The Experiment

Finlay launched two memecoins — “Consent” on Ethereum and “I Don’t Consent” on Solana — to analyze the chaotic nature of the memecoin market. He described the experience as “deeply unpleasant in predictable ways,” revealing the lack of clarity in the interaction between investors, token issuers, and communities.

The tokens quickly gained speculative traction, temporarily inflating Finlay’s holdings to over $100,000, but their undefined purpose left participants vulnerable to financial risks. The MetaMask co-founder noted that investors kept demanding long-term plans for the tokens despite their simplistic design.

“The only clear consent in this memecoin environment,” Finlay explained, “is that buyers willingly put their money into something. But if the purpose is undefined, what kind of consent is that?”

Finlay tied the issues seen in memecoins to the larger debate about digital consent on platforms like Bluesky, where public posts were used for AI training without user consent. He highlighted the disconnect between platform protocols and user expectations, stating that similar flaws plague the memecoin space.

Implications for Web3

The experiment underscores the need for better tools and infrastructure in the Web3 space. Finlay advocates for mechanisms that give token issuers more control, such as restricting access to specific communities or providing structured sale methods.

With blockchain and AI technologies converging, the MetaMask co-founder emphasized the importance of creating systems that foster trust, align with user expectations, and promote transparency in consent.

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