Billy Markus, one of the creators of the meme coin DOGE, has revealed why he opposes the creation of ApeCoin. He expressed his concern that introducing tokens into the NFT space would cause toxicity. Markus revealed that speculations about token markets tend to elicit a lot of negative reactions from people.
ApeCoin was announced on Wednesday by Yuga Labs, the creators of the BAYC collection. The creators revealed that ApeCoin would be the ecosystem’s governing token. The asset would be managed by the ApeCoin DAO, and token holders would be able to vote on and fund projects in the ecosystem.
Billy Markus concluded his thought by saying that it was fine for others to disagree with him, but he urged them to do so constructively rather than attacking him or Dogecoin. He claimed that choosing the latter would only serve to prove his point.
It would not be the first time the creator of the DOGE has been critical of cryptocurrency communities. In many ways, it was the catalyst for the creation of the sensational meme coin, which Markus and his partner Jackson Palmer devised to mock the fervor surrounding cryptocurrencies at the time.
In previous tweets and memes, the Dogecoin co-creator urged the DOGE community to focus on utility if the asset was to gain traction. He stated that the price should not be the primary focus of the community.
It is important to note that Markus is no longer involved in the Dogecoin project. DOGE is down 1.32 percent in the last 24 hours and is trading around $0.11.