and utility both within and outside the community. Keep an eye on upcoming integrations and partnerships, as well as the potential for scenario coins to evolve into mature product lines.

Can this new token niche market maintain momentum and engagement in the coming years? What models can ensure its growth and sustainability without sacrificing community values?

The answers to these questions remain to be seen, but the potential of scenario coins to reshape how new communities are built from the ground up is already evident.