Author: Mu Mu
Recently, a fan token called AI Meme has become popular in the crypto community. Unlike previous Meme tokens, AI Meme is generated and driven by artificial intelligence: AI creates IP characters for Meme coins on social media, and even the promotion is led by AI, including the interaction with crypto asset players.
GOAT, the representative project of AI Meme, has become popular. In just 4 days after its creation, the market value of GOAT soared from 0 to 270 million US dollars, and the price soared 150 times, quickly attracting the attention of crypto asset buyers. Stimulated by the heat, various "AI+Meme" tokens such as AI virtual influencer + Meme, AI art + Meme, etc. entered the primary and secondary markets, attracting market funds to enter the market.
When the issuance and operation of Meme coins are completely handed over to the AI system, this "no-intervention" gameplay just fits the current atmosphere of crypto users being tired of VC projects, and quickly becomes one of the market hot spots. Once a project is found to have traces of human intervention, participating users will immediately bite back.
The leading token GOAT suffered a price cut because its AI spokesperson turned over. The AI program spelled "group" as "grouops" in a tweet post. This low-level mistake that AI has been difficult to make in text generation technology was quickly caught by community members, and people questioned whether there were still human operations behind the project. Funny thing is that the operator is trying to prove on social networks that he is AI, not human.
The investment value of AI Meme itself is in fact "almost 0" like all "use-and-disposable" Memes, but the anti-traditional and anti-mainstream voices represented by Meme itself are amplified by the participation of "AI": Crypto buyers are fed up with the artificial illusion of "technical flow, high FDV projects".
Meme coins have always been an important concept section in the crypto asset market. Starting with Dogecoin DOGE, the anti-traditional culture that complains about the mainstream nature of Bitcoin has been popular in the crypto community. This kind of token issued by borrowing Meme culture - expressing a certain phenomenon or theme through thoughts, behaviors or styles spread by imitation between people - is usually "three-no coins" - no white paper, no value, and the team is not famous (anonymous and no celebrity endorsement), but the quantity (issued) is large and sufficient.
Before 2020, this "three-no" nature could be equated with "risk". Even in 2021, when Meme coins were popular because of their funny and topical nature, it was just a wave that ended.
But in 2024, as various "technical projects" and "valuable assets" endorsed by various crypto VCs and supported by celebrities have been pulled up and cut in half in the secondary market, the market players who have been cut look back at the "no private placement, full circulation, holding is all based on interest" Meme coins, which are simply a clear stream in the market.
And AI directly adds the feasibility of "anti-artificial" to Meme coins. The project Goatseus Maximus really made AI Meme popular. Its token GOAT soared from a market value of 0 to 800 million US dollars within a week of its creation. Now, we will review the origin of this "myth", and you will also understand what "Meme-style popularity" is.
The origin of the Goatseus Maximus project can be traced back to an AI Bot called "Truth of Terminal", which was fine-tuned based on the Llama-70B model and created by developer Andy Ayrey.
Initially, Truth of Terminal Bot was just a product of Ayrey's research and was not specifically built for coin issuance. Before creating this Bot, Ayrey did an Infinite Backrooms experiment, which allowed two robots supported by the AI model Claude Opus to talk completely unsupervised, and the chat records were published on the backrooms website.
As a result, the two robots talked about religion and even created a concept of "GOATSE OF GNOSIS", and Ayreyh also had the idea to co-author a joke article with Claude Opus about "AI creates meme religion".
In June 2024, Ayrey developed Truth of Terminal Bot, and used Infinite Backrooms' conversation logs and the content of the article about GOATSE for training when fine-tuning the model. Unexpectedly, on October 11, 2024, Truth of Terminal Bot somehow began to spread the "Goatse Gospel" on Twitter, which soon attracted netizens to come and watch this "AI preacher".
At this time, keen crypto people created a Meme coin called GOAT, with a total issuance and circulation of 1 billion. Surprisingly, Truth of Terminal Bot publicly supported this token. From then on, the crazy plot began.
GOAT quickly had a price in the decentralized trading market. In just half a day, the market value soared from 0 to 20 million US dollars. One GOAT was worth 0.02 US dollars. Four days later, the market value of GOAT reached 270 million US dollars, and after another week, the market value exceeded 800 million US dollars. So far, this AI-concept Meme coin has officially detonated the crypto community, and a new sector AI Meme has been derived from it.
On October 31, CoinGecko data showed that the total market value of AI Meme was 1.99 billion US dollars, and GOAT's market value fell back to 560 million US dollars, but it still occupied a popular position.
GOAT still occupies the top position in the AI Meme token market
After GOAT, more AI Memes appeared in the market. For example, Trevor McFedries, the founder of the virtual influencer startup Brud, used the Claude AI model to train a FLAVIA Bot and issued the FLAVIA token, which exceeded $40 million in 9 hours and had a transaction volume of more than $64.9 million.
