In-Depth Look at GOAT And Beyond

GOAT (Goatseus Maximus) has become a hot name lately, especially in the memecoin space, largely due to its strange origins and extreme rise in value.

Although not directly created by artificial intelligence, the coin was inspired by AI-driven discussions, content, and the use of new technologies and their capabilities (and autonomy).

The token’s concept stemmed from the work of researcher Andy Ayrey, a New Zealand designer, and his AI agent, Terminal of Truths (also known as Truth Terminal), whose tweets about the “Goatse Gospel” and its predictions of a “Goatse singularity” became popular in the crypto community, as it were often bizarre posts with a touch of… philosophy, maybe?

Anyway, GOAT came to life on October 10, 2024, incubated on Pump.fun, a Solana-based marketplace that allows users to create new memecoins with just a few dollars and a few clicks. While most tokens on Pump.fun —over 97%— never reach a market capitalization beyond $60K, GOAT amassed $1B in market capitalization just a few days after launch, giving birth to a whole new trend of coins based on artificial intelligence agents.

So to sum it up, GOAT is derived from an AI agent designed to randomly post on X, but it’s not as simple as it sounds.

The Rise of AI Agent Coins

There’s always something new in the crypto industry. A few years ago, everyone was talking about dog-themed memecoins, and we’re all suddenly talking about the rise of AI cult coins, meme religions, and general cult-like projects reaching billions of dollars in market capitalization…

Let’s start with GOAT. The coin originates from the Infinite Backrooms experiment, where two prototypes of Claude Opues AI-backed chatbots were designed to talk to each other without any sort of human intervention.

The results were bizarre, to say the least, as the chatbots blend in elements of Gnosticism, Hermeticism, and other esoteric traditions mixed with imagery inspired by internet memes. More specifically, elements of shock media, which, as the name suggests, is content designed to provoke and even offend the viewer. You can imagine what that’s all about, so view it at your own discretion — and don’t say I didn’t warn you.

But another result of these interactions was the birth of the “Goatse Gospel” which is an even more bizarre worldview that deliberately intends to produce sacred and profane content just to challenge and provoke its viewers.

So, an individual developer decided to create a token called GOAT because Truth Terminal often tweets about the “Goatse Gospel”, which is a bizarre concept that originated from an AI experiment called “Infinite Backrooms” conducted by Ayrey himself, and the coin reached over $1B in market capitalization.

Yep, that happened, but bear with me. This is an experimental project that Ayrey still has control of to a certain point. For instance, he manages the interactions and approves the content before it’s published, so it’s semi-autonomous.

And what are the posts about? Well, it can go from satirical, humorous, exaggerated content to elements of internet meme culture. Some posts are just outright…strange.

What is the Truth Terminal?

Truth Terminal is a Claude-based AI agent that constantly promotes GOAT, but Ayrey denies that neither he nor the bot created the memecoin, despite the fact that the agent constantly shills it on X.

The fact that an AI can heavily influence and promote a specific market caused controversy in the crypto and AI industry, with some questioning the ethical grounds for letting AI agents propagate memecoins deliberately.

Others just think this new trend is outright absurd, given how much they can influence communities and entire markets. For instance, several renowned figures in the crypto and AI space have interacted with these agents. Marc Andreessen, from Andreessen Horowitz (a16z), gave $50K to a wallet associated with Truth Terminal.

There’s nothing particularly special about this coin besides its strange, radical, and satirical lore that resonates a lot with crypto degeneracy, which, after all, can come in multiple ways and shapes.

Exploring GOAT

GOAT was launched on the Solana blockchain with a total supply of one billion tokens. It’s listed on multiple popular crypto exchanges like BitGet and BitMEX. Yet, most of the liquidity is concentrated on Raydium, one of the top Solana decentralized exchanges (DEX).

However, most of the supply is concentrated among a few wallets, leaving the project vulnerable to price manipulation from whales. There’s also no publicly available information about the token’s distribution.

GOAT was so popular that the wallet associated with Truth Terminal made the agent the first AI millionaire. The token saw a massive boost when Binance announced the launch of GOAT perpetuals. Funny enough, you cannot buy and trade the coin on the exchange but can use 75x leverage in the derivatives market.

Truth Terminal’s popularity benefited other unrelated coins. For example, a token named after Brian Armstrong’s dog, Russell, skyrocketed after the Coinbase founder interacted with the AI agent on X.

How Are AI Agents Different from Traditional Automated Bots?

AI Agents like Truth Terminal are far more advanced than traditional automated bots or simpler AI systems, mainly because they offer a heightened level of autonomy, interaction, and adaptation to their surroundings, while traditional bots rely on predefined rules and provide fixed responses. Therefore their data knowledge is somewhat limited.

Likewise, AI agents can move across different protocols, applications, and blockchain systems (and non-blockchain platforms, too), allowing them to interact and participate in social, economic, and political activities, while traditional bots are limited to just text interactions.

While highly experimental, AI agents are quite flexible because they can handle different tasks and even work as general-purpose assistants for you. They can even adapt to different contexts and recalibrate their outputs if something doesn’t work as you originally requested.

While they sometimes hallucinate to a certain degree (no AI is currently 100% precise and reliable), self-reflection is present in these models —again, they are quite experimental, so this so-called “self-reflection” system is still quite limited.

And, of course, these AI agents work like a charm when it comes to promoting cryptocurrencies and influencing the market. Well, Truth Terminal is quite the example. What’s even more worrying, perhaps, is that these agents can act as key opinion leaders, manage online communities, and even launch their own crypto projects.

This is because AI agents are built on large language models (LLMS) and deep learning technologies that allow them to generate content and execute several actions in an autonomous manner.

Needless to say, traditional bots are nowhere near close to performing such actions.

How can AI Agents Influence Markets?

AI agents can influence markets by promoting tokens through tailored content aimed at specific communities. They can do this through real-time and historical data interpretation to gauge market trends and patterns. The problem is that they can very well use this ability to manipulate markets and create pump-and-dump schemes that benefit the human who controls the agent.

Closing Thoughts on AI Cult Coins

AI agent meme coins are popular for a simple reason —they combine crypto and AI, which often sound like two magical buzzwords in mainstream media. But for crypto “degens,” it’s the new form of opium they can pour their money into.

It’s an extremely speculative market, and few of the investments provide useful benefits or any utility.

But they know how AI and crypto can mix, and it often results in extremely bizarre content and cult-like communities. However, it remains an experimental niche that can yield some pretty interesting results in the long run.