Vector's Social Trading Concept Resurfaces with Fomo's Success

The story of Vector began with Tensor, an NFT trading market on Solana. Phil Jacobson, former executive at Vector and current Chief Business Officer at Altitude, participated in Tensor's first funding round as an angel investor. By the time he joined Vector, Tensor had become the dominant player in its space.

Jacobson recalls Ilja approaching him shortly after his arrival, saying 'We don't know what will happen with NFTs next, but we believe the next wave will be Meme coins, and we want to create a product around it.'

However, Jacobson and his team saw something bigger: social trading. They noted that people were increasingly relying on trusted individuals online for investment decisions, rather than asset managers or traditional financial institutions.

The problem was that discovering opportunities and executing trades were disconnected. Users would see a signal, decide to participate, and then struggle with the lengthy process of completing a trade. This was particularly true for Meme coins, where minutes could be crucial in capturing an opportunity.