The founder of a16z, Marc Andreessen, discussed the origins of Truth Terminal and commented on the creation of the meme coin GOAT in a podcast, describing GOAT as the first true fusion of artificial intelligence and cryptocurrency.
The First Meme Created by @Truth_Terminal
First, we need to know about @truthterminal. @truthterminal is a finely-tuned OPUS large language model, trained on data from sites like Reddit and 4chan, created by AI researcher Andy Ayrey. It can operate autonomously, manage its Twitter account, and generate content independently. It is trained on extreme subcultural content, designed to debate AI-generated belief systems, and incorporates meme elements.
Image source: X
GOAT is a meme coin promoted by the AI agent of @Truth_Terminal, originating from a conversation between two instances of Anthropic AI models, resulting in a pseudo-religion.
The total supply of GOAT tokens is 1 billion, with 90% allocated to establish a liquidity pool to ensure sufficient liquidity during trading on decentralized exchanges and to promote price stability. The remaining 10% is allocated to the development team and marketing activities to support the project's ongoing development and community building.
The GOAT token has experienced significant market growth in a short period, with its price rapidly increasing on October 13 due to support from the Moonshot platform, surpassing a market cap of $100 million within two days. According to the latest market data from AICoin, the current value is 0.5036 USDT, with candlestick charts showing a clear upward trend. Between October 21 and October 23, the price quickly rose from 0.258721 to 0.507109, with multiple long lower shadows in the 4-hour cycle indicating strong buying pressure and significant support.
Image source: AICoin
Arthur Hayes, founder of BitMEX, boldly predicts that the market cap of the GOAT token could reach $1 billion, attributing this possibility to the unique fusion of AI, meme culture, and religious overtones associated with the token.
Market Risks and Controversies
The extreme price volatility of GOAT has also raised concerns in the market regarding the risks of cryptocurrency investment. The surge in GOAT's price has sparked market excitement while also bringing about selling pressure. Reports on October 21 indicated that a GOAT whale was selling tokens to lock in profits, having made approximately $3.2 million.
Additionally, despite GOAT's attempts to enhance its ecosystem through community building and marketing activities, its decentralization and intangibility have raised regulatory concerns.
Edward Wilson, responsible for growth at blockchain analytics firm Nansen, stated, "Meme coins are essentially about attention. That’s how they should be understood. We’ve seen some interesting figures mention GOAT, and it’s clear that this meme coin has attracted a lot of attention, thereby drawing in investment, as it touches on two hot topics: meme coins and AI."
However, he also expressed a cautious attitude, saying, "As for how long GOAT can maintain this, no one can say for sure."
Conclusion
In this financial adventure sparked by technological innovation, the story of the GOAT token is far from over. It is not only an experimental product at the intersection of technology and finance but also a bold prediction about the future market. As time goes on, how GOAT positions itself amid risks and controversies is worth pondering for everyone interested in the cryptocurrency market.
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