ACT is a meme token running on the Solana chain, dedicated to breaking down the barriers of AI understanding.
Written by: 1912212.eth, Foresight News
Today, Binance announced that it will launch spot trading for The AI Prophecy (ACT) at 6 PM. Following the announcement, ACT experienced a surge, with the price increasing more than tenfold in just ten minutes, and the market cap rising from $20 million to $240 million, with the price briefly soaring to around $0.3.
The meme wave is still ongoing, and it is quite rare for Binance to list a token with an initial market cap of only $20 million. So, what exactly is ACT?
ACT is a meme token running on the Solana chain, with a maximum supply of nearly 1 billion tokens. The AI Prophecy is a decentralized research lab focused on empirical research into the dynamics of multiple humans and multiple AIs. Its core mission is to democratize AI knowledge and make it easily accessible to everyone. Through various programs, resources, and community-driven content, ACT is committed to breaking down the barriers of AI understanding. The community focuses on helping people learn the basics of AI, encouraging discussions about AI ethics, and supporting research and development in the field.
ACT's Twitter and TG group have a total of only 10,000 followers, and the logo image is an AI-generated image of a human eye.
The community has also provided $1 million in funding to a team of AI researchers supported by Marc Andreessen. Previously, Andy Ayrey was part of this research team and founded the well-known AI meme coin GOAT. A member of this team, AmplifiedAmp (referred to as Amp), co-founded The AI Prophecy with some other members.
Amp promised that the project would focus on nurturing a decentralized, community-driven ecosystem. Initially, 6% of the token supply was transferred to Amp as startup funding for the project.
However, what happened next surprised most people.
Amp continued to sell ACT tokens for profit while claiming to act in the collective interest.
This led to considerable dissatisfaction and resentment among community members, and AMP stated that it had stopped selling tokens, also claiming that it was not a meme coin trader or the head of a crypto project, but merely an AI developer supported by fans.
In addition, he destroyed an equivalent number of ACT tokens to those he sold, totaling 1,745,004 tokens, which were worth $41,000 at the time, but are now valued at as much as $3.87 million.
Ultimately, Amp sold all ACT tokens and chose to leave. This left many in the community feeling betrayed, and the token price experienced several dramatic fluctuations.
After Amp's exit, the community did not disband; instead, it showed unity and secured over $1 million in project funding. The official website stated that since Amp's departure, ACT has been a fully community-driven project, with decisions made collectively by dedicated members. Furthermore, the ACT community has focused on AI knowledge sharing and education, aiming to democratize AI knowledge and make it accessible to everyone.
After Binance announced the listing of ACT, AMP tweeted that ACT had always been a brand without its permission and acknowledged that it had distributed, destroyed, and sold all of its ACT tokens, also expressing a desire for it not to be listed on centralized exchanges. Finally, it stated a willingness to help the community transition smoothly to a new brand.
According to Binance's listing announcement, the listing fee for ACT was 0 BNB, which was later verified by @0xWizard, who is quite active in the ACT community. This is rare compared to the exorbitant listing fees of millions or tens of millions of dollars that have been exposed recently.
Since the rise of AI tokens like GOAT, AI concept tokens have attracted market attention and influx of funds, including AI agents, AI computing, and more. AI meme tokens are highly volatile, and investors should be cautious about risk control.
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