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Building Solana's Next Breakout App | Ilja Moisejevs & Richard Wu
Feb 7, 2025
Ilja Moisejevs and Richard Wu, co-founders of Tensor and Vector, discuss their innovative pivot from NFTs to Vector, a social meme coin trading app. They explore the rise of social trading, blending aspects of platforms like Twitter and Robinhood. The duo delves into the unique challenges of trading volatile micro-cap assets and the importance of user retention through community engagement. They also emphasize the integration of Tensor's token within Vector, focusing on decentralization and the evolving dynamics of tokenomics in the crypto landscape.
52:38
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Quick takeaways
- Tensor pivoted from NFTs to launch Vector, a social trading app capitalizing on the rising popularity of meme coins.
- Vector distinguishes itself by integrating social interaction into trading, offering a more engaging experience compared to traditional trading platforms.
Deep dives
Transition from NFT to Meme Coin Trading
The founders of Tensor recognized a decline in the NFT market and shifted their focus towards launching a social meme coin trading app called Vector. They observed that while NFTs were popular, the market was not large enough to sustain their ambitions. The key thesis underlying both Tensor's NFT marketplace and Vector is the rapid movement of assets on a low-fee blockchain, necessitating a platform that facilitates quick transactions. As meme coins gained traction, this new direction allowed them to capitalize on the heightened interest in trading fungible assets through a unique mobile and social experience.
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