Pump.fun Surpasses $100M Revenue as Polymarket Outshines NFTs

In Brief:

Pump.fun, a memecoin launchpad, has generated over $100 million in revenue since its January launch, with developers earning a 1% fee on transactions.

Polymarket surpassed NFT trading volume in August, with $463 million traded, driven by speculation on events like the 2024 Presidential Election.

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Pump.fun Surpasses $100M Revenue as Polymarket Outshines NFTs

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Pump.fun, a popular memecoin launchpad, has achieved a significant milestone, surpassing $100 million in cumulative revenue since its launch in January 2024. The platform, which charges a 1% fee on transactions, allows users to speculate on memecoins, capitalizing on branding and community value despite their lack of intrinsic value. Recently, Pump.fun eliminated the cost of deploying a token, further encouraging memecoin creation.

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Polymarket's Trading Volume Surpasses All NFTs

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Meanwhile, Polymarket, a decentralized prediction marketplace, has outperformed all NFTs across chains in August, with a trading volume of $463 million compared to NFTs' $377 million. The platform's active trader population has grown, particularly as the 2024 Presidential Election approaches. Polymarket, which counts election forecaster Nate Silver as an advisor, currently shows Donald Trump leading Kamala Harris in election predictions, with substantial bets placed on the outcome.

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