Solana's
Tensor Teases
Social Trading App to Rival
Pump.fun
Solana's Tensor Teases Social Trading App to Rival Pump.fun
The makers of Solana NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен marketplace Tensor are teasing a new SocialFi app
called Vector.fun, which could be poised to take on Pump.fun.
By Logan Hitchcock
Nov 13, 2024 Nov 13, 2024
3 min read
A still from Vector.fun's teaser trailer. Image: Vector.fun
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Tensor, the Solana-based NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен marketplace, teased more details about its latest
venture: Vector.fun, a new platform that will blend social engagement with
token trading in a mobile-first app across multiple blockchain networks.
The company• Объект организация » Организации по алфавиту » Организации на Ju » Jupiter (компания)’s founders shared details about the trading platform on social
media on Tuesday, emphasizing that its development spun out of NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен fatigue and
the market’s attention becoming “tokenized memetic.”
“We saw an explosive new market emerge out of nowhere and we realized it was
going to be the horse of this cycle. We knew we had to go in and win,” said
Tensor co-founder Ilja Moisejevs on Twitter• Коммуникации » Интернет-коммуникации » Интернет-сообщество » Социальные сети » Х (Twitter) (aka X). “Just like early
NFTs—there was no shortage of trading products… and just like early NFTs—they
all sucked. We thought we could do better. So we imagined a 10x experience,”
he posted.
WTF IS VECTOR?
FOLLOW + NOTIS ON ð pic.twitter.com• Коммуникации » Интернет-коммуникации » Интернет-сообщество » Социальные сети » Х (Twitter)/0EWY1TnjSV
— VECTOR (@VECTORDOTFUN) November 12, 2024
The platform, which has been in private beta for the last few months, aims to
redefine trading by combining it with social interaction in a SocialFi
experience. In other words, Tensor aims to put the meme coin banter, flexing,
and community-building all in one spot.
“Trading crypto with your internet• Телекоммуникации и связь » Компьютерная сеть » Интернет friends and bonding over the latest meme is
SocialFi. Building a great social trading experience is SocialFi. Vector is
SocialFi,” said co-founder Richard Wu .
A waitlist for early access was open for a brief period early this week, but
intense demand forced the team to discontinue signups. Waitlisted parties are
expected to get a chance to use Vector.fun in the next few weeks as the team
gradually rolls out access. Holders of the company• Объект организация » Организации по алфавиту » Организации на Ju » Jupiter (компания)’s NFT collection• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен,
Tensorians, can skip the waitlist by confirming ownership via Discord.
Tensor rose to prominence in the late stages of 2023, stealing Solana NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен
trading volume from Magic Eden while achieving a market share as high as 85.2%
in January 2024, according to data from Andrew Hong’s Solana NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен marketplace
Dune dashboard .
Upon launch, Tensor’s Vector.fun will enter a highly competitive space and
compete directly with notable meme coin trading terminals like Photon, BullX,
and Jupiter• Объект организация » Организации по алфавиту » Организации на Ju » Jupiter (компания)’s ApePro, which have gained notoriety for their trading speed and
meme coin discoverability.
Meme coin trading, particularly on Solana, has been on fire this year. That’s
been led in large part by the Solana meme coin factory Pump.fun, which made it
cheap and easy for just about anyone to launch a new token.
Since the start of the year, users on Pump.fun have created more than 3
million new meme coins , according to data on Dune. A few of those tokens—such
as Peanut the Squirrel (PNUT) and Goatseus Maximum (GOAT)—have grown to
sizable market caps and earned early entrants considerable gains .
Trading meme coins, though, comes with hefty risks, as most new tokens die
quick deaths . The biggest winners of the meme coin craze are arguably the
trading platforms that host them. Pump.fun, for instance, has so far earned
more than $180 million in revenue from degens creating and flipping tokens.
Will Tensor be able to take on the incumbent and get a slice of that pie? It’s
done it before.
Edited by Guillermo Jimenez and Andrew Hayward
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