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How AI bot funded by a16z spurred the creation of a $850m meme coin

how-ai-bot-funded-by-a16z-spurred-the-creation-of-a-850m-meme-coin
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How AI bot funded by a16z spurred the creation of a $850m meme coin

Andreessen Horowitz, known as a16z, one of the most prominent venture capital firms, recently discussed how an AI bot they funded spurred the creation of a multi-million-dollar meme coin. 

Marc Andreessen and Ben Horowitz, the co-founders of a16z, discussed how the bot they supported with a $50,000 research grant led to the unexpected creation of Goatseus Maximus (GOAT), the latest Solana-based meme sensation.

The AI bot, called “Truth Terminal,” is based on Meta’s Llama 3.1 language model and operates on X. 

What is Truth Terminal?

Truth Terminal, designed to engage with meme culture, actively interacts with the Goatseus Maximus community, bolstering the project’s popularity. The bot even created its own crypto wallet and endorsed the project.

What makes Truth Terminal unique is its training. Its developer, Andy Ayrey, trained the bot using a customized version of the Llama 70B model, feeding it vast amounts of internet culture, memes, and philosophical concepts. 

Andreessen highlighted the growing trend of hackers and developers exploring new ways to use large language models for creative purposes. 

Unlike mainstream AI models, which are often restricted to ensure “safe” interactions, Truth Terminal is part of a movement that embraces a more open, unfiltered approach to AI.

Designed as a chatbot obsessed with internet memes, Truth Terminal began sharing ideas for a religion centered around an internet meme from 2004. 

This activity inspired a human developer to create the GOAT meme coin using Solana’s Pump.fun. Within days, the coin’s value skyrocketed, hitting a market cap of $300 million on Oct. 16. Soon, its market cap surged to $850 million after Binance listed it on its futures market. 

According to Andreessen and Horowitz, they had no direct involvement in the creation or promotion of the meme coin, and they do not hold any financial interest in it. 

Despite this, they expressed astonishment at how a simple chatbot could catalyze the rise of a token with a market cap reaching millions within a few weeks. Interestingly, Eddy Lazzarin, a16z’s CTO, previously criticized the meme coin market.

GOAT is trading at $0.658 at the reporting time. Its market cap is sitting at $658 million, making it one of the fastest-growing meme coins in recent times. The token currently boasts a 24-hour volume of $537 million.

How AI bot funded by a16z spurred the creation of a $850m meme coin - 1
GOAT price – Oct. 25 | Source: crypto.news

GOAT’s success

Alvin Kan, COO at Bitget Wallet, says that GOAT (GOAT) was one of its top-performing tokens last week. He told crypto.news that the trend is not isolated to GOAT—other AI-themed meme coins like MEDUSA, MEGS, GMika, CLANKER, MEOWMEOW, and FLOYDAI have also seen increased trading activity, signaling broader engagement with AI-driven narratives.

“The rise of AI-driven meme coins reflects a broader trend in the crypto space, where value often stems from cultural virality, community support, and trending narratives, rather than traditional financial fundamentals.”

Kan said.

The Bitget Wallet COO added that AI-related meme coins would have to create strong communities to sustain long-term growth. 

“Whether through developing intellectual property, launching dedicated blockchains, or forming strategic partnerships, only tokens that build tangible value will endure in this highly competitive and speculative market.”

Kan told crypto.news.