Pump.fun Advances Creator Capital Markets on Solana with Tokenized Streaming and ICO Launch
Pump.fun has pioneered 'creator capital markets' on the Solana blockchain, enabling viewers to fund content creators through crypto tokens and acquire stakes in the content they support. On April 4, 2025, Pump.fun introduced an updated streaming platform featuring stricter guidelines and moderation, with a gradual rollout designed to avoid the previous platform's chaotic issues.
In September 2025, the platform overhauled its fee model, significantly boosting creator earnings. On one standout day, over $4 million was paid out in creator fees. To further expand its reach, Pump.fun shipped streamer backpack kits and hired recruiters to onboard traditional creators into the crypto-powered ecosystem. High-profile recruits included influencers like Chad Tepper of Team 10 and BunnyFuFuu. The platform also launched new tokens such as BUNCOIN, which featured a buyback plan with the initial purchase of 53 SOL already completed.
Pump.fun experienced volatile viral moments leading to sharp short-term token gains followed by steep declines. For example, Bagwork surged approximately 2,000% after publicity stunts including leaks related to Drake, earning around $83,000 in two days but subsequently falling about 96% from its all-time high. While creators and traders benefited during hype phases, concerns remain about sustainability as profits tend to fade when attention wanes.
To address this, proposals suggest shifting towards longer-term, token-based community activations rather than relying solely on sensational content. On July 12, 2025, Pump.fun announced an initial coin offering (ICO) for its $PUMP token paired with an airdrop, aiming to further consolidate its position in the creator capital markets space.
