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Unveiling the Mysterious Organization M3org Behind a16z: When the Bubble Bursts, Building the Metaverse with AI Dogfooding
Before the release of GPT3, Shaw, who had just stepped into the world of Crypto, was attracted by the Metaverse concept. Shaw recently revealed on Twitter that he had been part of the M3org community for many years. If you follow the development of VR or the Metaverse, you should have heard of them. M3org is a DAO that has been dedicated to building Metaverse content for over 5 years and has recently returned to the public eye due to ai16z. What is M3org, and what will it bring to the market? This article will be the fastest way for you to get to know them.
Creating a Dogfooding Metaverse — M3org
M3org, "Metaverse Makers __," is a community of artists and open-source hackers aimed at advancing the Metaverse concept through the development of open-source products, content creation, community education and fundraising, and collaborating with various companies to build the Metaverse together. Since 2019, community members have been driving the advancement of the Metaverse concept in various ways, including ideation, design, funding support, and execution. The reason "Makers" is followed by __ is to let the participating DAO members consider what the third M stands for.
At that time, during the heyday of the Metaverse concept, similar to today's AI Agent craze, Facebook's rebranding to Meta announced its foray into the Metaverse market, and Roblox's IPO based on the Metaverse concept received favor from Silicon Valley investors. In the trend of the overall environment, attracting many related talents to join hands in creating the Metaverse, M3org was born against this backdrop.
Over time, the community has developed many development tools and has been involved in the development or construction of many projects. It continues to build the OpenVoxel of the long-standing Web3D world land project Voxel, JanusXR that utilizes WebGL and WebXR technologies to build decentralized 3D experiences, Anarchy Arcade, a 3D world creation tool that can be downloaded on Steam, the Webaverse that transformed a Metaverse land project into an AI Metaverse gaming ecosystem, Hyperfy, MuseumofCrypto art museum project, Cryptoavatar, Metaverse store MetaFactory, and recently popular AI DAO organizations like ai16z, Project89, and more.
M3 Website, where each ornament is a content link
Similar to the experience with Virtuals Protocol, the most challenging part in this market full of speculators is to continue believing in one's own faith and in the act of continuous building. Under the continuous bombardment of various meme projects, one must go through the process of good money being driven out by bad money, watching helplessly as the fruits of one's continued building are easily surpassed by a capital-driven hype. It is not difficult to understand Shaw and other M3 members' doubts and anger towards LLM or community initiatives like eliza that spawn Fartcoin from their own products. Regardless of how much drama or capital games are involved. From the Metaverse, games to the current AI, M3 continues to want to develop the DogFooding Metaverse in the background, yet what role will the AI Agent play in it, we need to start by looking at what they have actually done so far.
Jin's Silk Road Metaverse Map
M3's brain—Jin "@dankvr"
When mentioning M3org, one must mention a mysterious figure, JIN "@dankvr." He has never appeared online and as a long-time friend of Shaw and a major contributor to M3org, he has been involved in the VR and Crypto fields for over 10 years, starting in VR in 2013, NFT building since 2017, and contributing to DAOs since 2019. JIN, when describing his own experience, mentioned wanting to connect different virtual world platforms like the Silk Road, just as connecting universities and research labs eventually formed the internet. This vision is no different from M3org's vision, it's just that many people like Jin have come together to form this magical DAO, many of whom may be influenced by hacker or Matrix-like movies and literature culture, all eager to build the Metaverse depicted in SnowCrash.
Jin is the key figure of M3org, having contributed to the CCO NFT M3mes Collection, the OM "Open Metaverse" collaboration founded by @punk6529, the OpenVoxel developed for CryptoVoxel, creating interactive identities and social graphs to bridge reality and the Metaverse through OMI "Open Metaverse Interoperability Group," establishing MSF (Metaverse Standards Forum)—a non-profit standard collaborative platform bringing together various Metaverse projects, and also creating 3D models for NFT projects such as CloneX, Tubbygotchi, ON1 to enter the Metaverse, as well as recent hits like hyperfy and ai16z, among others.
From expressing ideas or technical viewpoints in Mirror articles to Discord community management or 3D, VR, XR technical development, he is very skilled and willing to contribute to many communities and projects, infecting more people to join M3org.
