In 2023, AI Coin (AI) emerged amidst the global artificial intelligence technology boom. The project team touted "Blockchain + AI" as a gimmick, claiming to create a decentralized intelligent computing power platform. They aimed to raise funds through tokens to facilitate technology implementation, attracting a large number of retail investors chasing trends.
The project has no substantial technological research and development achievements, and the white paper is hollow with multiple instances of plagiarism from other AI projects. It lacks the core code for building a computing power network and has not established partnerships with any artificial intelligence companies. The project team capitalized on the market's enthusiasm for AI concepts, promoting it extensively through social media and cryptocurrency communities, deliberately creating an illusion of token scarcity to induce investors to buy at high prices.
After the token price was pushed to a peak, the project team quickly sold off a large amount of their holdings to cash out, subsequently deleting community accounts and shutting down their official website, leaving behind a mess. The price of AI Coin, lacking value support, plummeted by over 99%, ultimately going to zero. Countless retail investors lost their investments, making it a typical case of a "hype-driven" air coin that exploited inexperienced investors.
