The memecoin, aptly named Pajamas (PAJAMAS), draws inspiration from a video Chen shot 20 years ago. The video, featuring Chen’s cat Pajamas “playing and dancing to the tune of Nick Drake,” was uploaded to YouTube on May 22, 2005.

This video holds a special place in internet history, being among the earliest cat videos uploaded to the site. Chen, with an estimated net worth exceeding $1 billion, has expressed his deep commitment to the project.

He dedicates a significant amount of time, reportedly between 80 to 100 hours per week, to supporting Pajamas, which runs on the Solana blockchain. Chen’s involvement with the project began after being tagged by numerous users on X, prompting him to look into the token.

Since then, he has become an active supporter of the memecoin. Pajamas is just one of Chen’s many ventures in the technology space, which currently include an AI-based exchange-traded fund and investments in Taiwan-based startups.

Reflecting on his experiences in the Web3 world, Chen has expressed concerns regarding trust within the community. “Whenever I try to meet someone important or influential in the Web3 world, at least one person warns me never to meet or talk to this person,” he stated.

Pajamas: A Testament to Chen’s Entrepreneurial Spirit

Despite these concerns, Chen’s involvement with Pajamas highlights his willingness to embrace innovation and explore the potential of emerging technologies. The project’s success serves as a testament to Chen’s entrepreneurial spirit and his ability to identify promising opportunities in the ever-evolving digital landscape.

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