Crypto AI Narrative Collapses as ai16z Token Goes to Zero
The ai16z project has been shut down, and its token has gone to zero. The founder, Shaw Walters, stated that he still holds a $25 million position in the tokens, which have not been sold. This comes after the collapse of the crypto AI narrative.
Walters, also the founder of Eliza OS, published a long article announcing the death of ai16z, saying the foundation has closed and there will be no buybacks. He advised holders to either sell their tokens or find someone to pump them up, but made it clear he would not do anything more.
The tone of Walters' announcement was described as 'slamming the door in disappointment after cursing everyone out.' He also referred to the crypto community as 'a bunch of spoiled crybabies,' and mentioned that a law firm is suing him on behalf of token holders. The Eliza OS foundation lacks the funds to fight the lawsuit, having spent all its remaining money.
Walters reflected on his experience with ai16z, stating that he had an idealistic vision for developing in a murky market but was ultimately left with 'a heart full of ruin, disappointment, and anger.'