Coinbase’s Ethereum layer-2 Base faces pushback as its creator token experiment failed to maintain onchain activity. YouTuber Nick Shirley’s token briefly hit a $9 million value before dropping to $3 million, mostly fueled by existing traders. Critiques argue no demand for content coins beyond existing users, despite Zora-linked experiments.

Shirley’s unverified claims stirred controversy, amplified by figures like Elon Musk and Trump officials. The claims played a role in the administration’s decision to freeze child care funds to Minnesota. Base, marketed as a decentralized social platform, aims to boost creator activities. Reports project SocialFi market to exceed $10 billion by 2033.

Base’s growth versus actual stickiness sparks discontent among builders. High-profile creator coins promotions have led to perceptions of favoritism, leaving retail participants vulnerable to liquidity issues. Coinbase CEO Brian Armstrong acknowledges concerns and engages with community members to address issues and improve the platform.

Read more at Cointelegraph: Base’s Creator Coin Experiment Meets Resistance After Shirley Launch