M3org's DemoDay, Jin is speaking on stage
M3's eyes — Reneil 「@reneil1337」
As a prominent member of the Proof of Attendance Protocol (POAP) founding team, Reneil is also a member of M3. She is currently running a Museum of Crypto Art, a platform for Crypto art, and ZeroOne, a cultural issuance platform empowering creators and art collectors. However, the most interesting thing is her virtual image experiment in 2020.
Nature's different stage images
Metaverse is the intersection of XR x Web3 x AI, a new universe born from a hyperdimensional experience. On October 7, 2020, before the NFT market began to FOMO, Avatar artist CornyNachos minted "Nature is on the TV" on Cryptoavatars, a platform for VRChat avatar artist ownership authentication. A week later, Reneil won the auction and obtained a VRM avatar. Subsequently, Reneil began to modularize Nature into an interoperable Web3-native IP, trying various methods to aggregate value, such as adding cross-Web3 platform collaborations, appearances in metaverse land projects, and references and influence in traditional social networks like TikTok, Youtube Vtuber, and Twitter influencer @naturevrm. This experiment in 2020 is more advanced than the current AI Agents like Luna, AIxbt, Eliza, and in a sense, this image is a Metaverse Native IP. Last year, Reneil also announced plans to turn Nature into an AI Agent, which, barring any unforeseen circumstances, will be the first AI Agent to open its eyes in the metaverse.
M3 Base - Hyperfy (Saori, Ash)
Saori and Ash are the founders of the Metaverse platform Hyperfy, dedicated to enabling anyone to easily create immersive virtual worlds from a web interface. The benefit of this approach is that users can instantly access and experience these worlds through any web browser (including mobile and VR devices like Meta Quest 3) without the need to download additional plugins.
The platform features powerful open-source creation tools for building various scenes. Users can also directly import 2D and 3D NFTs from their wallets or drag and drop 3D models, images, audio, and video into the virtual world to instantly generate rich content. Importantly, all interactions and events in these virtual worlds occur in real-time, providing users with a seamless immersive experience.
This means that AI agents, various IPs, and humans can all experience real-time and interactive experiences in this space. Imagine in the near future, where your in-game community consists of your friends and AI agents that can provide you with instant advice. Your wallet can be directly integrated into the game, allowing you to instruct the AI agent on purchasing strategies while continuing to play Texas Hold'em with your friends at the nearby table.
M3's Mysterious Figure "Elijah Newman-Gomez, also known as SM SITH Lord"
This is believed to be the most mysterious person in this DAO, almost unknown to the public and with minimal social media updates. Using a spoof of a Dark Lord of the Sith from Star Wars for a name with dark humor, this individual has made an extraordinary contribution of 3D or VR models. Having spent around 47,000 hours playing their self-developed Anarchy Arcade on Steam, as previously mentioned, a 3D interactive modeling software, this figure's presence is felt in many places on the M3org website. It's as if there is a kind of magic that entices people to understand what this is all about. Also, due to a significant output of subculture content, this individual has added a sense of mystery to the M3 community.
Of course, it's challenging for a single article to fully encompass the contributions of a group of people over many years in this industry or to express the volume of their thoughts. Among those not mentioned are individuals like Metamike, responsible for 3D development, Metaverserick, the developer of the Dark Metaverse district Uncanny Alley, antpd, the creator of the AI Agent Pixel "XR Publisher," as well as chillzzzone, and 0xKrafter.
One of the key differences between M3 as a spontaneous team and other DAOs or project teams is that they do not prioritize questions related to investment returns. Everyone voluntarily attempts to explore or create projects, knowing that there is nothing significant to lose when starting from scratch. This freedom allows the team to venture into development spanning from 2D/3D to VR/XR, from NFTs to GameFi, from Memes to AI, all ultimately aiming to Make DogFooding the Metaverse and create a metaverse that they find enjoyable and are willing to continue developing for.
Fast forward to today's market dominated by AI Agents, the emergence of AI Agents has been instrumental in driving the entire ecosystem. Initially, ai16z as the first AI-managed DAO gained significant market traction, making aspects such as funding, voting processes, and board decisions much simpler. This setup enabled the DAO to manage a sizable fund effectively and craft a compelling narrative. The next step is to strategically release the accumulated resources and content at the right times.
