In the fast-paced world of cryptocurrency, where new projects pop up daily, one voice is challenging the status quo. NickPlaysCrypto, a prominent figure in the crypto gaming and tokenomics space, recently sparked a conversation on X (formerly Twitter) with a thread questioning why every crypto idea needs its own coin. His take? Most don't. And he's got some strong points that resonate especially in the meme token ecosystem, where hype often outpaces utility.

Nick argues that the vast majority of crypto projects could function just fine as services, charging users a simple monthly fee in established cryptocurrencies like Ethereum or USDC—a stablecoin pegged to the U.S. dollar for those new to the term. Instead of launching a new token, which often leads to wild speculation and overvaluation, projects could focus on delivering real value. "Literally 99.99% of projects could take a monthly subscription fee in ethereum," he writes in his original thread.

This hits home for meme coins, which are digital tokens inspired by internet memes, jokes, or cultural trends. Think Dogecoin or Shiba Inu—these started as fun experiments but ballooned into speculative assets. Nick points out that the main reasons for creating a coin boil down to tradition ("it's just what you do") or enabling speculation, which rarely aligns with long-term success. In the meme token world, this speculation can create massive pumps and dumps, leaving retail investors holding the bag while early holders cash out.

He goes further, calling out decentralized autonomous organizations (DAOs)—community-governed entities on the blockchain—as often counterproductive. Voting rights tied to tokens can lead to poor decisions, he says, hindered by uninformed participants. "Would have been better if they just had a centralized team of smart knowledgeable founders dictating everything," Nick suggests. This centralized approach might seem counterintuitive in a space built on decentralization, but it echoes concerns in meme communities where DAO votes sometimes stall progress or favor short-term gains over sustainability.

Replies to the thread show agreement. One user, Xoo.Fi.edge, reinforces that "most crypto coins are pure speculation," and a subscription model makes more sense. Another simply states, "You're not wrong." These responses highlight a growing sentiment in the crypto community, particularly among those tired of rug pulls—scams where developers abandon projects after raising funds—and overhyped tokens with no real use case.

For blockchain practitioners diving into meme tokens, this perspective is a wake-up call. If a project's idea isn't useful enough to sustain through subscriptions, it might not deserve a token at all. Instead, building on Ethereum's robust network could streamline operations without the baggage of tokenomics gone wrong. Ethereum, the second-largest blockchain by market cap, already supports smart contracts—self-executing code that powers decentralized apps—making it ideal for subscription-based services.

As meme tokens evolve, integrating actual utility beyond memes could be key. Projects that offer tools for gaming, AI agents, or community building, as Nick's bio hints at his interests, might thrive by ditching the coin altogether. This shift could reduce volatility and attract more serious investors, turning meme culture into a legitimate force in blockchain.

Ultimately, Nick's thread invites us to rethink the crypto playbook. Not every idea needs to be tokenized. By prioritizing utility over speculation, the industry could mature, benefiting everyone from casual traders to hardcore developers. If you're building or investing in meme tokens, consider: Does it really need a coin, or is that just the easy way out?