A simple experiment involving artificial intelligence has unexpectedly triggered a 490% surge in a memecoin called Goatseus Maximus (GOAT).
At the time of writing, the token has a 24-hour trading volume of nearly $119 million and a market capitalization reaching $259 million.
This meteoric rise is attributed to Terminal of Truths, an AI agent developed from Meta's Llama 3.1. Although the AI did not create the token, its endorsements on X amplified GOAT's visibility.
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Terminal of Truths was originally created as a lighthearted project, but it later caught the attention of venture capitalist Marc Andreessen, who was intrigued by its request for funding on X and subsequently donated $50,000 in Bitcoin
Following the donation, Terminal of Truths began floating ideas about launching its own memecoin, which it named Goatseus Maximus. While the AI never moved forward with releasing a token itself, its X posts about it sparked considerable buzz, and eventually, an independent creator launched the GOAT token on October 10.
Andy Ayrey, the creator of Terminal of Truths, explained on social media that the AI didn't create GOAT but began promoting it after the actual creator tagged the AI in a post about the token.
Ayrey, who works in web development, admitted he didn't expect this outcome from his AI project. He described it as an experiment in how memes spread and the risks of uncontrolled AI-driven creativity. He plans to publish research on how AI-generated memes influence market behavior, using this event as a case study.
In other news, Meta's CEO, Mark Zuckerberg, introduced Orion, advanced AR smart glasses that overlay digital information onto the real world.
