Meme Economy

The meme economy is an informal phrase for the way online attention, jokes and viral images gain, lose and are given value, and increasingly are turned into money. It began as a joke on internet forums, where users pretended to "invest" in memes they expected to spread and "sell" those that were fading. The idea took a literal turn with meme coins such as Dogecoin and Pepe, whose prices depend mainly on community enthusiasm, and with the meme-stock rallies of 2021, when online communities coordinated buying of heavily shorted shares. Creators also earn money from viral content through advertising, merchandise and NFTs. Critics point out that value in the meme economy is driven by attention and timing rather than cash flows, so prices can collapse as quickly as they rise, and that it is fertile ground for pump-and-dump schemes. Also see internet memes.