Pump.fun, a Solana-based meme coin launchpad, initially disabled its livestreaming feature in 2024 after creators promoted risky stunts to boost their tokens. Now the platform positions creators and livestreamers as central to its future, aiming to rival Facebook, TikTok, and Twitch by letting audiences directly fund creators through crypto tokens—a shift from traditional donation models. Fee structure changes in September 2025 dramatically increased creator earnings, producing viral moments and large payouts. However, this also intensified incentives for controversial stunts to maintain hype and token value. Pump.fun invested in hardware, paid users to promote content, and recruited mainstream influencers via short-term contracts, resulting in brief surges in token prices and creator income. But attention and trading volumes typically crashed soon after, causing many influencers to leave. The platform’s most notable successes emerged from homegrown talent like Basedd House and Bagwork, who netted tens of thousands through viral, sometimes legally dubious, antics. Overall, the model’s dependence on sensational content raises concerns about sustainability. Some creators suggest more interactive features to encourage healthier long-term engagement, as Pump.fun and the wider “creator capital market” seek stable growth beyond hype cycles.