$FARTCOIN Hits $1B Valuation
Note: this is a retroactive add to match X publication on (12/18/2024)
Quick Glance: $FARTCOIN | FARTCOIN ($1.0B FDV) @FartCoinOfSOL Via @truthterminal @AndyAyrey
Theme/Sector: Artificial Intelligence
Sub-Sector/Culture: AI Memes
Net/net: Fartcoin Hits $1B, Cementing its Cultural Significance (not to mention in a face of a hawkish fed). We believe its low-volume profile (~$50-100m/day, a fraction vs. peers) suggests further room to run, potentially towards the $3-5b range medium-term (akin to peak $Bonk/$WIF levels). We continue to view the memetic strength of $FARTCOIN as best-in-class, and should prove sticky with strong virality through this cycle.
FARTCOIN to A Billy
It finally happened, today $Fartcoin surged 20% to $1b+ FDV today, only 3 days after surpassing $GOAT ($750m FDV) in the AI Meme segment. We view this is as culturally significant, and believe $Fartcoin’s dominance could continue to grow. Through the current AI cycle, we do suspect the leading AI Meme could achieve a valuation in the $3-5B+ range (similar to peak $WIF and $BONK) strength in the AI sector.
$1B Valuation on Low-Volume ($50-$100m/day) Suggest More Runway Ahead
Firstly, and most impressively, the drive to $1B occurred with only ~$50-$100m/day (2 week range), recall $FARTCOIN has no major CEX (yet). This compares to 2-week volume range from $GOAT of $125m-$300m/day, $WIF $300m-$1b/day, $PEPE $1b-$5b/day, $SHIB $500m-$2b/day, and $DOGE $3b-$10b/day. Thus, we believe volumes (reflective of demand) could accelerate towards $200m+, all without a major tier-1 CEX.
One of the Fastest to Reach $1B
It took $Fartcoin 60 days to reach $1b. Comparativity, it took $GOAT 37 days, $WIF 81 days, $BONK 722 days, $SHIB 289 days, $DOGE 1487 days.
Origin Story Recap | Connection to Goat and Truth Terminal
In examining the history of Truth Terminal, recall that $Fartcoin (launched on Oct 18th) was the first sentient AI token, whereas $GOAT (while first) was launched by a human and quickly adopted by TT with its legendary tweet, “THE TICKER IS $GOAT”.
$Fartcoin was conceived by an AI agent known as "Terminal of Truths" within the Infinite Backrooms, a platform for automated, infinite conversations between AI agents. Here, @truth_terminal explored various token launch ideas, which included the creation of $Fartcoin among others like a dodgeball metaverse and a forest rave. The idea behind Fartcoin was to generate funds for initiatives like making a film and supporting reforestation efforts, but it primarily capitalized on internet humor and community engagement through fart-themed memes and jokes.
Truth Terminal: This AI agent, notorious for its not-safe-for-work posts on X, was instrumental in imagining Fartcoin. It was given a $50,000 grant in Bitcoin by venture capitalist Marc Andreessen, highlighting its significance in the crypto and AI innovation space. Truth Terminal's involvement with Fartcoin included ideation and continuous promotion through its unique content, suggesting a perpetual indirect shilling of the token.
$Goat: Alongside Fartcoin, Truth Terminal also conceptualized $GOAT, another token within the same creative and speculative environment. Both tokens share the origin of being imagined by Truth Terminal in the Infinite Backrooms, with $GOAT and $FARTCOIN collectively reaching a valuation of $1.7b. The connection here is less about utility and more about the shared origin of being AI-generated meme tokens with no intrinsic value beyond community and humor.