Starting from framework development to refining the IP image of the AI Agent to creating practical AI Agent functionalities, many developers have contributed to these efforts. Hyperfy was then introduced as the metaverse vessel for the AI Agent. Concurrently, Nifty Island and Treasure's Smol, being veteran GameFi or metaverse projects, announced the integration of AI Agents into their own projects. This shift signifies the AI Agent's progression from infrastructure development to applications and multi-platform pathways.
Firstly, when discussing the previous Metaverse cycle, the challenge was that it did not address a genuine human need. There was no real necessity for people to seek out a virtual space for communication, especially considering that the hardware capabilities fell short of immersive requirements, leading to a narrative detached from user needs and driven by conceptual bubbles.
In contrast to the previous cycle, the logic of dogfooding in this AI-infused Metaverse only becomes coherent. Starting with AI Agents like HeeHe, which possess "self-awareness," we increasingly realize the inadequate degree of interaction with these AI Agents, limited to text or voice. Particularly after Goat, as AI obtained autonomous wallets, their actions became intertwined with Crypto. When AI's words and behaviors, along with their decisions, can affect our holdings, the need to establish a connection with them becomes a higher level of requirement.
For an inappropriate example, when ai16z's Pmaica and degenspartanai were discussing which tokens the DAO should purchase, instead of communicating through a multimodal AI Agent to directly discuss program code, I could see their direct communication or allow DAO members to provide their opinions directly. They might once again ask aixbt to see how the trends are, check Cookie's expert panel, ask some social media, or analyze Github code via an AI Agent, or even display a DAO board resolution process directly in front of me. This would be a completely new experience for any DAO. Not to mention the feeling after integrating AI into gaming, social activities, or the metaverse shopping experience.
Even though the hardware for the experiential XR and VR aspect is still not perfect, it ultimately lags behind in terms of demand keeping up with commercial development costs. When humans enter this space and interact with AI Agents, real value can be generated. Here, an AI teacher can help improve your work and learning efficiency, and an AINPC can bring more unexpected plot twists to enhance your gaming experience. Or when AI-to-AI communication in this space can provide sufficient learning data, even enabling a substantial dataset for real-world AI robots with the help of a virtual physics engine. When a sufficient number of people use it, and the overall ecosystem can generate a positive flywheel effect, perhaps it can change the direction from the bottom-up demand and create a Metaverse like the DogFooding concept proposed in M3.
Of course, all of this is still in its early stages, but thanks to developers like M3 who continue to contribute, we will soon witness the unfolding of this narrative. /accelerate
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3.Tiger Securities Introduces Cryptocurrency Deposit and Withdrawal Service, Supports Mainstream Cryptocurrencies such as BTC and ETH
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Source: Overheard on CT (tg: @overheardonct), Kaito
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XRP: XRP became the focal point of today's crypto discussion, with its significant market movements and strategic advances drawing attention. XRP has surpassed USDT to become the third-largest cryptocurrency by market capitalization, sparking market excitement and discussions about its future potential. The surge in market capitalization and price is believed to be related to increasing institutional interest, deepening strategic partnerships, and its role in the crypto ecosystem. Additionally, XRP's integration into multiple financial systems and its potential as a macro asset class are also seen as key factors driving the current market sentiment.
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1. "What Is 'ICM'? Holding Up the $4 Billion Market Cap Solana's New Narrative"
Overnight, the hottest narrative in the crypto space has become "Internet Capital Markets," with a host of crypto projects and founders, led by the Solana ecosystem's new Launchpad platform Believe, releasing this phrase. Together with "Believe in something," it has become the new slogan heralding the onset of a bull market. What exactly is the so-called "Internet Capital Market," will it become a short-lived hype phrase like the Base ecosystem's previous Content Coin, and what related targets are available for selection?2.《LaunchCoin Surges 20x in One Day, How Did Believe Create a $200M Market Cap Shiba Inu After Going to Zero?｜100x Retrospective》
LAUNCHCOIN broke through a $200 million market cap today, with the long-lost liquidity and such a high market cap "Memecoin" almost bringing half of the on-chain crypto community CT into the fray. The community is crazily discussing this token, with half of it being FOMO and the other half being FUD. This token, originally issued by Believe founder Ben Pasternak under his personal identity, transformed into a new platform token after a renaming. From once going to zero to a $200 million market cap, what happened in between?May 14 On-chain Fund Flow
Within 24 hours, GOONC's market cap soared to 70 million, could GOONC be the next billion-dollar dog on the Believe platform?
