The demonization of Pump Live: a farce accelerated by the Guinness record creator

Original | Odaily Planet Daily ( @OdailyChina )

Author｜Nan Zhi ( @Assassin_Malvo )

At 23:00 last night, a Pump token named Stream until 100 M MC ( LIVE ) was born. The developer (dev) of the token said that it will continue to live broadcast until the market value of LIVE exceeds 100 million US dollars. Although Pumps live broadcast function has been launched for half a year and is not a new thing, as there were no other hot spots in the market last night, funds flocked to LIVE.

The market value of the LIVE token rose by more than $10 million within an hour of its creation, and reached $25 million at 3 a.m., but it did not continue to break through. DEV is currently far from the $100 million target and is still a long way from going offline. As of the time of writing, it has been live for nearly 19 hours.

Live streaming is becoming demonized

At noon today, another man named NORME also created a token with the same gameplay, LIVE ON TOILET UNTIL 50 M (SHITCOIN). It is worth noting that NORME is currently the Guinness World Record holder for the longest time awake, having set a record of 265 hours without sleep .

The background of NORME and the popularity of LIVE that has not yet dissipated made SHITCOIN reach a market value of 8 million US dollars in a very short period of time, and the concept of live streaming began to ferment and become abstract.

Then this afternoon, a large number of pornographic live broadcasts issued coins, and some even issued a token that said lock up grandma until the token market value reaches $1 million. After checking, it was found that the same version of the token existed seven months ago , which was a re-organization of old works while taking advantage of the popularity.

Culture, narrative, consensus? Or a hype?

In the early stages of Meme, Meme was packaged as a carrier of community and culture, and it was believed that Meme tokens carried and condensed the communitys consensus on a certain concept. But when Pump handed over the right to issue tokens to the public, this statement was shattered. The only thing that was passed down was the core of the attention economy. Various Devs used various packaged and gorgeous rhetoric or eye-catching whole-life operations to attract attention and funds, and Meme transactions became a naked PvP battlefield.

Back in the early days of Pump.fun, a Dev “played with fire” when issuing coins, which also contributed to the short-term surge in the tokens, and then all kinds of pornographic live broadcasts and live shows began to appear frequently. Today’s demonized live broadcasts are just another reincarnation of AI aesthetic fatigue and lack of narrative.

As a deep Meme player, the author does not think that this chaos will end Meme or herald the end of the Meme track. On the contrary, the author believes that we are still in the middle stage of Meme development, but under this mass fantasy and collective madness , the overall acceleration and transformation turning point of the Crypto industry may be coming soon.

What is a Meme?

The following is a manuscript written by the author for a Meme project half a year ago, before Pump became popular, which explains the author’s understanding of Meme “narrative”.

original

Memecoins come and go like short videos on TikTok, most of them flash by and disappear in an instant. Agile hunters get ez money, naive gamblers lose their hard earned eth, but we can always hear the rallying cry of RAID THIS.

In the ethereal realm of Memecoin, the traditional laws of economics become but whispers in the wind, as value is imbued not by mere utility, but by the fervor and resonance of cultural relevance. It is a realm in which the abstract becomes tangible, where the absurd is celebrated, and where the value of a coin is measured not in material wealth, but in the currency of virality.

Within this surreal landscape, the memes themselves become currency. Through the alchemy of digital sorcery, these fleeting moments of nonsense and absurdity are crystallized into Memecoins.

For in the world of Memecoin, nothing is impossible, and the only constant is the ever-shifting tide of internet culture, forever immortalized in the digital ether. You can have fun with it and embrace it, hate it and fight it, or just ignore it, its all your call.

But never forget, CONSENSUS is the one and only lifeline of Memecoins.

Paraphrase

Memecoins come and go like short videos on TikTok, most flash by and are gone in the blink of an eye. Agile hunters gain money, naive gamblers lose their hard-earned SOL, but we always hear the slogan Go for it.

In the void realm of Memecoin, the laws of traditional economics are nothing more than whispers in the wind.

The value here does not come from pure practicality, but is endowed by the passion injected by cultural resonance and enthusiasm. In this field, the abstract becomes concrete, the absurd is respected, and the value of a coin is not measured by material wealth, but by the currency of communication – viral popularity.

In this surreal landscape, memes themselves become currency. Through the alchemy of digital magic, these fleeting nonsense and absurdity are crystallized into Memecoin. Because in the world of Memecoin, nothing is impossible. The only constant is the ever-changing wave of Internet culture, forever engraved in the digital ether.

You can have fun with it and enjoy it, or you can hate it and fight it, or even ignore it completely – its up to you.

But remember, “consensus” is Memecoin’s only lifeline.

This article is sourced from the internet: The demonization of Pump Live: a farce accelerated by the Guinness record creator

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