On-chain investigator ZachXBT questions Irene Zhao’s new memecoin project, highlighting past failures and transparency issues.
Points
- ZachXBT’s criticism of Irene Zhao’s new memecoin
- Zhao’s past project failures
- Details of the new project and its goals
Pseudonymous on-chain investigator ZachXBT has raised concerns about Irene Zhao, the founder of the SO-COL platform and a crypto influencer, regarding her new memecoin project. ZachXBT questioned Zhao’s plans to address the impact on those affected by her previous failed projects.
Zhao’s earlier project, SO-COL, aimed to rival platforms like TikTok and OnlyFans through creator non-fungible tokens （NFTs）. However, the project faced significant challenges due to the crypto winter’s impact on NFT transactions, leading to decreased interest from creators and brands. Additionally, Zhao secured a $1.5 million investment to boost liquidity and extend the project’s lifespan.
Despite these efforts, ZachXBT remains skeptical about Zhao’s new project, “ASIANMOM,” which includes strict lock-up periods for herself and contributors to ensure accountability and trust. He criticized Zhao’s decision to launch a new memecoin instead of continuing to work on SO-COL, questioning the number of failed projects before Zhao would take full responsibility.
解説
- Criticism and skepticism: ZachXBT questions Irene Zhao’s accountability and transparency in launching a new memecoin amid past project failures.
- Past challenges: SO-COL faced significant issues due to market conditions and decreased interest, despite efforts to secure additional funding.
- New project goals: “ASIANMOM” aims to ensure accountability with strict lock-up periods, but skepticism remains about Zhao’s ability to deliver on her promises.