On November 8th, 0x499 hosted a Twitter Space live event themed “Memecoins in the Age of AI”. The session featured a roundtable discussion with three esteemed guests: Amit Mehra, Partner at BORDΞRLΞSS Capital; Shu, Founder of MIZU; and Jamie ElKaleh, Marketing Director of Bitget Wallet. Here are some highlights from the live event.

Moderator: Hello, everyone! Welcome to the 499 Twitter Space for DIA Day. Today, we’re discussing how AI intersects with Web3, focusing on meme coins and digital trust. We’re joined by our distinguished guests, Amit Mehra, Shu, and Jamie ElKaleh.

Moderator: Meme coins have become very popular recently. How would each of you define meme coins, and what role have they played in the cryptocurrency landscape over recent years?

Shu: Thanks for having me here. To me, meme coins are a unique type of cryptocurrency that detaches the traditional value assigned to currency. They’re really driven by community demand and supply, making them less utility-focused and more of a community-driven demand game. Since they’re so easy to create, it’s all about building community hype, which influences price fluctuations in the market.

Jamie ElKaleh: I agree with Shu. There are three main reasons people trade meme coins: financial gain, social connection, and sometimes even education. People often enter the space through meme coins, attracted by community dynamics or just wanting to be part of something fun and novel.

Amit Mehra: Absolutely. We’re seeing how AI-based meme coins, such as Goat, have skyrocketed, drawing retail traffic on platforms like Solana. These trends show meme coins’ potential to drive larger altcoin cycles, particularly as they attract new audiences to the crypto world.

Moderator: Great insights! Now, let’s discuss how AI has impacted meme coin creation, promotion, and volatility. Jamie, could you start?

Jamie ElKaleh: Certainly. AI is everywhere in the meme coin space. People use it to create projects, from generating memes to drafting full white papers in minutes. While this efficiency is beneficial, there’s also concern. AI makes it easier to create convincing projects quickly, potentially leading to misuse. It’s important to use AI thoughtfully, considering both financial and social impacts.

Moderator: Good point, Jamie. Shu, could you expand on how AI supports community building for meme coins?

Shu: AI helps streamline content creation and community engagement, like through Twitter bots that simulate popular voices or even talk with followers. AI even allows creators to generate audio-based bots to give their coin a unique personality, making community interactions dynamic and engaging.

Moderator: That’s fascinating! Moving forward, do you think AI could play a role in regulating meme coins? And if so, how?

Amit Mehra: Yes, regulation is essential, especially as AI can be used to assess sentiment and trends, often allowing early movers to profit. However, there’s a fine line between monitoring sentiment fairly and exploiting it, so AI-driven regulation could be helpful in ensuring fair play.

Jamie ElKaleh: I’d add that regulatory frameworks will vary by region, as we’re already seeing in Europe and Dubai. AI’s ability to quickly gather insights could make it easier for regulatory bodies to make informed decisions and maintain market integrity.

Moderator: Very insightful. As we wrap up, what do you think the future holds for AI and meme coins?

Amit Mehra: I see meme coins evolving into a more AI-driven ecosystem, especially as these technologies allow faster trading and sentiment analysis. This makes them appealing to communities and investors alike, but we need to ensure that AI-driven trends and tools are used responsibly.

Jamie ElKaleh: Agreed. AI brings both efficiency and risks to the meme coin landscape, which means communities must stay informed and cautious. While there’s a lot of potential, AI’s role should always align with fair market practices.

Moderator: Thank you, everyone, for such an insightful discussion on AI and meme coins. I hope our audience found this session valuable. Let’s continue exploring the impacts of AI on decentralized communities.

Moderator: Thanks again, Amit Mehra, Shu, and Jamie ElKaleh, for sharing your expertise.