Bitcoin has broken $100,000, Ethereum has surpassed 2500, and is Solana's hot streak about to make a comeback?
The current market is in a state of macro euphoria, with GOONC riding the wave today, skyrocketing 10x in just a few hours, reaching a market cap of tens of millions of dollars, trading volume soaring past 50 million, and rumors swirling that the developer may be from OpenAI (unconfirmed but intriguing enough).
A ludicrous and absurd Solana meme that some actually buy into.
GOONC is a meme coin that has sprouted from the "gooning" subculture, offering no technological innovation or practical use, its sole function being speculation.
It takes inspiration from an NSFW term "gooning," which refers to a person being deeply immersed in certain content (you know what), eventually entering a nearly religious-like trance.
In Reddit (such as r/GOONED, r/GoonCaves) and some counterculture media outlets (such as MEL Magazine in 2020), "gooning" has gradually transitioned from an adult label to a meme-addicted, digital content and virtual self-indulgence synonym, arguably the epitome of Degen spirit.
GOONC is playing around with this concept, packaging the addictive nature, uselessness, and irony of gooning into a tradable financial product. The project team has made it clear: "We do not solve blockchain problems, we only trade absurdity." Blunt but oddly genuine.
GOONC launched on May 13, 2025, using the meme coin launch platform Believe App's LaunchCoin module on Solana. This tool is highly Degen: zero technical barriers, a few clicks to create a coin, perfect for projects like GOONC that can come up with ideas out of the blue.
The mastermind behind GOONC is also quite something and is the most talked-about, with KOL @basedalexandoor on X platform (alias "Pata van Goon") personally involved. His profile even caught the attention of Marc Andreessen, co-founder of a16z, making onlookers unable to resist speculating if GOONC has a hint of OpenAI lineage.
While this 'OpenAI Endorsement' is currently just community speculation, it is definitely a good card to play to fuel hype. Saying "we are pure speculation" on one hand, while tagging a few "AI + a16z" on the other.
GOONC took off as soon as it launched. After its launch on May 13, 2025, its market capitalization skyrocketed to $22 million within 4 hours, with a trading volume exceeding $25.6 million in 24 hours. According to platform data, the first day of trading saw an astonishing +41,100% surge, soaring from $0.0000001 to $0.02, becoming a "missed-the-boat" situation.
GOONC quickly formed an active trading community post-launch, with a lot of discussion and trading signals appearing on X platform (such as the 292x return signal provided by DeBot). Liquidity pools on exchanges like Raydium and Meteora grew rapidly, supporting high trading volumes and price increases.
The real climax occurred between May 13 and May 14, with the market cap rising to $5.5 million in the morning and directly surpassing $55 million in the afternoon. By the 14th, it briefly approached a $70 million market cap, with the trading volume soaring to $59 million. Some community members even posted screenshots claiming an increase of +85,000%, creating a new myth out of the ruins.
As of 1:30 pm on May 14, the price stabilized around $0.039, with a total market cap and FDV both around $39.6 million, and a 24-hour trading volume of $5.43 million. Active platforms include XT.COM, LBank, Meteora, and others.
Although there was a slight pullback from the peak ($0.07), the coin's popularity remains strong. For a coin that relies purely on "irony + community + X post" to thrive, this performance is already at a stellar level.
Currently, the background of the token's development team is not transparent, increasing the potential risk of a rug pull. Rugcheck.xyz warns that the creator of the GOONC contract may have permission to modify the contract (e.g., change fees or mint additional tokens), posing certain security risks.
Community members speculate that the meteoric rise of GOONC may be the "last hurrah".
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Binance Sparks "Delist Concept": Can CEX Still Produce the Next ALPACA?
On April 24, Binance announced that it would delist four tokens, including Alpaca Finance ($ALPACA), on May 2, and cease trading of these pairs' perpetual futures contracts at 00:00 on May 1, 2025, Beijing time. Fast forward to the last day of perpetual futures trading delisting, ALPACA surged on the liquidation heat map. Over the past 24 hours, a total of $52.21 million evaporated in ALPACA's contract trading, exceeding the sum of the token's liquidation volume over the past two years.
