如果直播發生在Web3中

OST、BlockBeats

Pump.fun, a Solana-based meme coin platform, has seen a recent surge in activity, with over 1.17 million tokens being released on the platform since its launch a few months ago, generating total revenue of over 50 million USD. This phenomenon has sparked discussions within the crypto community regarding the role of live streaming in Web3 and the potential for new narratives following the rise of Pump.fun.

基於 Solana 的 meme 幣平台 Pump.fun 最近的活動激增，自幾個月前推出以來，平台上已發行了超過 117 萬枚代幣，總收入超過 5000 萬美元。這一現象引發了加密社群內部關於直播在 Web3 中的作用以及 Pump.fun 崛起後新敘事潛力的討論。

Recently, Pump.fun officially boosted its live streaming feature again. In the early hours of November 22, a jobless youth from North America stated during a live stream on Pump.fun that he would not stop streaming until the market value of his token (LIVE) reached 100 million. This live stream was also selected by Pump's official team and featured on the homepage. After hitting 100,000 USD in internal trading, the LIVE token surged, and later KOLs like gmony participated in real-time interaction online, ultimately pushing the market value of the LIVE token above 20 million USD.

近日，Pump.fun正式再次上線直播功能。 11月22日凌晨，一位來自北美的失業青年在Pump.fun的直播中表示，直到他的代幣（LIVE）市值達到1億，他才會停止直播。本次直播也被Pump官方團隊選中並在首頁推薦。內部交易衝破10萬美元後，LIVE代幣暴漲，隨後gmony等KOL在線上參與即時互動，最終將LIVE代幣市值推至2,000萬美元以上。

After the "live streaming guy" became popular, Pump.fun's official website saw a surge in live streaming, with various streamers showcasing their skills to boost the price of their tokens, making Pump.fun gradually resemble a "meme coin version of Kuaishou."

「直播達人」走紅後，Pump.fun官網直播量激增，各路主播各顯神通，抬高幣價，讓Pump.fun逐漸像個“表情幣版快手”。

In traditional internet, the "attention economy" industry has developed for about 20 years, transitioning from forums and tieba to image and text microblogging, and then to short video and live streaming. Such a trajectory is also playing out in the crypto field.

傳統網路中，「注意力經濟」產業發展了20年左右，從論壇、貼吧，到圖文微博，再到短影片、直播。這樣的軌跡也在加密領域上演。

On May 29, Pump.fun announced the launch of its live streaming feature. For a website focused on making money from meme coins, users indeed have no demand for watching live streams. However, as the form of communication with the highest information capacity and the most scene sense and emotional impact, combined with the asset issuance function, live streaming is a promising application scenario from the perspective of attention economy.

5月29日，Pump.fun宣布推出直播功能。對於一個專注於表情幣賺錢的網站來說，用戶確實沒有觀看直播的需求。但直播作為資訊容量最高、最具場景感和情感衝擊力的傳播形式，結合資產發行功能，從注意力經濟的角度來看，是一個很有前景的應用場景。

In Web3, the path to commercialization is entirely different from that of traditional internet, but in terms of attention economy, typical cases from Web2 can provide some insights for the crypto industry.

Web3的商業化路徑與傳統網路完全不同，但在註意力經濟方面，Web2的典型案例可以為加密產業提供一些啟示。

Taking Kuaishou as an example, in 2013, Kuaishou, which had been around for less than two years, decided to transform from a GIF-making tool into an internet community. Users produced content on Kuaishou, recording and sharing their lives and creativity through short videos, and interacting with fans. Unlike emerging platforms like Douyin, Kuaishou's user positioning is "the average person in society," primarily targeting young people in second- and third-tier cities.

以快手為例，2013年，成立不到兩年的快手決定從GIF製作工具轉型為網路社群。用戶在快手上製作內容，透過短影片記錄和分享自己的生活和創意，並與粉絲互動。與抖音等新興平台不同，快手的用戶定位是“社會普通人”，主要針對二、三線城市的年輕人。

In 2014, YY streamers with a loyal fan base in the sinking market joined Kuaishou, which had a monthly active user count of 1 million at that time. By the end of 2016, Kuaishou's monthly active users exceeded 64 million. During the rapid growth of Kuaishou in those two years, YY streamers occupied four of the top streamer spots on Kuaishou.

2014年，在下沉市場擁有忠實粉絲的YY主播加入了當時月活躍用戶數100萬的快手。截至2016年底，快手月活躍用戶突破6,400萬。在快手快速發展的兩年裡，YY主播佔據了快手前四名主播的位置。

Kuaishou maintained the characteristics of the sinking market community, not signing internet celebrities or stars, not providing traffic support, and encouraging the vigorous development of UGC content through a fair algorithm mechanism. Compared to other products at the time, Kuaishou stood out with its unique "decentralized community" model.

快手保持了下沉市場社群的特點，不簽約網紅、明星，不提供流量支持，透過公平的演算法機制​​鼓勵UGC內容的蓬勃發展。與當時的其他產品相比，快手以其獨特的「去中心化社群」模式脫穎而出。

In 2017, Kuaishou seized the live streaming dividend first, becoming the largest single live streaming platform globally. According to Kuaishou's prospectus, from 2017 to 2019, the company's revenues were 8.3 billion, 20.3 billion, and 39.1 billion yuan, respectively, with live streaming revenues of 7.9 billion, 18.6 billion, 31.4 billion, and 17.3 billion yuan, accounting for 95.18%, 91.63%, 80.31%, and 68.38%, respectively. It is evident that live streaming was Kuaishou's core business and its foundation at that time.

2017年，快手率先抓住直播紅利，成為全球最大的單一直播平台。根據快手招股書顯示，2017年至2019年，公司營收分別為83億元、203億元、391億元，其中直播收入分別為79億元、186億元、314億元、173億元，佔95.18% 、91.63%、80.31%、68.38%。可見，直播是當時快手的核心業務和基礎。

After its rapid development, Kuaishou had to adjust its content ecosystem. After all, traditional Web2 companies need to undergo commercialization transformation. In this process, only those content producers who meet high consumer levels, satisfy traditional social values, and survive in fierce competition can remain in the end.

快速發展後，快手不得不調整其內容生態。畢竟，傳統Web2公司需要商業轉型。在這個過程中，只有那些滿足高消費水準、滿足傳統社會價值觀、在激烈競爭中生存下來的內容生產者才能最終生存下來。

Looking back, rather than saying Kuaishou successfully navigated the sinking market, it is more accurate to say Kuaishou targeted the new user market in the attention economy sector. Similarly, the token issuance platform aimed at crypto newcomers does not need to consider "commercialization transformation."

回過頭來看，與其說快手成功駕馭了下沉市場，不如說快手瞄準了注意力經濟領域的新用戶市場。同樣，針對加密新人的代幣發行平台也不需要考慮「商業轉型」。

In traditional internet giants, whether content platforms or shopping platforms, they all hope to show users

在傳統網路巨頭中，無論是內容平台或購物平台，都希望向使用者展示