New Solana Token by Venmo Co-Founder Soars
Iqram Magdon-Ismail, co-founder of Venmo, and early investor Sam Lessin have launched JELLYJELLY, a new Solana-based token tied to an upcoming video-sharing app. The token debuted on the Pump.fun launchpad and quickly surged to a $250 million market cap.JELLYJELLY Market Performance
JELLYJELLY’s price skyrocketed 1,278% from its initial market cap of $18.38 million to $253 million within four hours. It later retraced 42%, settling at a market cap of $145 million. The token’s rapid appreciation followed a social media post by Lessin, which led to speculation about its potential integration into a new product.JELLYJELLY Token and Upcoming Video App
The JELLYJELLY token will grant holders early access to the JellyJelly video chat app. This platform, currently in development, aims to revolutionize video communication by incorporating AI-driven features that automatically caption, title, and generate social media clips from video calls.Web3 Startups Leveraging Token Launches
JELLYJELLY represents a growing trend of Web3 startups using tokens to drive early adoption and raise capital. Other notable projects include Vine Coin (VINE), launched by Vine co-founder Rus Yusupov, which peaked at a $475 million market cap. Similar initiatives, like AI16Z, have also used crypto tokens to fund product development and generate early user engagement. Although the exact integration of JELLYJELLY into the JellyJelly app remains unclear, the token’s rapid rise highlights the increasing use of Web3 strategies to fuel innovation in consumer technology.
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