Pump.fun Pioneers Creator Capital Markets With Crypto Streaming on Solana
Pump.fun, which coined the term 'creator capital markets' in 2025, has introduced a new model for funding livestreamer ecosystems on the Solana blockchain, allowing viewers to own stakes in creators via crypto tokens. The platform initially shut down livestreaming in 2024 due to concerns over dangerous stunts but relaunched on April 4, 2025, with updated guidelines and moderation and has been gradually expanding its livestreaming feature since.
On July 12, 2025, Pump.fun announced the launch of its $PUMP token through an initial coin offering (ICO) accompanied by an upcoming airdrop. This initiative aims to compete directly with major platforms such as Facebook, TikTok, and Twitch by leveraging Solana-based crypto technology.
In September 2025, Pump.fun revamped its fee model, significantly boosting creator earnings by tenfold. According to Dune data, the platform paid out over $4 million in creator fees in a single day. To broaden its reach, Pump.fun began onboarding traditional content creators by deploying streamer backpacks and recruiters, including notable figure Alec Strasmore. While contracts with creators covered streaming time and token-supply controls, the exact terms remain undisclosed.
Several established creators joined the platform, including Chad Tepper (Team 10) and BunnyFuFuu (Michael Kurylo). However, the associated tokens experienced volatility. Notably, Bagwork surged 2,000% following high-profile stunts and leaks involving Drake but later declined about 96% from its all-time high. The first BUNCOIN buyback purchase was recorded at 53 SOL (approximately $10,000). Basedd House also highlighted this market volatility.
The events of 2025 revealed an ongoing reliance on sensational viral moments to drive interest and value. Both creators and investors have expressed concerns about the sustainability of this approach, advocating for more long-term, token-driven community engagement. As of the year's end, Pump.fun had not announced any public plans to address these issues.
