What happened to Moemate?
Moemate was an AI companion platform from Webaverse. Launched in October 2023, it claimed six million users, launched the MATES token on Solana in January 2025, and discontinued the app about four weeks later. The website is gone. The token still trades, 99 percent below its sale price.
What Moemate was
Moemate came out of Webaverse, an open-source metaverse startup founded by Ahad Shams and Chris Larkin. Webaverse raised venture money in 2021 and drew the wrong kind of headlines in early 2023, when Shams disclosed that scammers had stolen roughly $4 million raised for the project after a hotel-lobby meeting in Rome, a case reported by Cointelegraph. As metaverse demand cooled, the team moved toward AI. Moemate launched in October 2023 as the company's flagship product.
The product was an AI character studio. Users built custom companions with their own personalities, voices and art, then talked to them by text or voice. The marquee feature was screen awareness: a desktop companion that could see what you were doing and comment on it in real time. Voice cloning, image generation, persistent memory across conversations and support for more than 100 languages rounded out the set. Under the hood, the app called frontier models over API, a cost structure that mattered later.
The scale figures were always the team's own. The token launch materials claimed more than six million users, over 500,000 community-created agents and 30 plus minutes of average daily engagement. Independent signals ran smaller: the crypto research desk Chain of Thought measured about 1.5 million monthly site visits and 7 plus minutes of daily use in January 2025. Both versions describe a real audience in the same market as Character.AI and Replika. Neither is an audited number, and this page treats them accordingly.
MATES: four weeks from launch to orphan
In late 2024, Moemate pivoted to crypto: an AI-agent platform where creators would launch agents and agent tokens, with MATES as the ecosystem token. The token outlived the product.
Moemate ran an IDO on PAID Network's launchpad on January 10 and 11, 2025, selling about 130.7 million MATES at $0.00153 and raising roughly $200,000, per CryptoRank's sale record. Against a 19.5 billion total supply, the sale price implied a fully diluted value near $30 million.
MATES went live on Solana on January 14, 2025. The first Raydium pools were created that day, which is verifiable on chain, and the launch press release claimed a community of six million users on day one.
The token printed its high within days: $0.01269 by CryptoRank's record, about eight times the sale price, implying a fully diluted value near $250 million at the top of January's AI-agent wave.
Weeks after the launch, the companion app was discontinued. As of July 3, 2026, MATES trades near $0.0000108, with about $210,000 of fully diluted value and roughly $40,000 of pooled liquidity on Raydium and Orca. That is 99.3 percent below the IDO price and more than 99.9 percent below the peak.
Chain: Solana. Contract: MAtesZXcU38mgPuteRFo9ApCauYRRuwn3xf1cs5y7ZX. Total supply: 19.5 billion. Price: about $0.0000108. Fully diluted value: about $210,000. Pooled liquidity: about $40,000 across Raydium and Orca. Daily volume: a few hundred dollars.
Sources: DexScreener and GeckoTerminal pool data, CryptoRank sale record. The token trades, but at this liquidity a small order moves the price. That is an observation about market depth, not advice in either direction.
The timeline, from the public record
Most pages about Moemate cite each other. This timeline is anchored to things anyone can re-check: archive captures, on-chain data and dated press coverage.
Pre-history: Webaverse co-founder Ahad Shams goes public about the $4 million theft, describing a staged wallet inspection in a Rome hotel lobby. The company survives it and keeps building.
Webaverse launches Moemate, pitched as an AI studio for immersive, interactive characters. Distribution grows through app stores, aggregators and the broader AI-companion wave of 2024.
Unitypad logs a $5,100 position in Moemate on its public investment record, about two months before the token sale.
The MATES IDO runs on PAID Network's launchpad: roughly $200,000 raised at $0.00153 per token.
MATES launches on Solana. Raydium pool creation timestamps match the announced date. The price peaks days later at $0.01269, then bleeds as the January 2025 AI-agent trade unwinds across the market.