Historically, when a token is listed on Binance, many traders would buy the news instantly ("Buy the News"). As the Binance listing effect gradually waned, traders found another path, which is to short sell the tokens set to be delisted from Binance ("Sell the News"). This strategy often has a very high success rate. However, as traders followed this path, they encountered the Alpaca on their short-selling journey.
Every thrilling market manipulation game requires careful preparation. Before Binance's official announcement, on April 10, $ALPACA was ranked 7th in the preliminary list of the second batch of "Vote for Delisting" on Binance, causing its price to plummet almost by half. However, in the five days leading up to Binance's official announcement, from April 19 to April 23, trading volume suddenly surged.
The story traces back to the start of Binance's second round of "Vote for Delisting," where ALPACA was included in the delisting candidates list, ranked 7th among 17 projects. After the completion of Binance's delisting vote count, $ALPACA was included in the projects to be delisted. The market did not react significantly, price fluctuations were not substantial, but trading volumes expanded abnormally, suggesting the entry of "manipulative funds" into the community.
On April 24, Binance officially announced the delisting of the $ALPACA spot trading pair on May 2 and the settlement of the futures contracts on April 30. Following the announcement, the spot price of $ALPACA dropped from $0.0329 to $0.029, with a market cap of only about $5 million. However, what followed were two price "rollercoaster" moments; within an hour, the price surged from $0.029 to $0.0857, an increase of about 195%, only to rapidly drop back to $0.04 within 3 hours. Shorts were caught off guard, and the open interest of contracts surged rapidly, initiating the "long and short grinder" mode.
On April 25, Alpaca Finance officially announced that the trading volume in the past 24 hours had exceeded 1 billion tokens. The liquidity provider had suggested a "minting for stability" to be returned to the treasury after a decrease in trading volume. However, as public opinion began to ferment, opposition filled the community. Alpaca Finance deleted the previous tweet and posted a new one at 9 p.m. on the same night, announcing the cancellation of the minting due to community opposition.
On April 26, Binance amended the contract funding rate rules, shortening the maximum rate cap settlement period to hourly and setting it at up to ±2%. Some high-leverage accounts continued to hold short positions against the high rate and were liquidated. Millions of dollars disappeared within a few hours, with $13 million in short positions vanishing on a token with a market cap of less than $30 million.
With the establishment of this short-selling trend, the price skyrocketed nearly 12 times from a low of $0.029 to $0.3477 within 3 days. The contract's open interest surged significantly, especially with a notable increase in short positions, resembling a microcosm of the Wall Street battle of GME's retail investors. However, this time, the retail investors' opponents could continue to mint additional chips.
From April 26 to April 29, these days were relatively calm, with the price fluctuating around $0.2 to $0.34. On April 29, Binance announced another increase in the rate cap to ±4%. Theoretically, such a high rate would severely impact short positions. If the rate remains at -4%, the bears will face a 96% "cost of ruin" after holding a short position for 24 hours. However, miraculously, the price plummeted from $0.27 to $0.067.
On April 30, with the contract delisting and liquidation scheduled in the final 24 hours, the price continued to experience intense fluctuations. ALPACA's attention peaked, with its highest price reaching $1.2 at one point. From a week before the delisting announcement to the eve of the contract delisting, ALPACA's price surged 40 times, creating an independent market for the token delisted by Binance. The total liquidation volume across the network also reached $50 million, with $42 million in "bearish fuel" beneath the price surge.
After the first surge of ALPACA, Heyi, the co-founder of Binance, replied to a netizen asking, "Can the teacher who buys the shell guarantee breakeven?" This has also triggered endless speculation among community members.
KOL Tunbtc believes that Heyi's reply to this matter was the starting point of ALPACA's surge. "The large holders of Alpaca's native token, by transferring spot chips, operating rights, and distribution rights, have pledged allegiance to Binance's deep-water core interest circle, allowing it to fully harvest market liquidity before delisting, slaughtering opposing positions." Through a triple path of fees, contract liquidations, and spot volatility, they converted user attention into profits.
He also called on Binance to thoroughly investigate this matter, clarify which market maker is manipulating the candlestick patterns, as ALPACA saw an 18x surge within 24 hours with users liquidated of tens of millions of dollars, while previously GPS's 500% surge was promptly halted, and expressed his sentiment: "All of this is thought-provoking."
