Pump.fun plans $1B token sale to reach unicorn status
The platform became the place of creation of 11 million tokens for $4.5 billion
According to Blockworks, citing multiple sources familiar with the matter, Pump.fun is planning a $1 billion token sale in the coming weeks, with participation from both public and private investors.
Pump.fun, a memecoin platform that allows anyone to instantly launch and promote their own token on the Solana blockchain, has already generated over $700 million in cumulative revenue in less than 18 months.
Revenue of Pump.fun. Source: Blockworks Research
According to Blockworks Research, users have created nearly 11 million new tokens through the platform, with a combined market cap of approximately $4.5 billion.
Massive token sale ahead
Now, Pump.fun aims to solidify its success by officially achieving crypto unicorn status. The platform is reportedly preparing to launch its own native token, offering it to investors within the next two weeks.
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Based on a $4 billion valuation, Pump.fun plans to sell tokens worth $1 billion. While Blockworks sources did not provide details, it's likely the token launch will take place directly on Pump.fun's own platform.
Amid increasing competition among token-launch platforms, Pump.fun has revamped parts of its core business—most notably, launching its own AMM (automated market maker) and ending its informal collaboration with Raydium.
The platform also recently launched a mobile app and relaunched its livestreaming feature, which was temporarily paused late last year due to moderation complaints.
As we wrote, Pump.fun sells SOL for $16 million
