Propose an edit: Bagwork

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Title Category One sentence summary Infobox, one "key: value" per line Article body, markdown, use [[wiki links]] and end with a ## References section

Bagwork is the shared identity of two young American content creators, identified in Decrypt's reporting as Chris and Mike and believed to be around 19 years old, who became the emblematic homegrown stars of [[pump.fun livestreaming]] in 2025. Unlike creators recruited from other platforms, the pair built their audience natively in [[the trenches]], tying a [[Solana]] token, BAGWORK, directly to an escalating series of real world stunts.

## Rise

The duo's format blended music, performance, and open speculation, with the token's chart functioning as a live scoreboard for their content. Their breakthrough moments were physical and came on consecutive days: the field invasion during a Los Angeles Dodgers game came first, on a Wednesday, and the Bradley Martyn hat slap followed the next day. The Martyn incident, in which one of the pair was slapped after trying to take his hat, was reported by 99Bitcoins as sending the token toward a 36 million dollar market capitalization and by Decrypt as earning about 49,000 dollars in creator fees, with the token surging roughly 2,000 percent around it. In late 2025 they played what they claimed were unreleased tracks by Drake and Future on stream, and reportedly also claimed to play unreleased Lil Uzi Vert and Playboi Carti material. Coverage by Yahoo Finance and PANews put the precise leak weekend economics at 83,410 dollars in creator fees across that Saturday and Sunday, 168,000 dollars total over the token's first four days, a peak market capitalization of 53 million dollars on the Sunday, a 2,965 percent spike from about 2 million dollars on the Friday, then a 41 percent retrace to 30.89 million dollars. The same reporting is the source of the line every trench native knows: Drake reportedly called [[Adin Ross]] to find out who the duo were, saying "I don't even know who the fuck those kids are."

## Token and economics

BAGWORK reached an all time high market capitalization of about 53.8 million dollars and generated on the order of 300,000 dollars in total creator rewards under pump.fun's revenue sharing model, according to Decrypt's December 2025 accounting. By the end of 2025 the token had fallen about 96 percent from that peak to under 2 million dollars, tracking the broader decay of the [[streamer meta]]. One of the pair acknowledged the incentive problem directly, telling Decrypt there was definitely a little bit of an issue with creators needing crazier content to pump their tokens.

## Significance

Bagwork is the cleanest case study of creator capital markets, the 2025 arrangement in which a streamer's attention was priced in real time by a token. Their trajectory demonstrated both sides of the model: stunts converted instantly into fees and market capitalization, and the same feedback loop demanded continuous escalation, from pranks to trespassing to leaking copyrighted music. Within trench culture, doing it for the bag work became shorthand for stunt driven token promotion, and the duo's arc is cited alongside the [[quant kid incident]] in debates over what [[pump.fun]] livestreaming incentivizes.

The vocabulary outlasted the duo's own relevance. "Bagwork" and "bagworking" persisted into 2026 as generic trench verbs for grinding a coin's community, independent of the pair, appearing in posts such as a call to "bring back bagworking" amid complaints about supply bundling, a streamer's description of "full on thesis, bagwork and conviction," and Ansem's own line "Bitcoin created Proof of Work, Ansem created Proof of Bagwork." The term itself derives from boxing training slang that predates the duo; they popularized rather than coined it, though the trench vocabulary now carries their association.

## References

- Decrypt: https://decrypt.co/352919/creator-capital-markets-pump-fun-streaming-twitch
- Yahoo Finance: https://finance.yahoo.com/news/pump-fun-streamers-earned-83-135742547.html
- panews.io: https://panews.io/articles/b3da9b30-0287-477a-b80a-b281a963efe7
- 99bitcoins.com: https://99bitcoins.com/news/presales/bradley-martyn-slaps-streamer-solana-bagwork-token-soars-to-36m/
- 99bitcoins.com: https://99bitcoins.com/news/presales/best-solana-memecoin-to-buy-as-bagwork-crypto-blasts-1000-overnight/
- X post by @Yennii56: https://x.com/Yennii56/status/2048095173427798371
- X post by @daumenxyz: https://x.com/daumenxyz/status/2016720322209120673
- X post by @blknoiz06: https://x.com/blknoiz06/status/2078184664674586882

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