From Memes to Markets: Inside Crypto's Push To Turn Attention Into an Asset Class

Core Concept - The article discusses the emerging concept of attention assets, which are financial instruments that derive their value from public attention rather than traditional cash flows [1][2]. Definition and Structure - Attention assets are distinct from existing assets like NFTs and memecoins, as they aim to measure and trade attention as a quantifiable entity [3][4]. - A formal attention asset class would provide clarity, structure, and symmetry, allowing for better classification and trading of these assets [5][6][7]. Market Potential - The creator economy is projected to grow from approximately $205 billion in 2024 to $894 billion by 2032, indicating a significant market for monetizable attention [12]. - The NFT market is estimated at around $3.22 billion, with potential for fractionalization and index funds to create tradeable attention exposure [13]. - The top five meme-coins have a cumulative market cap of about $38 billion, suggesting a substantial opportunity for attention assets [13][14]. Mechanisms and Innovations - Prediction markets could enhance the measurement of attention by concentrating liquidity and information around culturally relevant questions [9][10]. - The integration of blockchain technology with prediction markets and institutional infrastructure could facilitate the trading of cultural interest as a marketable asset [10][11]. Current Developments - There is growing momentum in the space, with advancements in reliable attention feeds, composable instruments, and decentralized social graphs [15][16]. - Various platforms are experimenting with social tokens and bonding curves to establish the value of creators' attention [17]. Conclusion - The concept of attention assets highlights the economic value of human interest, which can be captured and traded [18]. - Attention is viewed as a symbolic currency that signifies reputation and status, with potential for exchange into other valuable resources [19].