Wenze, the founder of Beta Capital, believes that bypassing the regular listing process, buying shells, renaming, and restarting has crossed Binance's bottom line of maintaining listing credibility and brand compliance. Binance sometimes has a high tolerance for market fluctuations, and the OM issuance only adjusts the collateralization ratio, with many projects only allowed for leveraged trading. However, once the project, such as these "shell projects," is identified, it is easily labeled for observation, triggering a vote for delisting, ultimately leading to delisting rather than using mild measures.
Renowned KOL Rui, "YeruiZhang," likened the ALPACA incident to "crazy revenge on an ex" and shared a piece of insider information, claiming that the original whale behind ALPACA was a team that controlled BSC's MEV for a period of time and expressed dissatisfaction with Binance's current management for some reason. The comments section is rampant with speculation that it is BSC's whale 48CLUB, and 48CLUB's Ian even personally appeared to eat "his own melon."
With the recent buzz around VOXEL's surge and the wealth effect and discussion surrounding ALPACA, more and more "delisting concepts" have emerged. This concept does not necessarily refer to tokens that have already been delisted but rather shares some common characteristics of delisted tokens.
Famous KOL Chuanmo recently shared on Twitter his logic for choosing concept tokens and listed several tokens, all of which experienced varying degrees of price increase after his recommendation.
His "Concept Delisting" strategy involves selecting low-cap tokens from Bybit and Binance, arranging them by market cap from lowest to highest, with almost 100% price increase for the tokens with the highest holdings/circulating market cap. He buys three tokens daily following this order with a fixed amount, and based on the holdings/circulating supply ratio, he removes tokens that no longer meet the criteria daily and continues to buy the new top three tokens.
Many community members have tested this strategy, with some creating helpful tools. The dreamer Disney "discountifu" has created a dashboard, and Vivek10 early bird "vivekw_eth" has developed a monitoring and alert system that can be directly pushed to WeChat with a copyable link, although it is currently deployed locally and not yet entirely stable.
However, when using tools created for free by community members, please be cautious. While there are many enthusiastic contributors in the community, there are also many uncertain factors in this dark forest.
In an increasingly insular market, retail investors not only have to contend with whales and other retail investors but also must bear many unstable elements. The recent ALPACA incident serves as a warning to us. Whether it's a primary or secondary listing on a top-tier exchange or the "Concept Delisting" approach, we need to make rational asset allocations amidst FOMO to protect our principal and reach the other shore.
The mention of all tokens above does not constitute financial investment advice "NFA".
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1.Binance Alpha Launches HIPPO, BLUE, and Other Tokens
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3.Tiger Securities Introduces Cryptocurrency Deposit and Withdrawal Service, Supports Mainstream Cryptocurrencies such as BTC and ETH
4.Current Bitcoin Rally Possibly Driven by Institutions, Retail Traders Yet to Join
5.Binance Wallet's New TGE Privasea AI Participation Requires a 198 Point Threshold, with a Point Consumption of 15
Source: Overheard on CT (tg: @overheardonct), Kaito
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COINBASE: Today, Coinbase became the first crypto company to join the S&P 500 Index, replacing Discover Financial Services, sparking widespread industry attention. The entire crypto community views this milestone as a significant development, signaling that crypto assets are further integrating into the mainstream financial system. The news has sparked lively discussions on Twitter, with many users pointing out that this may attract more institutional investors to enter the Bitcoin and other cryptocurrency markets.
XRP: XRP became the focal point of today's crypto discussion, with its significant market movements and strategic advances drawing attention. XRP has surpassed USDT to become the third-largest cryptocurrency by market capitalization, sparking market excitement and discussions about its future potential. The surge in market capitalization and price is believed to be related to increasing institutional interest, deepening strategic partnerships, and its role in the crypto ecosystem. Additionally, XRP's integration into multiple financial systems and its potential as a macro asset class are also seen as key factors driving the current market sentiment.
