'Internet Capital Markets' Explode as Companies Launch Products on Solana
Companies are increasingly launching Solana tokens to bypass traditional fundraising methods, achieving market capitalizations in the millions. This trend gained traction in 2024 with the introduction of Vine Coin by co-founder Rus Yusupov, despite no product revival. Other tokens, like JellyJelly's, served as marketing tools. The Believe launchpad, which shares fees with creators, has fueled this growth. Tokens from Dupe, Creator Buddy, and Uber.fun saw significant market cap fluctuations. Critics argue many projects are "vaporware," echoing concerns from the ICO era, where 46% of projects failed post-funding. Some view the current market as a "worst meme coin meta," while others believe it may lead to valuable innovations as the market matures.
