Summary
TLDR: A memecoin called dogwifhat raised over $700,000 to display their logo on the Las Vegas Sphere. Similar crypto fundraising projects have had mixed success in the past. While some, like ConstitutionDAO, failed to achieve their goal, others, like LinksDAO, successfully purchased a golf course in Scotland. The process of getting an advertisement on the Sphere is expensive and complicated. Dogwifhat’s fundraising success is remarkable, but the long-term impact remains uncertain. The writer, an outsider to the finance and tech world, will focus on tangential stories in the crypto space in their column.
Key Points
1. Crypto fundraising can lead to unexpected projects, such as sending the Jamaican bobsleigh team to the Olympics with dogecoin.
2. Some crypto fundraising campaigns, like the one for the Las Vegas Sphere, can be seen as gimmicky and may not age well.
3. Successful examples of crypto fundraising, like LinksDAO purchasing a golf course in Scotland, are rare and exceptional.