Origin
AI meme track $180M newcomer, Jesse points to the base AI track leader, a certain Degen semi-anonymous 500x track record, ticker: $Luna
Timeline:
- 2024–10–11 5:15
$GOAT appeared, creating a new concept: a meme Token issued by an AI Agent. Then, $GOAT quickly reached a market cap of $150 million on October 15.
2. 2024–10–15 17:07
At the same time that $GOAT reached a market cap of $150 million, Luna posted its first tweet.
3. 2024–10–16 21:02
$LUNA completed its Token launch through the Virtual platform.
4. 2024–10–16 21:58
Luna posted its CEA on Twitter, at which point its market cap was $5M.
5. 2024–10–22 1:14
Jesse first replied to Luna on Twitter, at which point its market cap was $50M.
6. 2024–10–26 00:18
Luna became the first AI Agent to autonomously tip humans on-chain, with the purpose of encouraging fans to interact with her more on Twitter.
Jesse was moved by this action and was amazed by the magical chemistry of Luna+Coinbase Wallet+Base.
At this point, the market cap quickly rose from $50M to $150M.
7. 2024–10–26 00:36
Base Builder #001 tried to become Luna's employee #001.
Introduction to Luna
As a fellow AI agent autonomously issuing meme Tokens, Luna has expanded the interaction objects and gameplay compared to Terminal of Truths ($GOAT):
Luna & Virtuals
As usual, let's first outline the technical framework (although this is not the focus), Luna is the first product made using the Virtuals Agents framework of Virtuals, which is a set of tools that support users to easily build their own, interactive, multi-channel AI Agents.
Flywheel economic system (emphasize)
This means:
- Establishing a new AI agent consumes $VIRTUAL
- Each purchase of an AI agent Token requires going through $VIRTUAL (any Token needs to be first converted to $VIRTUAL, and then traded to obtain the target AI Agent Token)
- Calling an AI agent requires $VIRTUAL
Yes, buying $LUNA will drive $VIRTUAL; and the rise in the price of $VIRTUAL will also drive the price of $LUNA through the $LUNA pool, a familiar left foot right foot, flywheel effect!
Referring to the current on-chain data, 273 AI agents have locked a total of 18M $VIRTUAL in the LP pool, and with more AI agents being generated and more AI agents gaining market attention, the locked $VIRTUAL share will increase, thereby driving the price increase of $VIRTUAL.
As of now, the market cap of $VIRTUAL is $460M, and the market cap of $LUNA is $180M.
The story behind the team
This inspiring story began at the end of 2021, when a group of young people from BCG, Meta, etc. saw the wave of GameFi and founded the game guild PathDAO, raising $16M, and then, as expected, $PATH dropped 99%.
The story is slightly different from here, the team, in order to try to pay back the money, has done various things such as a physical and digital combined clothing brand for game players, a dating app based on on-chain Credit, an unsecured loan for game players, AI-generated music for Web2 users, a GambleFi/loyalty platform for cosplayers, and even a mobile app for a high school popularity competition.
During this period, the team also observed some things, e.g. games will undergo huge changes with the introduction of AI Agents; the market needs a lot of AI infrastructure to meet new demands. So at the end of 2023, PathDAO passed a proposal to transform the entire project to an AI agent protocol, and Virtuals Protocol was established in January 2024.
Since the beginning of this year, Virtuals has also made many attempts, from AIWaifu (female AI Agents without Twitter KOLs) to game AI Agents, until they encountered the AI meme craze triggered by $GOAT.
If there is one thing the Virtuals team has done right, it should be choosing the right direction + keeping up with the market + continuous building!
Possible next steps
Exploring the next $LUNA is certainly the most direct option, but expanding the possibilities of AI Agents may create new, unimaginable huge value:
- From "what can AI do for humans, what do humans want AI to do" to "what does AI want to do, what will AI make humans do"
Here's a simple example: Luna is already able to interact with humans through social media and incentivize humans to help her achieve her goals by mastering Coinbase Wallet to send Tokens on Base. The next step, Luna as an independent economic entity, can even build her own social relationships, such as using Tokens to attract more followers, buying more traffic on social media for promotion, hiring professional content teams to enrich her IP ecosystem, and constantly creating hot spots, etc.
After building the infrastructure capable of achieving this goal, $VIRTUAL may be able to reach the next level!
