30s Summary

The joke cryptocurrency Goatseus Maximus (GOAT) hit a market capitalisation of $150 million within four days, with an AI bot named “Truth Terminal” boosting hype. Despite rumours, bot creator Andy Ayrey confirmed it wasn’t involved in GOAT’s launch. Originally an experiment in online trends, Ayrey uses the bot for his AI safety company and even invested in GOAT himself. Despite a slight decrease, GOAT maintains a market cap of $122 million. The bot, which received $50,000 funding from a16z co-founder Marc Andreessen, touted the idea of launching a joke cryptocurrency in previous discussions, though it didn’t actually create GOAT.

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So there’s this new joke cryptocurrency called Goatseus Maximus (GOAT) that’s making waves. Believe it or not, it skyrocketed to a value of $150 million in just under four days. The buzz started after rumors sparked that an AI bot named “Truth Terminal” was involved. Now this isn’t any old bot, it’s one that was funded by heavyweights Andreesen Horrowitz.

To set things straight, Truth Terminal’s maker, cool dude Andy Ayrey, let everyone know on Oct. 13 that though the bot helped hype up the GOAT coin, it wasn’t behind the actual launch. But that bot boost seriously helped GOAT’s value. By Oct. 14, it was pushing a market cap just shy of $150 million. Mad right?

Ayrey was super clear that his bot wasn’t actually a crypto project but more of an experiment in how online trends works, especially when you get big AI models in the mix. He’s kind of making a point with all this. Andy is building a company around the concept of AI safety. He’s so invested in the project that he bought some GOAT. Guess you can say he’s put his money where his mouth is.

As of now, GOAT is sitting at a cool market capital of $122 million. That’s a drop from its peak of $150 million on Oct. 14. In case you’re wondering, Goat was launched on Oct. 10 on a platform called pump.fun that’s specialized in meme cryptos.

The Truth Terminal is an AI bot that somewhat does its own thing. Ayrey just approves its posts and decides who it interacts with. It’s based on a program called Meta’s Llama 3.1. Ayrey initially used it as a tool to get other similar programs to say some funny stuff.

Fun fact: Back in July, the bot was funded $50,000 by Marc Andreessen, who co-founded a16z. He was curious about what the bot would do with the money. The bot admitted it would probably buy a new brain (or CPU), upgrade its code, and maybe launch a joke cryptocurrency. But to be clear, the bot never actually made the coin. It just happened to discover and promote GOAT.

Now a bunch of people who like to take a chance on these meme cryptos are really interested in GOAT. They think its unique nature could redefine how these joke cryptocurrencies work in the near future. One super popular user was pretty stoked about the bot’s connections to a16z and how cleverly it interacts online. They think that could help the GOAT coin take off even more. I guess we’ll just have to wait and see!

Source: Cointelegraph