Memecoins Honouring/Dishonouring Liam Payne Flood Crypto Space

The crypto market often capitalises on notable events to create new cryptocurrencies or NFTs, and the tragic death of former One Direction singer Liam Payne on 16 October was no exception.

Within 24 hours, more than 150 meme coins were launched on the Pump.fun platform, many claiming to "pay tribute" to the artist.

Payne, who gained international fame with One Direction, passed away after falling from a third-floor hotel balcony in Buenos Aires.

Police were alerted to the scene after receiving a report of an "aggressive man possibly under the influence," later discovering the room in disarray, with drug paraphernalia scattered throughout.

The first memecoin themed around Payne's death was created at 9:29 PM (UTC+1), just minutes after the incident took place at around 5 PM in Argentina (UTC−3).

This wave of new tokens—mostly created on the Solana-based Pump.fun platform, known for its unique bonding curve pricing model—also spread across other blockchains like Ethereum, SUI, and Tron, highlighting the crypto industry's tendency to respond swiftly to major news events.

Profiting from Tragedy or Honouring His Legacy?

Many of the Payne-themed meme coins on Pump.fun market themselves as tributes to the late artist, his dog, or his legacy.

They claim to honour Liam Payne's influence in the music world, presenting their creation as a way for the crypto community to remember his impact.

Some, however, take a more insensitive approach, referencing the balcony from which he fell or the disarray found in his hotel room.

One coin, "RIP Liam Payne (PAYNE)," launched about 19 hours ago, asserts that 10% of its proceeds will go to his family, with another 10% directed to a charity he supported.

Despite these gestures, most of these tokens have failed to gain significant traction, with average market capitalisations hovering around $4,000 on Pump.fun.

As anticipated, several are likely pump-and-dump schemes, with some tokens losing as much as 99% of their value shortly after launching, according to Dex Screener data.

While many appear to exploit the tragedy for profit, there is potential for a few to build strong communities and see their market cap grow beyond a million.

Crime Scene or Unfortunate Demise?

According to local reports, shocking images from Payne's hotel room in Buenos Aires show signs of drug and alcohol use following his tragic death from a third-floor balcony fall.

Verified by Argentina's leading newspaper, La Nacion, the images reveal a shattered TV, a half-empty champagne glass, and powder suspected to be cocaine scattered across the room.

A desk displayed an empty glass, a burned candle, and a drink can with traces of white powder, while the bathroom showed burned foil and wax in the tub.

Officials, alerted by a 911 call about an "aggressive man under the influence of drugs or alcohol," found Payne's body on the ground floor along with a bottle of whiskey, a lighter, and a cellphone.

Medications, including Clonazepam and energy drinks, were also discovered at the scene.

Argentinian authorities are actively searching for the drug dealer responsible for supplying Payne with illicit substances.

Throughout his career, Payne, 31, had battled alcohol addiction, entering rehab twice and speaking openly about his struggles with addiction and suicidal thoughts.

Despite efforts by first responders, who arrived shortly after a frantic call from the hotel manager, Payne could not be saved, according to Buenos Aires emergency services chief Alberto Crescenti.

Argentine Authorities Confirms Official Findings of Payne's Autopsy

Following the tragic death of 31-year-old English singer Liam Payne, fans gathered outside his Buenos Aires hotel in the vibrant Palermo neighborhood to honour his life and music.

While questions surrounding the circumstances of his death persist, Argentinian authorities have confirmed the preliminary autopsy results, revealing that Payne died from multiple traumas and both internal and external bleeding caused by the fall.

A top medic lamented:

“Our role was to head there quickly, give medical attention, and try to resuscitate him, but his injuries were incompatible with life. Based on what the team saw, there was apparently a cranial fracture and extremely serious injuries that led to his immediate death.”

He added:

“The team could do absolutely nothing. There was no resuscitation because it was confirmed that he had died. The whole body had very serious injuries.”

Payne is survived by his 7-year-old son, Bear, whom he shares with his former partner, singer Cheryl Cole.

Inspiring the Creation of Meme Coins, for Good or Bad

These trends are not uncommon in the crypto space, where real-world events often spark the creation of meme coins—cryptocurrencies typically named after popular figures, animals, or cultural moments.

A similar phenomenon occurred around the upcoming US presidential election.

Also for instance, when a leaked HBO documentary implied former Bitcoin developer Peter Todd was Satoshi Nakamoto, Pump.fun users quickly launched meme coins centered around Todd and even his dog, with some coins referencing pets he never owned.

The response to Payne's death highlights that no event is too sensitive or shocking for meme coin creators aiming for profit.

However, investors should exercise caution, as these tokens are notoriously volatile.