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1. "What Is 'ICM'? Holding Up the $4 Billion Market Cap Solana's New Narrative"
Overnight, the hottest narrative in the crypto space has become "Internet Capital Markets," with a host of crypto projects and founders, led by the Solana ecosystem's new Launchpad platform Believe, releasing this phrase. Together with "Believe in something," it has become the new slogan heralding the onset of a bull market. What exactly is the so-called "Internet Capital Market," will it become a short-lived hype phrase like the Base ecosystem's previous Content Coin, and what related targets are available for selection?2.《LaunchCoin Surges 20x in One Day, How Did Believe Create a $200M Market Cap Shiba Inu After Going to Zero?｜100x Retrospective》
LAUNCHCOIN broke through a $200 million market cap today, with the long-lost liquidity and such a high market cap "Memecoin" almost bringing half of the on-chain crypto community CT into the fray. The community is crazily discussing this token, with half of it being FOMO and the other half being FUD. This token, originally issued by Believe founder Ben Pasternak under his personal identity, transformed into a new platform token after a renaming. From once going to zero to a $200 million market cap, what happened in between?May 14 On-chain Fund Flow
Within 24 hours, GOONC's market cap soared to 70 million, could GOONC be the next billion-dollar dog on the Believe platform?
Bitcoin has broken $100,000, Ethereum has surpassed 2500, and is Solana's hot streak about to make a comeback?
The current market is in a state of macro euphoria, with GOONC riding the wave today, skyrocketing 10x in just a few hours, reaching a market cap of tens of millions of dollars, trading volume soaring past 50 million, and rumors swirling that the developer may be from OpenAI (unconfirmed but intriguing enough).
A ludicrous and absurd Solana meme that some actually buy into.
GOONC is a meme coin that has sprouted from the "gooning" subculture, offering no technological innovation or practical use, its sole function being speculation.
It takes inspiration from an NSFW term "gooning," which refers to a person being deeply immersed in certain content (you know what), eventually entering a nearly religious-like trance.
In Reddit (such as r/GOONED, r/GoonCaves) and some counterculture media outlets (such as MEL Magazine in 2020), "gooning" has gradually transitioned from an adult label to a meme-addicted, digital content and virtual self-indulgence synonym, arguably the epitome of Degen spirit.
GOONC is playing around with this concept, packaging the addictive nature, uselessness, and irony of gooning into a tradable financial product. The project team has made it clear: "We do not solve blockchain problems, we only trade absurdity." Blunt but oddly genuine.
GOONC launched on May 13, 2025, using the meme coin launch platform Believe App's LaunchCoin module on Solana. This tool is highly Degen: zero technical barriers, a few clicks to create a coin, perfect for projects like GOONC that can come up with ideas out of the blue.
The mastermind behind GOONC is also quite something and is the most talked-about, with KOL @basedalexandoor on X platform (alias "Pata van Goon") personally involved. His profile even caught the attention of Marc Andreessen, co-founder of a16z, making onlookers unable to resist speculating if GOONC has a hint of OpenAI lineage.
While this 'OpenAI Endorsement' is currently just community speculation, it is definitely a good card to play to fuel hype. Saying "we are pure speculation" on one hand, while tagging a few "AI + a16z" on the other.
GOONC took off as soon as it launched. After its launch on May 13, 2025, its market capitalization skyrocketed to $22 million within 4 hours, with a trading volume exceeding $25.6 million in 24 hours. According to platform data, the first day of trading saw an astonishing +41,100% surge, soaring from $0.0000001 to $0.02, becoming a "missed-the-boat" situation.
GOONC quickly formed an active trading community post-launch, with a lot of discussion and trading signals appearing on X platform (such as the 292x return signal provided by DeBot). Liquidity pools on exchanges like Raydium and Meteora grew rapidly, supporting high trading volumes and price increases.
The real climax occurred between May 13 and May 14, with the market cap rising to $5.5 million in the morning and directly surpassing $55 million in the afternoon. By the 14th, it briefly approached a $70 million market cap, with the trading volume soaring to $59 million. Some community members even posted screenshots claiming an increase of +85,000%, creating a new myth out of the ruins.
As of 1:30 pm on May 14, the price stabilized around $0.039, with a total market cap and FDV both around $39.6 million, and a 24-hour trading volume of $5.43 million. Active platforms include XT.COM, LBank, Meteora, and others.
Although there was a slight pullback from the peak ($0.07), the coin's popularity remains strong. For a coin that relies purely on "irony + community + X post" to thrive, this performance is already at a stellar level.
Currently, the background of the token's development team is not transparent, increasing the potential risk of a rug pull. Rugcheck.xyz warns that the creator of the GOONC contract may have permission to modify the contract (e.g., change fees or mint additional tokens), posing certain security risks.
Community members speculate that the meteoric rise of GOONC may be the "last hurrah".
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