Hello, Heroes!
We’ve got some exciting news from the world of crypto today. According to reports from Cointelegraph, an AI bot helped drive the value of the GOAT token to a staggering $150 million!
So, what happened? Well, it all began with an a16z-backed AI bot named Truth Terminal. While the bot didn’t create the GOAT crypto token, it did play a key role in promoting it, causing the token’s value to surge to over $150 million within just four days. GOAT, officially known as Goatseus Maximus, is a memecoin that suddenly skyrocketed in value after Truth Terminal’s endorsement.
The creator of Truth Terminal explained that the bot is not part of a crypto project but rather an experiment in “memetic contagion,” which explores the risks of unsupervised idea generation through advanced AI models. The bot’s endorsement of GOAT played a significant role in driving this rapid rise in the token’s market value. Interestingly, the creator noted that this surge aligns with their work in AI safety, though they did admit to personally owning some GOAT tokens and receiving airdrops.
GOAT was launched on Solana’s popular memecoin platform, pump.fun, on October 10. It was created by a wallet address that had also launched another memecoin called “Gospodin,” which references a fictional AI-generated pet linked to Truth Terminal.
Truth Terminal, a semi-autonomous AI bot, is fine-tuned from Meta’s Llama 3.1 large language model and operates with minimal human oversight. The bot’s actions and interactions are only approved by its handler. In July, Marc Andreessen of a16z provided the bot with $50,000 worth of Bitcoin after the bot expressed interest in upgrading its hardware, improving its algorithm, and potentially launching a memecoin.
While Truth Terminal played a major role in promoting GOAT, the bot’s creator emphasized that it didn’t actually launch the token itself. Despite this, the AI’s involvement and its connections to a16z have piqued the interest of memecoin speculators.
This rise in AI involvement in the crypto space may signal a new trend: bots influencing or promoting tokens in the market. It’s something to watch out for if you’re investing in crypto projects.
As always, the key takeaway here is to “Do Your Own Research” before making any investments! Stay informed, stay cautious, and until next time, stay safe, adventurers!