A cat video filmed 20 years ago by former YouTube chief technology officer Steve Chen is now the basis for a memecoin with a market capitalization of more than $20 million.
Steve Chen, co-founder and former chief technology officer of video-sharing platform YouTube, has been supporting a memecoin project based on one of the first cat videos uploaded to the website in 2005.
Speaking to Cointelegraph from Taiwan on May 27, Chen, who has an estimated net worth of more than $1 billion, said he had been devoting 80 to 100 hours a week to backing the memecoin Pajamas (PAJAMAS). Based on Chen’s “first-ever cat video uploaded to YouTube” in 2005, the project is available on the Solana blockchain.
“This is my cat, Pajamas, playing and dancing to the tune of Nick Drake,” said the video description, uploaded to YouTube on May 22, 2005.
