With the continued rise of interest in meme coins, a leading Solana NFT MarketplaceTensor, launches Vector.fun.
Essentially, the project can be described as a SocialFi experience combining trading and social engagement in a single mobile application.
The road to Vector.fun
Tensor’s Gen Z-focused approach attempts to make coin trading more accessible to “normies,” as Tensor co-founder Ilja Moisejeves said on X. According to Tensor’s founders, everything related to trading and crypto is “intrinsically social”. The main way to do this is to make it a shareable experience, bringing out the essence of community commerce.
“It’s a new way of doing business. It’s Internet finance in every pocket. This is how your normie friend gets into cryptography. It’s the #1 app on the Appstore in 2025. Or it’s a fucking dud and I’ll be fired. I guess we’ll find out. said Ilja Moisejevs, co-founder of Tensor on X.
As co-founder Richard Wu describe on X, the idea for the project was born from the need for a solution to NFT fatigue. The project was developed over the past eight months, a process the founders described as grueling.
“I probably had 1 weekend off since TGE. One of our BD guys retrained as a PM to help with the load. People worked 20 hours a day. The engineers were sleeping in the office. Hundreds of feedback calls. Thousands of PRs. If you think Tensor was built quickly…. my god let me tell you this thing is 10 times more complete and was built 10 times faster. The team was stupid locked up. said Ilja Moisejevs, co-founder of Tensor on X.
Earlier this week, they opened early access to their waitlist. Shortly after, they had to suspend registrations due to high demand, an auspicious sign. Those who have already registered will have access to it in the coming weeks. The existing holders of their NFT the collection can confirm ownership on Discord.
In 2023, Tensor has established itself as a strong player in Solana NFT space. But as they launch this trading terminal, it remains to be reiterated that success remains to be seen as they enter this highly competitive atmosphere.
Over the past year, meme coin trading has exploded, largely thanks to Pump.fun, which allows users to create tokens easily and inexpensively. Some tokens, like Peanut the Squirrel (PNUT) and Goatseus Maximum (GOAT), have even reached impressive market capitalizations, bringing substantial gains to early investors.
Even with awesome examples like these, most meme pieces die a quick death. History has proven the same for SocialFi.
The sad saga of SocialFi
At the end of 2024, SocialFi platforms like Farcaster, Lensand Friend.Tech started to see a sharp decline in user activity. Farcaster, a platform focused on user privacy and data control, experienced a substantial decline in daily active users (DAU), from 67,000 in July to 34,000 in October, despite acquiring $150 million in funding earlier this year.
Friend.Tech also saw revenue fall. Initially generating over $4 million in fees in September 2023, developers have since relinquished control of its smart contract.
Now they can no longer make changes or claim ownership. Since June, the project has no longer generated any income.
These struggles highlight the challenges of maintaining user interest in the SocialFi space despite significant investment and early enthusiasm. However, the recent meme coin craze serves as the perfect launching pad for Vector.fun to take off, testing the arena for Preparing for SocialFi in the community.
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