The post Solana’s Tensor Teases Social Trading App to Rival Pump.fun appeared on BitcoinEthereumNews.com.

Tensor, the Solana-based NFT marketplace, teased more details about its latest venture: Vector.fun, a new platform that will blend social engagement with token trading in a mobile-first app across multiple blockchain networks. The company’s founders shared details about the trading platform on social media on Tuesday, emphasizing that its development spun out of NFT fatigue and the market’s attention becoming “tokenized memetic.” “We saw an explosive new market emerge out of nowhere and we realized it was going to be the horse of this cycle. We knew we had to go in and win,” said Tensor co-founder Ilja Moisejevs on Twitter (aka X). “Just like early NFTs—there was no shortage of trading products… and just like early NFTs—they all sucked. We thought we could do better. So we imagined a 10x experience,” he posted. The platform, which has been in private beta for the last few months, aims to redefine trading by combining it with social interaction in a SocialFi experience. In other words, Tensor aims to put the meme coin banter, flexing, and community-building all in one spot. “Trading crypto with your internet friends and bonding over the latest meme is SocialFi. Building a great social trading experience is SocialFi. Vector is SocialFi,” said co-founder Richard Wu. A waitlist for early access was open for a brief period early this week, but intense demand forced the team to discontinue signups. Waitlisted parties are expected to get a chance to use Vector.fun in the next few weeks as the team gradually rolls out access. Holders of the company’s NFT collection, Tensorians, can skip the waitlist by confirming ownership via Discord. Tensor rose to prominence in the late stages of 2023, stealing Solana NFT trading volume from Magic Eden while achieving a market share as high as 85.2% in January 2024,…

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Filed under: News - @ November 14, 2024 8:19 pm