As a web2 product that provides an "immersive experience" in the form of content, Tik Tok's live broadcast makes people realize how simple it is to gather traffic in a way that breaks imagination. Traffic monetization channels such as rewards and product promotion also allow content producers to have the ability to compete with platform capital to a certain extent.
What products in web3 can help you quickly get a chance to own a local dog? Let's take a look.
Pump.fun is the most special product in this cycle. Since its launch more than 4 months ago, more than 1.17 million tokens have been issued on Pump.fun, and the cumulative revenue has exceeded 50 million US dollars. If you find a target, you will understand how terrifying this number is. Uniswap, the top traffic product in the bull market, is estimated to have an annual revenue of about 25 million to 30 million US dollars for Uniswap Labs.
It can be said that Pump.fun is not a typical Web3 project. It does not have a complex token economics model or a DAO governance mechanism, but with its precise market positioning, Pump.fun has created a business market that is sure to make a profit.
There are many practical reasons for the emergence of the meme craze. The crypto narrative in this bull market is not as attractive as before. Compared with the "value coins" with opaque chip distribution and grand but unrealized narratives, newcomers are more willing to use memes as their first stop to experience the circle.
Behind this, more and more users have seen through the logic of PVP. No matter how varied the narrative is, it is just to create a big enough plate for the next person to take over. The market is not short of people who issue coins, but people who can tell a good story about issuing coins. Since the consensus of the community has become that the essence of value coins is also a kind of air coin, it is better to do it in one step and issue coins yourself. The birth of Pump.fun is just in time.
The emergence of Pump.fun allows users to publish their own meme coins with one click at a very low cost. Rounds of memes take off and crash in a few hours. More than 10,000 tokens are released on Pump.fun every day, accounting for more than 80% of the total Solana ecosystem tokens. Recently, Pump.fun's daily revenue is between 450,000 and 1 million US dollars, and the total revenue has exceeded 50 million US dollars since its launch a few months ago.
Not only that, the relationship between pump.fun and the Solana ecosystem is becoming increasingly close. It not only enjoys its ecological dividends, the cost advantages of project launches on the Solana network and the low threshold for participation costs; at the same time, it has injected new innovative power into the Solana ecosystem to a certain extent. For example, the market value of the BILLY emoji token once exceeded US$100 million, bringing new traffic and liquidity to the Solana ecosystem.
To put it another way, pump.fun has achieved a perfect combination of asset issuance efficiency and fair distribution of chips, thus complementing this round of market cycle.
After seeing the terrifying money-making ability of pump.fun, many project owners and platforms in the market became jealous, and a number of similar "one-click coin issuance" platforms gradually emerged.
In late June, the real-time DEX analysis platform Dexscreener released a pump.fun-like token issuance platform called Moonshot. It is worth mentioning that the platform does not use a separate new website, but a built-in page on the Dexscreener platform. The specific project threshold and transaction page are also relatively simpler, which is much less visually stressful than the page of pump.fun with dense numbers and constantly jumping numbers. Of course, perhaps because of these reasons, the numerical fluctuation stimulation that Moonshot gave me was lower.
Soon after its launch, Moonshot has also achieved a lot of results. Not only did it launch tens of thousands of tokens in just a few days, but the price performance of tokens such as SC was also extremely good.
We.Rich is a one-click coin issuance platform similar to pump.fun in the Base ecosystem. It has similar functions, but the Base ecosystem and pixel-style UI interface are the two major features of the platform.
However, judging from the update frequency of its official Twitter account and the information on its official website, the project has not achieved similar results to pump.fun. Instead, it feels a bit struggling. The platform projects are also mixed, and there is no shortage of projects containing adult image materials.
In addition, according to its official website, the transaction amount of the platform project is also extremely pitiful. It can be seen that the trading activities are not active.
At present, there is still no competitor in the market that can compete with pump.fun or even pose a certain threat to it. The most likely reasons are as follows: first, the emotional craze of Meme coins has subsided, market attention and market liquidity are in a state of aggregation, and pump.fun has occupied an excellent ecological niche with its first-mover advantage; second, the new platform lacks a sustained wealth-making effect, and it is difficult to give full play to the attention economy advantage of Meme and attract liquidity in a wider range through Meme coins. Finally, a low threshold for issuing coins does not mean that there is no threshold, and a low participation threshold does not mean that users are willing to participate in loss-making transactions. The focus of the one-click coin issuance platform is still to stir up a wider range of liquidity, rather than simple PVP.
In the Meme coin project market in the first half of the year, we can clearly see that Meme coin is a zero-sum game field. Therefore, on the one hand, it is extremely dependent on the large amount of funds and high liquidity brought by whales and crocodiles. On the other hand, it relies on a good narrative, memorable materials and a gimmicky background to achieve further dissemination and discussion, so that more retail investors in the market can participate. Therefore, in the current situation where the market fluctuates back and forth, for many Meme coin players, pump.fun is enough as a platform. At present, there is no overflow liquidity to support the survival of more platforms. Therefore, the stories of getting rich quickly like JENEE, MOTHER and other projects may become a "swan song" that is difficult to be staged again.
