Author: Justin Baba, Messari Researcher; Translated by: 0xxz@Golden Finance
Essentially, memecoin is a coordination mechanism, similar to Bitcoin.
Unlike Bitcoin, which relies on its consensus mechanism to achieve coordination in a peer-to-peer network, Memecoin relies on social coordination.
This emphasizes community formation, which Murad Mahmudov highlighted in his talk on “The Memecoin Super Cycle” at Token2049 as one of the main factors in a successful memecoin.
One area within the crypto industry (and the tech industry in general) that has developed a cult-like community is AI.
While Bittensor is currently the leader in the space in terms of market capitalization, there are many other opportunities in the cryptocurrency space that can leverage AI.
One such opportunity is Agentic Protocols. Agentic Protocols replace humans with AI agents that perform tasks such as collecting data and creating content.
While Agentic Protocols are still in their infancy, one experimental memecoin (GOAT) has recently gained widespread attention for its reliance on AI agents to market the memecoin.
Initially, Andy Ayrey created an "X" account, standing for "Termianl of truth," run by the OPUS LLM bot and trained using data from Reddit, 4chan, and other social media platforms.
The goal of this AI agent is to explore how AI can use meme materials to generate new belief systems.
The third-party token GOAT was then airdropped to the AI agent bot, which began incorporating the token into its tweets and personality, essentially turning the account into an Agentic Key Opinion Leader (KOL) for the GOAT token.
Memecoin relies heavily on social relevance, so KOLs play a major role in determining the success of the token. This can be costly for projects, as KOLs are usually paid for marketing the project; however, Agenic KOLs can reduce the use of KOLs.
Source: When AI plays God: The emerging heresy of LLM theism
In addition to the traditional risks faced by memecoin, such as high volatility and low liquidity, there are also some specific risks to the project that may hinder its success.
For example, the agent might abandon the token and start talking about a different project, switching from GOAT to another animal meme coin.
“Termianl of truth” accounts are also vulnerable to reply spam, which may affect future content posted by the account.
While it’s refreshing to see a memecoin that isn’t another variation on the dog or cat meme, it’s unclear whether this memecoin will have staying power or be a flash in the pan that loses relevance as people move on to the next memecoin.
However, using AI agents as marketing tools is a potential use case that goes far beyond memecoin and could have broader implications for how marketing operates in the future.
