From memecoins to tech IPOs?

Solana co-founder Raj Gokal and other top crypto investors and analysts believe the memecoins’ craze will evolve into “tech IPOs.”

Solana co-founder Raj Gokal and other leading crypto investors and analysts believe the memecoins’ craze will morph into “tech IPOs.”

During an interview with Gokal, the Solana exec shared his projections for the next bull market, stating that instead of issuing traditional stocks during an initial public offering (IPO), most firms will opt for crypto for token issuance to raise capital and drive user engagement.

“Instead of Everyone Launches a Website (Dotcom Boom), we’ll get Everyone Launches a Token (Dot Fun Boom),” Watkins Remarked.

"Trump memecoin, pro-crypto U.S administration. The Overton window has shifted. Expect new experiments, innovation (especially SocialFi applications) joining the fun.”

In particular, the VC exec highlighted Vine and Jelly Jelly, which are said to be SocialFi platforms with issued tokens.

“If individuals can launch memecoins, why can’t businesses? This isn’t just a U.S. phenomenon — it’s global. If Vine and Jelly Jelly are any indication, we’re on the verge of an explosion of new “startup” assets on blockchains, especially Solana. Some will have utility. Some will be outright scams, as expected. But a handful may create lasting societal value.”

For context, Vine is a defunct short-video platform similar to TikTok. On the other hand, Jelly Jelly is a video chat service reportedly created by Venmo founder Iqram Magdon-Ismail.

However, some within the community have alleged manipulation of the said tokens. For instance, Jelly Jelly dropped by nearly 80% in less than 24 hours after its launch. It fell from a $280M market cap to below $75M on the charts.

Moreover, Pump.fun, the memecoin launchpad on Solana, is facing another class action lawsuit, according to Burwick Law.

The firm alleges its clients suffered losses from Griffain, PNUT, and other memecoins marketed by Pump.fun (operated by Baton Corporation). The legal outcome and impact on the token issuers remain to be seen.

That being said, unless there are clear regulatory guidelines to navigate the token-driven “tech IPO vision” touted by Gokal, the firms could face legal pressure.