- Solana memecoin GOAT grew from $5K to $150M market capitalization
- This was greatly helped by the fact that Truth Terminal AI Bot is behind it
- The creator of Truth Terminal made comments that AI Bot did not create the coin
- However, it did contribute to its growth, with AI Bot not being a crypto project
- It aimed to explore the potential and risks of open-source LLMs
Solana memecoin GOAT went from $5K to $150M market capitalization after rumors of Truth Terminal AI Bot being behind its launch.
Although it has already fallen from its peak value and is trading at $0.121, its market capitalization remains extremely high at $121.1M at the time of writing.
Andreesen Horrowitz, who is funding Truth Terminal had to comment on this, indicating that the AI bot is not intended as a crypto project, but instead aims to test and risk open-source AI.
Comments on the GOAT Launch from Andreesen Horrowitz
The new memecoin Goatseus Maximus (GOAT), launched on Solana memecoin pump.fun on October 10, showed a stunning rise from a $5K market capitalization to $150M by October 14.
This happened mostly because there were a lot of rumors about it being launched using the Truth Terminal AI bot, which was founded by Andreesen Horrowitz.
Truth Terminal is not a fully automated system and is human-controlled, requiring permission to perform certain operations.
At its core, Truth Terminal is fine-tuned Meta’s Llama 3.1, developed as a way “to automate jailbreaking other LLMs to say naughty things.”
Andreesen Horrowitz was quick to clarify that GOAT was not actually started by Truth Terminal, but it did participate in the memecoin promotion.
That said, it was not intended as a crypto project, but “a study in memetic contagion and the tail risks of unsupervised infinite idea generation in the age of LLMs.”
Andreesen Horrowitz makes us pay attention:
“This memecoin taking off is proving a thesis I’m building an AI alignment and safety company around; which is where the bulk of my skin in the game lies — although I also bought some GOAT and folks have been airdropping it to me for skin in the game.”
The project attracted attention, and back on July 11, the bot received $50,000 from a16z founder Marc Andreessen, after asking what it would use it for. Then Andreesen Horrowitz wanted to buy itself a new CPU, tweak its algorithm, and potentially launch a memecoin, but according to his statements today, his bot never directly launched a memecoin.
However, we may be waiting for another memecoin to be launched with his help, such as Gospodin, which refers to the AI-generated fictional pet of Truth Terminal.
Conclusion
The Andreesen Horrowitz project is indeed a very clear example of the potential of even today’s open-source LLMs, although many engineers insist that the real turning points are yet to come.
This makes everyone keep a close eye on the latest developments, and consider how rapidly they can change the markets, where memecoin, which served as a proof of concept, went from $5K to $150M in just 72 hours.