Last archived capture of the app era: the Wayback Machine stores a working moemate.io on this date.
Reported shutdown. Third-party coverage places the discontinuation notice here, with refunds limited to recent payments. No first-party copy of the announcement survives at a public URL, so this page dates it as reported, not confirmed.
The archived moemate.io now serves a waitlist page for Aether Forge, a planned decentralized AI app store, still signed Webaverse Inc.
Captures show a Moemate Exporter sign-in page: an official tool for retrieving user data. It contradicts the flat claim, repeated across the web, that all user data was lost with no recovery option.
Our checks for this page: moemate.io and moemate.com no longer resolve, moemate.ai returns a server error, and the documentation still sits on GitBook. Archive captures of the homepage stop in May 2025. MATES still trades in small pools.
Read the search results with gloves on
Moemate's search results are a case study in what happens to a dead brand's name. Each of these problems was verified on July 3, 2026.
As this page is written, the top-ranking site for this query is moemate.chat, which presents itself as Moemate. It names no company, no team and no imprint, and its sign-up buttons route to CrushOn.AI, an unrelated companion product. It is an affiliate funnel wearing a dead brand's name.
Below it sit anonymous, machine-written shutdown-and-alternatives posts that cite one another. Several state the domain vanished in late January 2025 and that no data recovery ever existed. Archive captures show the site alive on February 1 and an official exporter running into May.
Six million users and 500,000 agents come from the project's own launch materials. No audit, no retention data and no revenue figures were ever published. A page that repeats those numbers without attribution is copying a press release.
The exact shutdown date, the refund terms and what became of Aether Forge. Where this page states a reported fact, it labels it as reported. Where it states a checked fact, the check is dated.
None of this is unusual for a failed consumer app with a token attached. It is the reason project pages on this site carry dates, sources and a disclosure block. The same standard applies to positions that went the other way; the Erebor Bank page covers the far end of the outcome range.
Where Unitypad stands
Moemate is one of the 64 positions logged in the Unitypad portfolio. The entry is on the public record: $5,100, logged November 7, 2024, about two months before the token launch. The record marks the position at $5,347; given where MATES trades today, read that mark as historical, not current.
The position stays logged by name because a track record only means something if the failures remain on it. This page is an explainer, not advice, and not a solicitation of anything. Members enter seed and private rounds on their own judgment; nothing about Moemate changes how that works.
Moemate questions, answered
Is Moemate still working in 2026?
No. The Moemate companion app was discontinued in February 2025. As of July 3, 2026, moemate.io and moemate.com no longer resolve, and no successor app has launched publicly. Only the project's documentation remains online, hosted on GitBook.
Does Moemate have a crypto token?
Yes. MATES launched on Solana on January 14, 2025, with a 19.5 billion total supply. As of July 2026 it still trades in small Raydium and Orca pools at about 99.3 percent below its January 2025 IDO price, with roughly $210,000 of fully diluted value.
Is moemate.chat the official Moemate site?
No. moemate.chat is not connected to Webaverse or the original product. It lists no company information, and its sign-up links route to a different AI companion service. The original domains were moemate.io and docs.moemate.io.
Who built Moemate?
Webaverse Inc, the open-source metaverse startup founded by Ahad Shams and Chris Larkin. Webaverse pivoted to AI and launched Moemate in October 2023. The copyright notice on the site's final archived pages in 2025 still read Webaverse Inc.
Why did Moemate shut down?
No first-party post-mortem was ever published. Third-party coverage points to model and GPU costs outrunning subscription revenue, with payment-processor friction as a secondary factor. Treat the specific figures in those accounts as unverified; the team itself never published any.
Could Moemate users recover their data?
Partly, for a window. Archive captures from April and May 2025 show an official Moemate Exporter sign-in page for retrieving user data. The domain later lapsed, and as of July 2026 there is no official recovery channel.
Sixty-four positions.
Failures included.
Every position the club community has taken is logged by name, Moemate included. The record is one page, it is public, and it does not hide the losers.