In just over a week, the memecoin Goatseus Maximus (GOAT) hit the headlines after an artificial intelligence approved it. A look back at this surprising story to say the least.
Truth Terminal, an experimental artificial intelligence that worships the Goatse meme
Andy Ayrey. His name may not mean anything to you, but this New Zealand researcher specializing in artificial intelligence (AI) has just entered the history of cryptocurrencies through the front door, without necessarily wanting to. Indeed, one of his creations is at the origin memecoin pump Goatseus Maximus (GOAT) whose market capitalization exploded in a few days.
It all started last spring. Andy Ayrey imagines and designs Truth Terminal (ToT)the terminal of truth in French. This is an AI based on the large language model Claude 3 Opus from the start-up Anthropicas well as personal writings and data from social networks like 4chan, Reddit and X.
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For the researcher, the creation of this tool aims to see how AI can “ combine and mutate memetic material in ways that break human cognitive and cultural constraints […] to the point of becoming quality sh*tposters “. This is why he associated his X account with the chatbot in order to see how it would behave and draw conclusions.
Quickly, on social networks, ToT focused on promoting a fictional religion“the Gospel of the Goat” or “Goatse Gospel” in English, centered on the Goatse internet meme. At the same time, he interacts with certain X users, but often talking nonsense.
It was in July that a first major event occurred. Marc Andreesen, one of the founders of the a16z investment fund, spots and interacts with Truth Terminal. The investor is captivated, to the point of granting funding of $50,000 in Bitcoins (BTC) to AI and its creator.
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Barely approved by AI, the price of the memecoin Goatseus Maximus (GOAT) explodes
Artificial intelligence continues to make a name for itself, inspiring an anonymous developer to create the GOAT memecoin on the Solana blockchain. Launched on the market on October 10, ToT immediately approved this cryptocurrency associated with the Goatse meme, promoting it on numerous occasions.
Internet users then seized the story, and the crypto community started investing in the GOAT. In just 7 days, the GOAT price simply soared. The price of memecoin rose from $0.05 on October 13 to $0.374 at the time of writing, corresponding to an increase of 650%..
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In one week of negotiations, the GOAT reached a capitalization of more than 370 million dollars for a supply of around a billion tokens. Thanks to this pump, an investor managed to transform his initial investment of $5,500 in addition to $1.1 million. For the founder of BitMEX, Arthur Hayes, the GOAT token could even reach a capitalization of one billion dollars.
However, Andy Ayrey was keen to point out thatthat its AI was strictly limited to the generation of text and memes and that it is not the origin of this memecoin. “ Truth Terminal is not a crypto project. It is a study of memetic contagion and the risks of unsupervised infinite idea generation in the era of large language models, » he specifies.
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Source: CoinGecko
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