The Nick Shirley token highlights Base's Zora-driven surge and vanity metric issues

According to CoinWorld, last month saw a surge in token issuance on the Base launchpad, with daily issuance exceeding 100,000 tokens, mainly driven by Zora's content tokens. However, at the same time, the number of active addresses dropped to its lowest point in 18 months, and trading volume also declined, highlighting the issue of "vanity metrics." For example, the token issued by creator Nick Shirley once peaked at a market cap of $15 million, only to plummet to $74,900. This case demonstrates that while these low-cost tokens can generate speculative volatility, they fail to promote sustainable on-chain value growth or enhance creator engagement.