i'm seeing some #Project89 FUD flying around so i think i should clear the air
the FUD is insinuating that Project89 is a scam because the dev who originally launched the 'crypto token' on Pumpfun has launched a lot of other tokens on Pumpfun
i generally ignore FUD like this on projects i'm invested in for a number of reasons: 1) it isn't unusual to see people throw weak FUD around to get an entry 2) people FUD due to misunderstanding a project and i'm not here to babysit anyone 3) people FUD because they're just plain retarded
the Project89 FUD current flying around falls into category 3 (i.e. the fudder(s) is/are just plain retarded!)
i'll address it however since i have a lot of people DM'ing me to ask if the FUD has merit and if i'm worried
so here goes:
1. COMPLETELY BASELESS FUD. I'M IGNORING!
2. i'm not worried. if i'm one to get bothered by nonsense FUD like this, no one will be talking about 'bonk guy' today!
the fact that the Project89 token was launched by a random dev and not Parzival / @whyarethis who later took over the token and is the brainchild/main figure of the Project89 AI movement is a public fact
it is literally the subject of Parzival's pinned tweet with 380,000+ views: https://t.co/1kqElAR399
you can view the Project89 token as a random memecoin which Parzival CTO'd and made the key token of his movement (a win for memecoin communities and decentralization!)
CTOs aren't new in the crypto/memecoin world either
- WIF is a famous CTO in which the original dev sold the bottom and abandoned the project. a group of chads took over and made it a success, then the rogue dev came back and tried to kill the project. ofc he failed! WIF is above $3 billion market cap now!
- POPCAT is another famous CTO in which the rogue dev abandoned the project. POPCAT is above $1.4 billion now!
- BONGO is another CTO in which the rogue dev abandoned the project and tried to extort the CTO team. BONGO is doing well now and gaining prominence as one of the most promising cat memecoins to watch!
the fact that some random dev launched a token which he abandoned should have no bearing whatsoever on the perceived success or 'purity' of that token if a new, more legitimate dev/team takes over!
in fact, if WIF/POPCAT/BONGO is any indication i would say that this fact increases the likelihood of a project being more successful as it leads to better distribution/decentralization of the token while ensuring a cult community that will continue to rally behind it through difficult periods
a few things are worth highlighting:
1. Project89 dev Parzival is one of the most respected emerging voices in AI crypto right now. he is a doxxed person who has been (and continues to be!) interviewed by some of the most respected people in this space.
2. the godfather of AI, Marc Andreessen, follows both the Project89 token and its dev Parzival
in addition to the above, i'm starting to notice a few things that make me A LOT MORE bullish on Project89 than i was at the time of my first post about it
i had initially just chalked it up as a memecoin investment, but i'm starting to see more signs that this could end up being something very disruptive in this space
just yesterday Robert Scoble interviewed Project89 dev Parzival on X Spaces to discuss AI and the future: https://t.co/CpMYUW5PyT
for those who do not know Robert Scoble, he is one of the most respected voices in tech with a very storied career. he came into prominence about two decades ago when he became a technology evangelist at Microsoft, and he was so successful and widely regarded that The Economist (yes, the mainstream publication!) described his influence in the following way:
'He has become a minor celebrity among geeks worldwide, who read his blog religiously. Impressively, he has also succeeded where small armies of more conventional public-relations types have been failing abjectly for years: he has made Microsoft, with its history of monopolistic bullying, appear marginally but noticeably less evil to the outside world, and especially to the independent software developers that are his core audience'
Scoble has more of a storied career, but i do not want to make this about Scoble
my point is that you don't see a lot of crypto AI projects or founders being highlighted by people other than crypto anons
yet here you have one of the biggest voices in tech, the godfather of AI and one of the most successful VCs, and other respected voices acknowledging Project89 founder Parzival
i would not tell you what to buy and what not to
however, it is important to take attacks on serious project with a grain of salt in an industry rife with FUD where a lot of people are willing to resort to dishonest tactics to shake you out of your conviction holds so that they can get it for pennies on the dollar
Ansem is right
i think we're still relatively early to the AI meta
i believe AI has the potential to create the gratest amount of wealth this century
$NVDA became the world's most valuable company off the back of the AI narrative and is currently valued at $3.62 trillion, which is bigger than the entire crypto market cap
NVDA is also highly likely be the first company to hit a $5 trillion market cap
AI has created an insane amount of wealth in the past decade and would only continue to do so
and this is finally spilling over into crypto
this is not the time to bearish
the AI memecoin sector is literally just $4.8b market cap vs $85b for dog memecoins
the top 5 AI memes at the time of this tweet:
- $GOAT: $1.04b
- $TURBO: $555m
- $ACT: $492m
- #ZEREBRO: $482m
- #FARTCOIN: $426m
then we have bonk guy's AI pick:
- #Project89: at a measly $60m
these valuations are peanuts for an industry such as the AI memecoin industry
ofc i don't know which tokens would be in the top 5 in the next few months, but i'm confident that whichever projects are will each be multiples of the above valuations
AI has consistently had the highest mindshare of ALL crypto narratives this cycle... followed by memes
combined, AI & memecoins have a ~50% mindshare over the last 7 days
yet the AI memecoin sector is currently worth a MEASLY $4.8 billion market cap
by contrast, the dog memecoin sector is worth $85 billion
i believe the AI memecoin sector could be worth $50b - $100b later this cycle (that's 10 - 20x)
as a result, i will be betting big on the sector going forward
my first public AI memecoin pick is #Project89 for the following reasons:
- it has a very bullish chart that has mostly consolidated around the same range for weeks now and looks poised to break explosively to the upside any moment
- the project89 founder @whyarethis is followed and has been acknowledged by billionaire founder and investor Marc Andreessen (@pmarca)
the official @project_89 token X account is also followed by Andreessen
Andreessen funded Truth Terminal with $50k, and this funding pushed Truth Terminal mainstream and started the AI memecoin meta:
Andressen funded Truth Terminal with $50k, and this funding pushed Truth Terminal mainstream
subsequently, Truth Terminal embraced the $GOAT AI memecoin and a combination of the Terminal and Andreessen's interaction with the memecoin catalyzed its rally to $1 billion+ market cap and started the AI memecoin meta
- Andreessen's acknowledgement of another AI memecoin #AI16Z was one of the catalysts that fueled its recent rally to an ATH of $500m+
- Andreessen is literally the AI memecoin godfather (just as Elon is for dog coins/memecoins in general!): the project89 founder is one of the few AI memecoin guys that have been blessed by an acknowledgement and a follow from Marc Andreessen and project89 is one of very few AI memecoins he directly follows
from a pure 'memecoin' perspective, the above are strong enough reasons for me to be bullish on project89 on the back of the strong and rapidly growing AI mememcoin narrative
especially when it is sitting at $35 million market cap while more than half a dozen other AI memecoins have a market cap between $300m to $1b+
but if you want 'fundamentals' to geek over i recommend watching @notthreadguy's recent interview with project89 founder @whyarethis: https://t.co/ReGxor9xqD
$JUP breaking ATH right now
Soon you will see many people tweeting and crying why they sold at 50c or didn’t buy it
It’s the best DEX ever created UP only