An increasing number of companies are launching Solana tokens to sidestep traditional fundraising methods, achieving significant market capitalizations despite concerns over product legitimacy. The concept of 'internet capital markets' has gained traction since 2024, initially popularized by the token launch of Vine Coin, which hinted at a revival of the and later by podcasting app JellyJelly, whose founder described the token as a strong marketing tool. Recently, the launch of Jelly-my-jelly (JELLYJELLY) by former Venmo co-founders saw a rapid rise to a $250 million market cap. However, many of these products are criticized as 'vaporware.' The creation of the Believe launchpad, which allows for revenue sharing, has also contributed to this surge, with tokens like Dupe experiencing extreme market fluctuations. Critics argue that such fundraising approaches provide a democratized alternative to traditional venture capital, although skepticism remains about their long-term viability. Experts suggest the market's volatile response is healthy for innovation, potentially leading to more robust projects in the future.

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