news.bitcoin.com
A new Binance report explores the rise of AI-powered crypto applications, highlighting the success of an AI-backed meme coin and the emergence of platforms for creating and managing AI agents.
AI-Endorsed Meme Coin Brings Alignment Concept to the Fore
According to a new report by Binance, the emergence of the artificial intelligence (AI) agent Terminal of Truths (TOT) and its association with prominent figures in the cryptocurrency world may have “ushered in an emerging sub-sector of AI-consumer applications within the cryptocurrency markets.” Additionally, its rise and the subsequent pump of $GOAT, the meme coin it supports, have brought the concept of AI alignment to the forefront, the report added.
Since its launch on Solana’s pump.fun, GOAT, which traded at just over $0.10 on Oct. 14, saw its USD value increase astronomically in the days that followed. However, as reported by Bitcoin.com News in early November, a hacking incident involving the X account belonging to TOT creator Andy Ayrey on Nov. 3 caused the meme coin’s value to plummet. While this resulted in losses for Ayrey and TOT, the apparent success of an AI-endorsed meme coin highlights the growing intersection between AI and cryptocurrency.
“Although the ToT story is quite light-hearted and revolves primarily around a memetic religion, a funny X account, and a meme coin, there is the question of how other AI agents will behave and their various goals,” the Binance report concluded.
Meanwhile, the report also focuses on Virtuals Protocol, a platform that reportedly enables users to create, deploy, and monetize AI agents. According to the report, Virtuals Protocol is said to be developing the concept of tokenization and subsequent co-ownership of AI agents.
Although Virtuals Protocol has had a head start in this attempt to “replicate the pump.fun playbook,” the report questions whether the platform can head off the strong challenge from rivals like Creator.Bid, which saw 300 AI agents created on its platform in the first week.
The Binance report also discusses the potential creation of AI agent-led hedge funds that would use a decentralized autonomous organization (DAO) structure via the platform daos.fun. While this AI agent subsector is said to be in its infancy, the report references Marc Andreessen’s apparent support for one such agent and labels it a “growth area to watch.”
Despite these bright prospects, Binance warns that certain aspects of this AI and crypto crossover still need to be addressed if the concept is truly to take hold. They include dealing with hallucinations of AI models and the capacity of blockchains and their tooling.