Base Creator Token THENICKSHIRLEY Surges and Crashes Amid Political Controversy
The Base-based creator token THENICKSHIRLEY experienced a dramatic surge late in 2025, reaching a fully diluted valuation near $9 million. However, within hours, the token's value dropped by approximately 67%, falling to about $3 million by January 1, 2026.
The token, launched on Coinbase-backed Base through Zora, was promoted as a real-world test of decentralized content monetization. Initial hype was fueled by a viral 42-minute video concerning Minnesota childcare fraud allegations. This video and its claims were amplified by prominent figures including Elon Musk and individuals tied to the Trump administration, sparking media and political controversy.
Despite the rally, most trading volume came from existing on-chain traders rather than new users joining Base or Zora, indicating a closed-loop trading dynamic instead of broad user adoption. Creator Nick Shirley reportedly earned between $41,600 and $65,000 in on-chain creator royalties from the trading activity.
Critics contended that the episode highlights a structural imbalance: short-term speculation benefits creators and early traders but does not foster durable, on-chain user growth. The event was described as the strongest possible test case for creator coins by the commentator notthreadguy.
Base’s broader SocialFi experimentation, which includes projects like Friend.tech and Zora, continues amidst forecasts that SocialFi could surpass $10 billion by 2033, despite challenges with uneven user retention. Brian Armstrong, CEO of Coinbase, publicly praised the launch and later acknowledged discussions with notthreadguy about creator coins.
