Creator Token Sparks Controversy Among Public Chain Giants, Controversy Behind Zora Token Big Pump

The crypto community has recently been buzzing due to an intense discussion surrounding "creator tokens." The founders of two major public chains have rarely taken to the field personally to engage in a direct confrontation over a certain social networking platform and a certain token issuance platform.

The spark of this debate came from a researcher's public questioning of a certain social networking platform. The platform operates on a certain ecological chain, aiming to help creators profit directly from content by tokenizing user profiles and posts.

However, this researcher believes that the platform is just a change of soup but not the medicine. He bluntly stated that the vast majority of tokens issued on automated market makers, which have extremely low liquidity and exhibit exponential price curves, are essentially "refurbished junk coins." He also cited another token issuance platform as an example, pointing out that the ERC20 tokens issued on it often end up going to zero, rather than just underperforming the market.

In the face of this sharp criticism, a founder of a certain ecological chain quickly began to refute it. He stated on social media: "I believe your point of view is incorrect. The content is valuable, and the creators are valuable." He further emphasized that equating the assets issued on the two platforms is itself a logical fallacy, as not all tokens are the same; the fundamentals are key.

This remark quickly elicited a response from another public chain founder. He sarcastically asked, "Can these tokens really secure the rights to future cash flow for creators?"

Then, the two founders engaged in a heated debate:

The first founder insists that the content itself has intrinsic value, just like a painting that still holds value even if no one pays for a ticket. He also stated that although there are many types of tokens on the platform, they all represent a repetitive, infinite game of chance, and the actions of the participants will affect the operation of the entire system.

The second founder questioned this view, arguing that if it is a good thing for retail investors when creators sell their tokens, does that mean retail investors can buy below the fundamental value of the content? He sarcastically concluded, "Then go persuade the token holders to have some exchange use its profits to buy up those tokens that are close to zero because they are 'below the fundamental value of the content.'"

Interestingly, the second founder has been actively promoting the meme coins within his ecosystem, but in this debate, to enhance his persuasiveness, he added: "I have believed for years that meme coins and NFTs are just digital trash with no intrinsic value. Just like the loot boxes in mobile games, even though people spend as much as $150 billion on this every year."

At the same time, the social network platform token, which is at the center of the debate, has surged by 883% in the past month. This rise is driven both by the implementation of content tokenization features in a certain application and by the support of a certain exchange launching perpetual contracts.

However, the on-chain data provides another interpretation. According to analysis, the contract trading volume of the Token on a certain exchange reached as high as 1.354 billion USD in 24 hours, which is 16.4 times the spot trading volume. Some analysts pointed out that although the Token seems to have entered an independent market phase, there have been no records of single transactions exceeding 500,000 USD on-chain recently, suggesting that funds within centralized exchanges may be manipulating the market.

This intense confrontation not only reveals the deep divisions in the crypto world regarding the essence of "creator tokens," but also reflects the complex competitive relationships and ideological conflicts between different public chain camps. This debate may have no winners, but it embodies the ongoing exploration of value definition in the crypto world, continuously negotiating between ideals and reality, belief and skepticism.