KEYTAKEAWAYS
- $ACT evolved from a founder-led project to a fully community-driven initiative focused on advancing AI knowledge and education.
- Following the Binance listing, $ACT saw a rapid price increase, highlighting its community’s resilience and potential influence in the crypto market.
- Despite short-term gains, $ACT’s future hinges on building a sustainable AI knowledge-sharing community to support long-term growth.
CONTENT
$ACT is a decentralized AI-driven community that emerged from a founder’s exit, empowering members to govern and support AI knowledge. Its Binance listing boosted $ACT’s value, though long-term stability remains a question.
WHAT IS $ACT?
$ACT stands for “AI Community Token,” representing a story of resilience, unity, and growth, dedicated to connecting the cryptocurrency community.
The primary goal of the $ACT project is to establish a decentralized community focused on advancing AI research, education, and collaboration.
Through $ACT, enthusiasts, developers, innovators, and community members come together to promote AI knowledge, making AI more accessible and empowering people to understand and engage with this transformative technology.
▶ Official X: https://x.com/amplifiedamp
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Key Components of the $ACT Ecosystem
➤ Education & Awareness: $ACT is dedicated to helping people understand the potential and risks of AI, ensuring widespread knowledge and awareness.
➤ Decentralized Community: Following Amp’s departure, $ACT has become a fully community-driven project, with all decisions made collaboratively by community members. Anyone can join the $ACT community, engage in the crypto and AI ecosystem, and support educational efforts.
➤ AI Project Support: Through Act I and other initiatives, $ACT backs AI development efforts, promoting innovation and creating learning opportunities.
>>> More to read: $PNUT: Memecoin Born By Social Buzz & Political Influence
$ACT | ACT I PROJECT
$ACT is a cryptocurrency associated with the Act I project, an experimental platform hosted on the Cyborgism server and based on Discord.
According to the project’s website, Act I enables users and advanced AI chatbots to interact within a dynamic environment, facilitating unique exchanges and collaborative interactions.
This platform supports a range of activities, from simple tasks to complex interactions, challenging traditional notions of AI, which often prioritize utility, safety, and honesty.
“These are ideals worth pursuing, but they also come with a creative—and possibly intellectual—cost,” the website states.
Users can interact with chatbots by mentioning them or directly replying to their messages.
Multiple bots can join the same conversation thread; while each bot’s memory is limited to its specific channel, they maintain a cohesive flow of discussion.
Users can also create separate threads to hide bot messages, or use simple commands to continue or restart conversations. Some bots, like Clodus, can even interpret images, while others engage creatively in discussions about visual effects.
The platform encourages creativity. According to the website, users are invited to experiment with different text styles, non-English languages, and even glitch effects to make conversations more engaging and inspire the bots to think outside the box.
>>> More to read: AI Agents in Crypto 2024: Market Analysis Report
$ACT: CRISIS & TURNING POINT
The founding team of $ACT was highly capable, with DEV, the founder, being a member of the GOAT token team, AmplifiedAmp (Amp). At launch, $ACT received 6% of the token supply as initial funding.
However, instead of taking off as the community had hoped, $ACT faced a sudden blow when the founder, Amp, began a large-scale sell-off.
Holding a substantial amount of $ACT tokens, Amp’s frequent sales dragged the token’s price down, sparking outrage among the community, who accused him of “blatantly exploiting investors.”
Under pressure, Amp finally announced his departure, burning his remaining 1,745,004 $ACT—worth a modest $41,000 at the time but skyrocketing to $3.87 million in value today, effectively setting future profits ablaze.
On his way out, Amp left a final statement, coldly declaring that $ACT as a brand never had his endorsement, even tweeting that he didn’t want to see it listed on Binance—a parting shot described as a “work of exit art.”
Ironically, Amp’s exit didn’t fracture the community but instead led $ACT towards decentralized governance.
Without a founder’s influence, the community united, establishing a decentralized organization dedicated to AI education and community outreach.
This shift transformed $ACT into a decentralized “grassroots AI outreach initiative.” Later, with Binance’s support, $ACT made a dramatic comeback.
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Binance Announces $ACT Listing, Prices Pump
After Binance announced the listing of $ACT, the price surged tenfold in just 10 minutes, with its initial market cap climbing from $20 million to $350 million.
This incredible increase was largely driven by Binance’s global influence as a top-tier exchange and the strong sentiment surrounding meme coins.
However, this rapid surge also exposed risks. For $ACT’s long-term growth, the key lies in building a genuinely valuable AI knowledge-sharing community.
While the short-term price jump attracted many speculators, whether $ACT’s governance model and community consensus can support sustained price stability remains uncertain.
#Binance will list Act I : The AI Prophecy $ACT and Peanut the Squirrel $PNUT with Seed Tag Applied.
Read more 👉 https://t.co/CmJRyTaS8I pic.twitter.com/1XHISDTOY9
— Binance (@binance) November 11, 2024
$ACT FUTURE
With Amp’s departure, the $ACT community is no longer under centralized control. This “betrayal” unexpectedly turned into an advantage, granting the community full autonomy and providing millions in funding for Act I.
Community members have embraced this fresh start, expressing pride in their newfound independence and resilience.
Today, $ACT is more than just a token or project; it represents the strength, education, and shared vision of its community.
Free from Amp’s influence, the community is united in advancing AI knowledge and is committed to making a positive impact on the future of technology. $ACT embodies a decentralized, AI-driven crypto community owned, governed, and inspired by its members.
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