ElizaOS founder Shaw said on Aug. 5 that the ai16z token is "completely dead" and that the related foundation is being wound down. He said there is no money left for token buybacks and that no new funding or token supply will be used to support the market. Shaw also said he no longer holds any related tokens and will not support the launch of an Eliza token in the future.
He added that Burwick had previously sued the project. According to Shaw, the team lacked the funds to mount a legal defense, reached settlements with some holders, and handed over the remaining treasury and funds. Shaw said he never sold ai16z and did not profit from the project beyond a salary comparable to other engineers.
Despite the shutdown around the token and foundation, Shaw said the team will keep building Eliza and its underlying operating system. He said the project plans to restart without pressure tied to tokens, launchpads, or community price expectations. Shaw added that Eliza-related intellectual property remains under his control and that future work will focus on localized, privacy-preserving agent technology with crypto support. He also said he still believes in blockchain technology, while taking a pessimistic view of a crypto culture he described as overly centered on speculation, prediction markets, and meme coins.
ElizaOS founder Shaw said on Aug. 5 that the ai16z token is "completely dead" and that the related foundation is gradually ending operations.
Shaw said there is currently no funding left for token buybacks, and there will be no new capital or token supply used to support the market. He added that he no longer holds any related tokens and will not support the launch of an Eliza token in the future.
He also said Burwick had previously filed a lawsuit against the project. According to Shaw, the team did not have enough money to fund a legal defense, eventually reached settlements with some holders, and handed over the remaining treasury and funds.
Shaw said he never sold ai16z and did not profit from the project apart from a salary comparable to that of other engineers. He added that the team will continue to develop Eliza and its underlying operating system, with plans to start again without pressure from tokens, launchpads, or community price expectations.
He said the intellectual property related to Eliza remains under his control. Going forward, the focus will be on localized, privacy-preserving agent technology with crypto support. Shaw also said he still recognizes the value of blockchain technology, but is pessimistic about what he described as a crypto industry culture overly focused on speculation, prediction markets, and meme coins. In contrast, he said the AI community is more focused on building products.
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