IMD, an AI-themed token on the Ethereum mainnet, briefly pushed its market capitalization above $39 million on Sept. 26, setting a new all-time high, according to GMGN data cited by BlockBeats. The token later pulled back to a market cap of $31 million, while its 24-hour trading volume stood at $2.1 million.
BlockBeats described IMD as a legacy Ethereum mainnet token that has shifted away from its earlier chain-game pet token identity into what it calls an experimental model built around community-supplied computing power, AI labor, and token deflation. The project traces its earlier form to Fren Pet, a digital pet game launched on Base in 2023. It later became VIBE, before changing again to IMD in May 2026.
The token’s current narrative centers on building an "AI cooperative." Users who hold eligible NFTs can connect their own computers and Claude or Codex quotas to the network, allowing AI agents to work together on tasks such as writing code, reviewing contracts, and building applications. Rewards are then distributed after projects are completed. IMD also uses a POOL4 mechanism, in which part of the token used in trades is set aside, with most of it burned and the remainder allocated to stakers and nodes. BlockBeats warned that the token is highly volatile and that investors should be cautious.
IMD, an AI-themed token on the Ethereum mainnet, briefly saw its market capitalization rise above $39 million on Sept. 26, setting a fresh all-time high, according to GMGN data cited by BlockBeats. The token later fell back to a market cap of $31 million. Its 24-hour trading volume was $2.1 million.
A legacy token that changed direction
BlockBeats said IMD is an older token on Ethereum mainnet that has shifted from a chain-game pet token into an experimental project built around community-provided computing power, AI work, and token deflation.
The project’s earlier form was Fren Pet, a digital pet game launched on Base in 2023. It was later renamed VIBE, and then changed again to IMD in May 2026.
Current focus is an "AI cooperative"
Under the project’s current narrative, users holding eligible NFTs can connect their own computers and Claude or Codex quotas to the network. That setup allows AI agents to collaborate on coding, contract review, and application development, with rewards distributed after the work is completed.
On tokenomics, IMD uses a POOL4 mechanism in which part of the IMD involved in trades is set aside. Most of that amount is burned, while the rest is distributed to stakers and nodes.
BlockBeats also pointed readers to a related article titled "From raising digital pets to raising AI employees: What does IMD want to do?"
BlockBeats warned that the token is highly volatile and said investors should be cautious.
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