Unreleased Music Fuels Crypto Hype: Pump.fun Streamers Cash In

A pair of crypto livestreamers known as Bagwork allegedly played unreleased tracks from Drake and Future on Pump.fun, igniting a surge in their Solana meme coin's value. The duo reportedly earned over $83,000 in creator fees in just two days as a result.

Drake Responds

The incident caught the attention of Drake himself, who contacted streamer Adin Ross to inquire about the emerging content creators. Drake's reaction was one of bewildered curiosity, adding fuel to the fire.

Viral Stunts and Crypto Gains

Bagwork, believed to be two 19-year-olds, have been making waves with a series of viral stunts, including invading a Los Angeles Dodgers game and one member getting slapped by gym influencer Bradley Martyn. These antics contributed to their token's rapid growth, peaking at a $53 million market cap.

Pump.fun and Creator Capital Markets

Pump.fun rewards coin creators with a percentage of trades, allowing Bagwork to profit without selling their tokens. This highlights the growing trend of "creator capital markets," where livestreaming is linked to crypto tokens. Pump.fun has seen a surge in popularity, with creators earning significant rewards through this model.

Key Takeaways

• Leaked music can have a significant impact on crypto markets, especially for meme coins.
• Creator capital markets are emerging as a new way for content creators to monetize their work.
• Pump.fun's fee model incentivizes creators to engage with their communities and drive token growth.
• The platform also showcases some controversial use cases that stretch community guidelines.