As memecoins have captured the attention of the broader cryptocurrency industry in recent weeks, a viral video has emerged detailing how easy it is for anyone with an internet connection to create an entirely new cryptocurrency from scratch.
In a video posted on May 6, digital artist Johnny Shankman (who goes by the Twitter username whitelights.eth) shows him creating and deploying a mobile phone, humorously dubbed "EASY_MONEY," in just 27 seconds. A "speed pass" for brand new tokens. That record was broken just one day later at 22.45 seconds. The term "sprint" originated in the gaming community and is often used to refer to completing a game or a level in a game as quickly as possible.
In the now-popular video, Shankman shows how any user can quickly create a new token by using a program called Contracts Wizard, created by crypto cybersecurity firm OpenZeppelin. The Contacts Wizard tool generates codes for ERC-20 tokens with just a few quick cursor clicks. In the program, users can choose some potential functions for their tokens.
After creating the code, Shankman then uses an application called Remix, which compiles the token's smart contract and deploys it on a given blockchain network. In the video, Shankman chooses to deploy his EASY_MONEY (EZ) token on the Ethereum testnet. He noted in The comments section that the video was "for educational purposes only," and clarified that by deploying EASY_MONEY on the Ethereum testnet, it was not a real token to speculate on.
Notably, Shankman's video was picked up by many of the biggest accounts on Crypto Twitter and retweeted by the likes of Loopifyyy, and the video has now racked up over 3 million views across a range of different accounts.
The popularity of Shankman's post comes at a time when “shitcoins” are gaining popularity in the broader crypto ecosystem. The recent memecoin craze has largely been led by a “totally useless” frog-themed token called Pepe, which has surged more than 5,00 0% Since its debut on April 14. In a follow-up comment, Shankman pointed out that someone actually created a token with the same name as his explainer, but revealed that he "didn't make it" and that he "wouldn't be buying it."
Less than 24 hours later, a new video emerged from another Twitter account, showing the same process completed in just 22.45 seconds, setting a new unofficial record for a memecoin speedrun.
