Cryptocurrency experts are divided on Internet Capital Market Tokens: A breakthrough or just another cryptocurrency bubble?

The rise of Internet Capital Markets tokens (ICM) has divided the crypto community on X (Twitter) regarding the future of this sector. Supporters emphasize the potential of this field in driving significant business growth and democratizing capital formation.

However, skeptics still have doubts, viewing ICM tokens as an upgraded version of meme coins.

Is the Token of Internet Capital Markets the Future of Cryptocurrency?

To understand better, Internet Capital Markets is an emerging crypto trend. Businesses and developers are currently tokenizing their application ideas, websites, or projects, turning them into tradable digital assets on blockchain platforms. Essentially, this allows users to invest in the potential of an application by purchasing tokens linked to its idea.

Analyst Frank emphasized the liberating potential of this trend in a post on X. He explained that these tokens offer a more accessible, liquid, and decentralized alternative to traditional equity ownership.

"It will be much larger than meme coin trading," he predicted at the beginning of 2025.

Although this field has existed for some time, it has recently garnered significant attention with the emergence of many new tokens. This increased attention has driven impressive development in this area, making Frank's predictions seem not far-fetched.

According to the latest data from Dune, 7,619 tokens have been launched on the Believe app, serving as a launchpad for ICM tokens. This represents a 138.6% increase compared to yesterday.

Furthermore, 423 tokens have been activated. That's not all. Believe Screener reveals that the total market capitalization of the tokens has nearly doubled from around 220 million USD on May 13 to 427 million USD at the time of writing.

These numbers reflect the optimism of the community towards this sector. In fact, many market watchers have regarded this as a trend that cannot be overlooked.

"This is an excitement that cannot be missed — and as more builders join in this excitement, we, the enthusiasts, will have a great opportunity to make money," said Hitesh Malviya, founder of the on-chain analysis platform DYOR, in a post on X.

In addition, analyst Evan Luthra emphasizes that Internet Capital Markets is bridging the gap between an idea and its actual impact. This acceleration fundamentally changes the way ideas are realized and funded, allowing for the implementation and iteration of projects to happen faster.

"Every financial revolution looks like a scam at first. But the point of ICM is not guaranteed profit. It is the radical access to early-stage internet projects." Luthra remarked.

Meme coins and ICM tokens: Is there a difference?

Nevertheless, this trend has also attracted many critics. Many believe that Internet Capital Market tokens are just a rebranded version of meme coins, which have long been criticized for their volatility and lack of intrinsic value.

"Internet capital markets is just a fancy way of saying meme coin. It’s the same kind of garbage," a analyst posted.

Another user also expressed a similar concern. He compared Believe with platforms like Pump.Fun, suggesting that there may not be any real difference.

"What prevents developers from making money from their ideas on the internet on those applications compared to believe?" the user asked.

However, Malviya points out that the main difference between meme coins and ICM tokens lies in the reliability of the builders.

"In the meme, anyone can become a developer and launch a token — here you have builders with a track record of launching applications, you are speculating on the application, not on the cultural relevance of the meme," he said.

However, when asked how long this story would last, Malviya gave a less optimistic response. He estimated it would only last about 4-6 weeks.

Meanwhile, legal issues further complicate the story. A user points out that many meme coin projects include disclaimers stating that their tokens do not provide any real utility or expectations. He emphasizes that this is not accidental but a deliberate choice, as integrating real use cases or buyback mechanisms is challenging.

For ICM developers, this poses a significant challenge. While launching a token can be an attractive way to raise funds quickly, developing a token with real use cases requires careful planning, substantial technical infrastructure, and a clear long-term product vision. It also involves compliance with complex legal and regulatory frameworks, which can increase costs for developers.

"Internet capital market. A place where somehow startups are willing to spend 150% of their revenue on legal fees to be associated with a token," he wrote.

These concerns highlight the ambiguous regulatory framework surrounding Internet Capital Market tokens, which could hinder their widespread adoption. Therefore, although the sector is booming now, its trajectory is still uncertain.

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