The founder issued 200 million US dollars in currency, and Musk’s short video Vine made a comeback

Author: Golem, Odaily Planet Daily

This morning, another speed pass appeared on the Solana chain - VINE. The token has the same name as Vine, the short video platform that Twitter announced to shut down in 2016. Its market value exceeded US$100 million just one hour after it went online, and then fell back to US$5 million in a short period of time. However, after Vine co-creator Rus Yusupov claimed his dev status in a post on Twitter, the price of VINE skyrocketed to a market value of US$240 million, which is still around US$200 million.

Vine is a short video platform similar to TikTok that allows users to create short videos up to 10 seconds long and share them on social networks. The platform was launched in June 2012 and was co-founded by the three founders Dom Hofmann, Rus Yusupov and Colin Kroll; it was acquired by Twitter (now named The company's restructuring plan announced the closure of Vine.

Musk mentioned Vine many times, and the market continued to rise

After Musk acquired Twitter, he repeatedly expressed the idea of ​​restarting Vine on social media.

On October 31, 2022, Musk launched a poll on Twitter to ask whether to restore Twitter's short video application Vine. The results showed that 69.6% of users who participated in the vote supported the restoration of Vine. After the voting results were announced, Musk immediately instructed the Twitter engineering team to restart the short video application Vine on November 1, 2022, and announced that it would be ready by the end of that year, but nothing happened since then.

On April 18, 2024, Musk launched the same vote on the X platform, asking whether Vine should be relaunched. Meme coins have already emerged on Ethereum in 2024, so there were multiple Meme coins with the same name as Vine on Ethereum at that time, with the highest market value reaching US$7 million, which has now reached zero.

After a year, Musk once again mentioned restarting Vine, but this time he did not initiate a vote. On January 19, a user said on the X platform Aite Musk that "it's time to restart Vine", and Musk responded that he was "considering it."

On that day, multiple Meme coins with the same name as Vine appeared on the Solana chain. Among them, the Meme coin (Fun...D4AU) with the highest market consensus has a market value exceeding US$10 million.

The founder of Vine personally issued coins

Although there are many meme coins with the same name as Vine on the market, none of them have been recognized and interacted with by Vine or Musk.

What is quite dramatic is that this morning, Rus Yusupov, one of the co-founders of Vine, issued a Meme coin of the same name. Although he sold the short video platform Vine to Twitter 4 months after he founded it, and has no ownership of Vine since then and has not participated in subsequent development and maintenance, due to his status as "founder", the market quickly sold him The VINE (6A...pRpump) consensus of the issued currency is the leader. Other Meme coins with the same name are close to zero.

But FOMO is far from over. This afternoon, Rus Yusupov posted: "VINE tokens held by all developers are locked until April 20, and will continue to be locked until Vine is restarted." This news was announced, and VINE rose in response. , the market value exceeded US$100 million.

Rus Yusupov's address publicly holds 5% of the total supply of VINE, which is currently locked. Although dev lock-up is a good thing for the token, except for Rus himself who had a brief relationship with the Vine platform, the Meme coin with the same name issued by him is also a hot spot like other Meme coins and has nothing to do with the Vine platform. relationship, and the key point has always been Musk.

It is worth noting that after selling Vine, Rus Yusupov and Dom Hofmann started their own business again in 2017 to establish the live game interactive application HQ Trivia. In February 2020, HQ Trivia announced its closure. Although Rus Yusupov has since purchased the HQ franchise and maintained its operations, there have been no games since November 2022. HQ Trivia was also removed from the Apple App on August 5, 2023. Store and Google Play Store.

In the current market environment, Meme’s funding capacity has exceeded previous levels. Although Vine's Meme coin has been hyped many times in the past, it still attracts people's attention. It is unclear whether Musk will actually fulfill his promise to restart Vine this time.

Regardless of whether Rus Yusupov's behavior of issuing coins is to make money or to speak out for the Vine platform, it does not seem to be very unusual in a world where the President of the United States personally issues coins. After all, there are not many people like Ross Ulbricht, the founder of the Dark Web Silk Road, who are paying attention but do not take advantage of the popularity to issue coins.