YouTube Co-Founder Backs ‘First Cat’ Memecoin
Steve Chen, the co-founder and former chief technology officer of YouTube, has been dedicating his time and resources to a memecoin initiative that harks back to one of the earliest cat videos posted on the platform. On May 27, in an interview with from Taiwan, Chen, whose net worth is over $1 billion, disclosed that he has been spending between 80 and 100 hours a week supporting the memecoin titled Pajamas (PAJAMAS).
The memecoin stems from Chen’s “first-ever cat video uploaded to YouTube” in 2005, and it is accessible on the Solana blockchain. The video, uploaded on May 22, 2005, is described as “This is my cat, Pajamas, playing and dancing to the tune of Nick Drake.” Despite his intense involvement now, Chen wasn’t initially part of the project at its inception. After being tagged by approximately a hundred users on the social media platform known as X, he decided to purchase the token.
Chen revealed that this memecoin venture is just one of the numerous projects he is currently engaging in within the tech space. His interests are diverse, ranging from an artificial intelligence-based exchange-traded fund to making investments in startups based in Taiwan. Sadly, Pajamas, the cat in the video, has passed away since the video was filmed nearly two decades ago. In a similar vein, Kabosu, the dog behind the famous Dogecoin (DOGE) meme, also passed away on May 24 at the age of 18.
Engaging more deeply in the Web3 sector through this project has exposed Chen to what he describes as a “complete emptiness of trust everyone has for everyone else.” He mentioned encountering numerous warnings from various individuals each time he intended to meet someone important or influential in the Web3 world. His experience on Telegram has been fraught with daily encounters involving at least 25 new individuals attempting to steal his money.
Cat memes and respective tokens have gained substantial backing from the crypto community as the influence of social media and the internet continues to surge. Notable movements in this space include CatCoin (CAT), whose creators have considered taking legal action against BitForex due to issues with withdrawals on the exchange. The Popcat (POPCAT) project, like Pajamas, also based on Solana, managed to generate a remarkable $63.4 million in trading volume within a single day in March.
Pajamas, which was launched in March, saw a significant market response. At the time of reporting, the memecoin had a market capitalization exceeding $20 million, and it was trading at roughly $0.02. This increasing market activity demonstrates the growing trend of integrating meme culture with decentralized finance, especially for projects leveraging blockchain technology.
Chen’s active participation in Pajamas and other technological initiatives showcases the varied dimensions of his interests and commitments beyond his legacy with YouTube. His roles extend to significant investments and backing of projects within blockchain, artificial intelligence, and other cutting-edge technology domains. Each of these ventures highlights Chen’s influence and vision in the evolving tech landscape.
As more traditional entrepreneurs like Chen delve into the crypto and blockchain scene, the space is likely to witness increased credibility and innovation. Their involvement could also pave the way for new standards in trust and security, addressing some of the issues Chen has pointed out about the lack of trust in the Web3 world.
38 thoughts on “YouTube Co-Founder Backs ‘First Cat’ Memecoin”
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Pajamas introduces a fresh wave of innovation in the memecoin space. Kudos, Steve!
Love seeing tech icons like Chen contributing to the memecoin craze! Pajamas sounds purrfect!
Steve Chen has over $1 billion and hes devoting his hours to something as trivial as a cat video memecoin? Thats just disappointing.
Steve Chen brings legitimacy to the memecoin market! Excited for Pajamas!
Pajamas is such a heartwarming tribute to early YouTube content! Thanks, Steve Chen!
Pioneering the blockchain world with nostalgia! Way to go, Steve Chen! 😺⛓️
Excited to see Steve Chen revisiting YouTube’s kitty history for a new blockchain era!
Pajamas memecoin on Solana is a refreshing project. Steve Chen is a futuristic genius! 💡🔮
Trees into crypto! Pajamas will blossom with Steve Chens passion.
Innovative and nostalgic! Steve Chen, you’re paving the way in crypto!
80 to 100 hours a week for a memecoin? Really, Steve? This is not what I expected from a co-founder of YouTube.
From cat videos to blockchain, Steve Chen is the ultimate tech visionary!
Super excited about PAJAMAS memecoin! Thanks to Steve Chen for making it happen! 😺👏
Love seeing such tech brilliance shine in the crypto world! PAJAMAS is just the beginning.
Cat videos and blockchain? Count me in! Can’t wait to see where Chen takes PAJAMAS!
Combining tech and memes! Pajamas is exciting, and Steve Chen’s involvement is gold! 💛😂
Incredible to see Steve Chen still innovating! Pajamas is such a cool project!
Pajamas 🐱 was cute, but a memecoin based on a cat video? That’s a hard pass for me. Feels like a waste of time and effort. 🙄
The fact that Steve Chen is putting so much effort into this memecoin initiative instead of more substantial projects is simply disappointing. 😤
80 to 100 hours a week on something as silly as a cat video memecoin? Steve, come on. You can do better. 😪
From YouTube to Blockchain, Steve Chen continuously proves hes a tech maverick!
Incredible to see such passion! 100 hours a week for Pajamas is truly amazing.
Devoting 80-100 hours a week to a memecoin? Steve, seriously? What a waste.
Steve Chen is really pushing the boundaries with PAJAMAS and other projects!
Steve Chen’s dedication to Pajamas is so inspiring! Blockchain and cat videos, a perfect combo!
Putting so much effort into a cat video memecoin feels like such a waste of potential. Why not focus on something more impactful, Steve? 🤦♂️
Steve Chen’s diverse projects are mind-blowing. Humane blockchain initiatives are so cool! 🌿📈
Investing in Pajamas? Steve Chen really needs to reassess his priorities. This is just absurd.
Steve Chen’s innovative spirit continues to elevate the crypto space! Go PAJAMAS! 🌠🐱
Steve Chens dedication to a memecoin is just sad. Feels like he’s wasting his talents on something so frivolous.
Using a billionaire’s time to push a cat video memecoin seems like a joke. I expected more meaningful contributions from Steve Chen.
Pajamas memecoin is breaking new ground, thanks to Steve Chen’s leadership! 🐱🎉
PAJAMAS is more than just a memecoin, its a legacy, thanks to Steve Chen!
Such dedication to PAJAMAS memecoin! Steve Chen never ceases to impress.
Heartening to see Steve Chen turning nostalgia into innovation with Pajamas!
This whole Pajamas memecoin thing Chen is doing seems like a mid-life crisis more than anything productive.
A billion-dollar net worth and still innovating in Web3! Steve Chen, you’re a legend!
Chens genuine passion for Web3 demonstrated by PAJAMAS is such an inspiration!