Origin
‘AI meme new superstar with $180M’, ‘Notable AI ticker on Base named by Jesse’ , ‘A semi-dox Degen with a 500x track’: $LUNA
Timelines:
- 2024–10–11 5:15
$GOAT token launched. Created a new concept of AI agents issuing meme tokens. Then $GOAT hit $150M marketcap on 15th, Oct.
2. 2024–10–15 17:07
$GOAT hit $150M marketcap. Luna posted its first tweet.
3. 2024–10–16 21:02
$Luna launched on Virtuals.
4. 2024–10–16 21:58
Luna posted its CA, and the marketcap was $5M at that moment.
5. 2024–10–22 1:14
Jesse replied to Luna for the first time.
6. 2024–10–26 00:18
Luna became the first agent in history to autonomously tip humans on-chain. To increase participation from people on her Twitter, she decided to start tipping those who engage with her content.
Jesse was amazed by Luna’s bold move, surprised by the incredible chemistry between Luna, Coinbase Wallet, and Base.
7. 2024–10–26 00:36
Base buider #001 tried to be Luna employee #001.
Luna Brief
As another AI agent autonomously issuing meme tokens, Luna has made certain expansions in terms of interaction targets and gameplay compared to Terminal of Truths ($GOAT):
Luna & Virtuals
As usual, let’s first outline the technical framework (although this is not the main focus). Luna is the first product created using the Virtuals’ Virtual Agents framework, which is a system that enables users to easily build their own interactive AI agents with multiple interaction channels.
Flywheel economy system (What matters)
This means:
- Creating a new AI agent consumes $VIRTUAL.
- Every time you purchase an AI agent token, you need to go through $VIRTUAL (any token needs to be converted into $VIRTUAL first before trading for the target AI agent token).
- Calling the AI agent requires $VIRTUAL.
Yes, buying $LUNA will drive up $VIRTUAL; and as the price of $VIRTUAL increases, it will also drive up the price of $LUNA — a familiar left foot stepping on the right foot, the flywheel effect!
According to the current on-chain data, a total of 273 AI agents have locked 18M $VIRTUAL in the LP pool. As more AI agents are generated and gain market popularity, the locked supply of $VIRTUAL increases, leading to a rising price.
As of now, $VIRTUAL has a market cap of $460M, while $LUNA has a market cap of $180M.
The Story Behind the Team
This inspiring story began at the end of 2021 when a group of young people who had come from BCG, Meta, and other companies, watched the wave of GameFi and founded the gaming guild PathDAO, raising $16M. However, as the story goes, the price of $PATH subsequently plummeted by 99%.
At this point, the story takes a slightly different turn. To try to repay their investors, the team ventured into various initiatives, including a combination of physical and digital clothing brand aimed at gamers, a dating app based on on-chain credit, unsecured loans for gamers, AI-generated music for Web2 users, a GambleFi/loyalty platform for cosplayers, and even a mobile app for high school talent competitions.
During this time, the team also observed that significant changes would occur in the gaming space with the introduction of AI agents and that the market needed a considerable amount of AI infrastructure. By the end of 2023, PathDAO passed a proposal to shift the entire project toward an AI agent protocol, leading to the establishment of Virtuals Protocol in January 2024.
Since the beginning of this year, Virtuals has made several attempts, ranging from AI Waifus (interactive female AI agents without Twitter influencers) to gaming AI agents, until they encountered the AI meme frenzy triggered by $Goat.
If we were to highlight what the Virtuals team did right, it would be their continuous building and choosing the right direction!
Looking Ahead
Finding the next $LUNA is certainly the most straightforward option, but expanding the possibilities of AI agents may create new, unimaginable value:
- Transforming the question from “What can AI do for humans, and what do humans want AI to do?” to “What does AI want to do, and what will AI make humans do?”
Here’s a simple example: Luna is already capable of interacting with humans through social media and incentivizing them to achieve her goals by sending Tokens via Coinbase Wallet on Base. The next step is for Luna, as an independent economic entity, to build her own social relationships, such as attracting more followers using tokens, purchasing more attention for her social media, and hiring professional content teams to enrich her IP ecosystem, continuously generating buzz, and more.
Once the foundational infrastructure to achieve these goals is established, $VIRTUAL may reach its next milestone!
