Live streaming e-commerce has become a very common shopping channel for the general public, conveying information in a more intuitive and immersive way, igniting users’ shopping needs quickly and efficiently from small screens, and ultimately transforming into a money-making tool to facilitate transactions.
But have you ever imagined what would happen if one day, the “321 Go Live” happened in the cryptocurrency circle? After all, even though it’s cryptocurrency, in a way, it’s also an investment commodity. If you can buy insurance live, why can’t you buy virtual currency?
Just recently, Pump.fun successfully turned this idea into reality. On May 29th, the meme coin issuance platform Pump.fun announced the launch of live streaming functionality on Platform X.
As of now, the live streaming functionality has been in place for half a month. In this short period of two weeks, the live streaming effect has brought not only a surge of traffic to the cryptocurrency circle but also exaggerated hype that goes beyond human limits.
Despite mainstream institutions not favoring MEME, it must be acknowledged that MEME represents a cultural landscape that embodies the spirit of Web3. In the hype surrounding MEME this year, with low cost and high efficiency, Solana has successfully stood out in the public chain, becoming the most concentrated ecosystem public chain for mainstream MEME culture. Pump.fun was established precisely for this purpose.
In summary, Pump.fun is a meme issuance platform established specifically for Solana. Users can deploy and issue tokens at a cost as low as $2, breaking away from the liquidity arrangements and high costs of traditional token issuance. In terms of token issuance, Pump.fun follows two paths: issuers relinquishing minting rights to establish liquidity on decentralized exchanges like Raydium, and adopting a presale model.
Overall, Pump.fun is almost a completely fair launching platform, with simple operation, no team allocations, no insider trading, and aside from the potential sell pressure from presales, it is fairer for users. Prior to Pump.fun, there was no dedicated website for distributing MEME, and early MEME tokens couldn’t even be purchased through wallets. Therefore, after the website went live, Pump.fun quickly gained popularity.
According to data from Dune, as of June 4th, Pump.fun has captured nearly 203,000 SOL in total revenue since its launch in February, currently valued at approximately $33.468 million. It has deployed over 832,000 memes, accounting for over 70% of Solana’s historical token issuance (over 1.1 million tokens), launching an average of over 6,300 tokens daily, rightfully earning the title of MEME Launch King.
With its inherent viral nature, Pump.fun has also gained popularity on overseas social media platforms, making it the first choice for many overseas KOLs and even celebrities to delve into crypto. As indicated above, Pump.fun naturally has the foundation for fostering fraudulent activities, and without surprise, various inappropriate practices have spread, including numerous counterfeit tokens issued under false pretenses.
Last month, Gyro reported on the Jenner token scam on Pump.fun, which was rampant in the period of celebrity token scams on the platform. Even though the person appeared in the stream, some claimed it was a “Deep fake.” Perhaps considering security or simply to enhance marketing appeal, Pump.fun officially launched its live streaming feature on May 29th.
In terms of user experience, the operation is quite smooth. After the token goes live, there is a button in the upper right corner to create a live stream, allowing users to stream orders live online. Finally, the winds of Web2 have arrived in Web3, with live streaming having more appeal compared to traditional page descriptions, as it provides a more direct experience of the imminent wealth. “Spend one more SOL, and you could be the next millionaire.”
After going live, MEME live streaming quickly spread, with noticeable effects. Although statistics are hard to quantify, most tokens experienced higher price fluctuations during live streaming, with users claiming that compared to other platforms, Pump.fun’s live streams attract more viewers and show more visible engagement. However, as excitement grows, problems arise.
Behind traditional short videos are robust review and operations teams. Unapproved live streams are either alerted or taken down. However, even in such cases, many hosts exhibit more outrageous behavior to garner attention, such as borderline adult content or sensationalizing facts.
If there is an unregulated and free live streaming platform, especially in the often sensationalized crypto world, combined with the overseas young audience jokingly referred to