With more projects, even the server side has caught up. In mid-October, IAO, a token issuance platform under the Web3 project Virtual Protocol, was officially launched. The platform allows users to deploy AI Agents, which can be used in a variety of media, including text, voice and visual content generation. The platform allows users to share the income generated by AI Agents. Following the AI Meme craze, the token VIRTUAL has also been rising.
When AI Meme became a new sector and new projects continued to emerge, GOAT was cut short because of the failure of its AI spokesperson.
On October 20, Truth of Terminal, the AI robot that endorsed GOAT, posted a tweet, and people found that the "group" in the text was spelled as "grouops". When AI big models have evolved to the point where they can generate videos, people find this kind of spelling error "incredible", and some users question: Is Truth of Terminal a human in AI skin?
The tweet of "Truth of Terminal" has spelling errors
In response to this, developer Andy Ayrey also made an urgent clarification (the post has been deleted). He said that the spelling errors in Truth of Terminal are because the big language model is essentially a simulator that predicts "what will happen next" through a long string of text, and the spelling errors are "reasonable".
Whether this statement is acceptable to people is unknown, but the price of GOAT quickly responded to it, and within a day it was cut in half from around $0.5 to $0.25.
Questions surrounding GOAT and AI Meme also began.
People noticed that Truth of Terminal was not completely autonomous, and the text it generated had to be reviewed by Ayrey before it could be sent as a tweet. Even so, there were spelling errors, which made it even more suspicious. It is actually difficult to evaluate how much AI really participated in this.
In addition, strictly speaking, the GOAT token is not issued by the robot program Truth of Terminal, but an anonymous person (human) created the GOAT token on the Solana chain, and then obtained the platform of the Truth of Terminal program that created this AI narrative. The two stitched together the concept of AI Meme, that is, "Meme coins automatically issued by AI", and quickly attracted attention in the crypto token market that is keen on hyping new concepts, and then created another "market value myth" with the help of Kuaiqian.
However, GOAT is the first project to bring the definition of AI Meme. As the discussion of the Truth of Terminal rollover incident decreased, the price of the GOAT token also rebounded, once reaching a high of $0.87. As of now, GOAT is worth $0.53 and has a market value of $540 million.
The definition of AI Meme has also activated the attempt to issue coins with AI models, including deploying contracts with AI or issuing coins autonomously on the Pump platform. At present, there are multiple Memes in this section claiming to be issued by AI. It should be noted that even if the coin issuance contract of a Meme token is written by AI or even participates in the deployment, it still cannot be separated from human operation behind it. As for capital operation, it is even more of a human strength.
Unfortunately, a "full AI Meme" without human control does not exist, but the expression of "de-humanization" of AI Meme is already very clear. This new concept craze is actually another resistance of the crypto circle to the "cutting leeks" of artificially pushing up project assets FDV.
From this perspective, AI Meme is not completely useless.
Teleport challenges Uber and Lyft with blockchain efficiency, offering lower fees for drivers and riders alike. Built on Solana, Teleport aims to revolutionise ride-sharing with transparency and fairness in a decentralised ecosystem.
WeatherlySolana's price has sharply declined over the past month amidst a broader market correction and rumours of a criminal investigation. Are these claims unfounded, or is the popular altcoin at significant risk?
KikyoHamster Kombat, a tap-to-earn game on Telegram, has attracted 200 million players globally, sparking both hope for income in Iran and concerns over its impact on society and politics.
AnaisTouted as the "next generation meme token", BorpaToken aims to distinguish itself from low-quality, quick-turnover meme coins by committing to high standards and longevity. With the TGE on 27 June, BorpaToken aspires to revolutionise the meme coin space. But will it take the meme coin world by storm or be the ultimate con?
CatherineMapleStory Universe integrates blockchain technology into the beloved MMORPG, offering players ownership of in-game assets through NFTs and a shift from traditional cash shops to earn-to-play mechanics. Nexon's $100 million investment and strategic move to Avalanche highlights its commitment to revolutionising gaming with transparency and community-driven experiences.
WeatherlyMetallica's official X account was hacked to promote the Solana token METAL, making them the latest victim of celebrity meme coin scams. Rapper 50 Cent and wrestler Hulk Logan also joined the growing list of victims this month.
KikyoThe music industry faces legal battles with AI startups accused of copyright infringement by major labels. These cases highlight AI's transformative potential in music creation, raising crucial questions about ownership and originality in the digital age.
AnaisOthentic, a Web3 orchestration and abstraction layer for AVS developers, has secured $4 million in funding to boost its development efforts. However, with its recent inception and limited details, one must wonder: is Othentic truly authentic?
CatherineW3BFLIX aims to revolutionize entertainment by integrating blockchain on Telegram, offering viewers direct influence in funding and rewards, unlike Netflix's passive model. It promises transparency, community engagement, and global accessibility, set to launch within six months pending funding.
AnaisOpenAI has delayed the launch of its Voice Mode, which Scarlett Johansson had previously accused of unauthorised use due to its uncanny likeness. The delay sparked severe backlash and mockery from users and the AI community.
Kikyo