Pump.fun Pioneers Creator Capital Markets with Crypto Livestreaming on Solana
The term "creator capital markets" was coined in 2025 as Pump.fun began monetizing livestreaming via crypto tokens on the Solana blockchain. On April 4, 2025, Pump.fun relaunched its streaming platform with stricter guidelines following a wave of dangerous stunts during 2024.
The company planned an initial coin offering (ICO) for its $PUMP token on July 12, 2025, including an airdrop, with ambitions to disrupt major streaming platforms using Solana technology. In September 2025, Pump.fun revamped its fee model, resulting in a tenfold increase in creator earnings; one notable day recorded over $4 million in creator fees.
To expand its reach, Pump.fun began onboarding traditional creators by hiring recruiters and providing streamer backpack kits. The contracts signed were short-term and included provisions controlling streaming time and token supply. High-profile creators such as Chad Tepper and BunnyFuFuu joined the platform, while Jake Hillhouse's Basedd House helped raise awareness of this new model. Creators Iseem and Whish also gained prominence through Pump.fun.
Tokens associated with creators often experienced initial surges followed by declines. For example, Bagwork surged 2,000% and generated $49,000 in fees early on, alongside $83,000 originating from Drake-related content. However, Bagwork later dropped 96% from its all-time high to a $1.9 million market capitalization.
The sustainability of this creator capital markets model faced concerns as initial hype faded. Industry leaders advocated for longer-term community activations, but there was no clear strategy addressing reliance on sensationalist content. Plans regarding policy and strategy for 2026 remain uncertain.
