PopMart’s founder Wang Ning has a very interesting theory. He says that even if you are a multi-millionaire, you would still feel heartache when you forget to turn off the faucet before leaving home. Even if it’s only 30 bucks a day, it still feels uncomfortable to you. But if the luxurious fountain at the entrance of your upscale community runs all day, costing 300 bucks, you wouldn’t feel anything at all.

Why is that? Because the water from the faucet is useful — it triggers your rational calculation, making you feel that 30 bucks a day is too expensive. Whereas the water from the fountain is useless, but it satisfies your emotional value, making you feel delighted and pleased. Therefore, you don’t bother comparing the cost. This leads to his conclusion: Emotional value is often worth far more than practical value.
In the world of crypto, this is exactly why memes can be so powerful. A meme coin may have zero utility, but if it brings joy, community, FOMO, and that “fun” emotional rush, people are willing to pay a premium for it — way more than for many “useful” but boring projects. @cz_ @toly @vladtenev @jessepollak