- Tensor has unveiled a Pump.fun-like platform known as Vector.fun
- The platform combines token trading with social interactions
- Vector.fun supports multiple blockchains and is enhanced for mobile users
NFT marketplace Tensor is expanding beyond the collectibles business to create a SocialFi platform called Vector.fun. Seen as a rival to the popular Pump.fun, the platform combines token trading with social interactions and is optimized for mobile users. Its creators noted that it explores an emerging market that’s “going to be the horse of this cycle,” indicating that the current slump in the NFT market may take longer to dissipate.
A “Tokenized Memetic” App
Tensor co-founder Ilja Moisejevs explained the new SocialFi platform on X saying that the idea was hatched eight months ago. He added that Vector.fun has “10X more features” than the NFT marketplace and was built 10X faster.
ok story time
wtf is @VECTORDOTFUN really
and how did it come about?@0xrwu and me came up with the idea over pizza 8 months ago (INSANE to think that much time passed).
We saw an explosive new market emerge out of nowhere and we realized it was going to be the horse of this… pic.twitter.com/U30zGU7NZZ
— ilmoi (@_ilmoi) November 12, 2024
According to Moisejevs, the platform provides an innovative way to trade and get friends into crypto. The co-founder disclosed that the app will be open to the public in 2025 and that it’s likely it’ll be the leading app on app stores.
Richard Wu, another Tensor co-founder, said that Vector.fun pivots towards a new wave he defined as “tokenized memetic,” a sign it focuses on trading meme coins.
wtf is @VECTORDOTFUN?
It’s the culmination of months of blood, sweat and Celsius.
Shortly after Season 3 ended, @_ilmoi and I got the team together for an offsite and broke the news that we had to reinvent ourselves.
Our beloved users were fatigued with the NFT market, and…
— Richard | Tensor (sol/acc) (@0xrwu) November 12, 2024
Pump.fun Has Already Made $180 Million
The unveiling of the new platform comes at a time when meme coin trading has been gaining traction this year. It also comes when other similar platforms have already attracted a following. Pump.fun, for example, has already made over $180 million as revenue from users creating and trading meme coins.
Tensor has been increasing its involvement in the crypto and blockchain spaces. Nine months ago, for example, it partnered with Solana to develop a gaming toolkit. NFT trading activities on the marketplace have also been increasing, putting Tensor ahead of Blur.
With Vector.fun resembling Pump.fun, it’s to be seen whether it has superior features compared to existing meme coin launchpads and trading platforms.
