At the Token2049 event in Singapore, Andrew Saunders, Chief Marketing and Growth Officer of EVM blockchain Skale, discussed celebrities entering Web3 through meme coins. Saunders criticized the current state of celebrity meme coins and said he would steer clear of these tokens. "I come from Hollywood, I would never touch a celebrity meme coin." He explained that celebrity meme coins share similar qualities with most meme-based tokens. These token projects often have a large supply held by key stakeholders. Even if they distribute the tokens to 50 wallets, it's still the same situation if they are held by a few. Saunders also described meme coins as a kind of player-versus-player (PvP) game. He believes that if users get in early enough, their investment can multiply. He also stated that the trend will change as regulation in the space becomes clearer. As Americans become more positive about cryptocurrencies and start to understand the technology, this is when celebrities will realize they can use blockchain technology to connect with their fans. Additionally, they can access data they couldn't access using Web2 technology. For example, celebrities could create a DApp that allows users to earn points for all interactions with the celebrity's social media posts. They could then exchange these points for perks like meet-and-greets, signed posters, or even cameos in music videos. "I think that's where it's ultimately going. There's no reason for celebrities to launch tokens now, whether it's a meme coin or a utility token, but I do think blockchain technology will eventually be widely used by celebrities," said Saunders. (Cointelegraph)