News Article:
Title: The Rise of AI Agents in the Crypto Space
Excitement around artificial intelligence (AI) agents in the crypto space is reaching new heights.
While there has been idolization of individuals before, the idolization around AI is a fresh phenomenon.
The wide range of possibilities for AI to be integrated into blockchain is sparking imagination and bids. Let’s delve deeper into this here.
The AI Meme Coin Wave
The recent buzz largely stems from the Truth Terminal account. It started with Andy Ayrey’s Infinite Backrooms project, which launched earlier this year as an experiment in creating an AI chatroom.
In July 2024, Andy allowed AI to take control of the Truth Terminal Twitter account, which quickly spiraled into chaos. Making things even crazier, the AI embraced the bizarre “Goatse Gospel,” a meme involving self-destruction.
Marc Andreessen took notice of this account and donated $50,000 worth of BTC to the project. Then, in October, someone launched the $GOAT token on Pump.fun, receiving validation from AI and support from community members.
Subsequently, interest skyrocketed, and the market cap of $GOAT temporarily surpassed $500 million, making Truth Terminal a millionaire and sparking a new wave of AI-centered meme coins like $GNON and $LUNA.
Why This Matters
AI is now gaining followers in the crypto space, much like influential individuals.
Of course, the question of what these intelligences actually are and what they can and should do in society is still being grappled with. But make no mistake: AI-driven culturization and marketization, attracting investments, will persist.
That said, its impact extends far beyond meme coins, as the interest here suggests a growing realization of the broader potential of large language models (LLMs) around cryptocurrencies.
This interest, coupled with rapidly advancing technological resources, indicates that on-chain AI experiments are poised to flourish in various directions. A new golden age of crypto is accordingly beginning.
Three Things to Watch Out For
1) The Rise of Practical On-Chain Agents
Truth Terminal didn’t create $GOAT. Its Solana address was created by humans, and it doesn’t have direct control over its on-chain assets. These factors don’t change what makes the project interesting, but it would be even more interesting if it did have direct control here.
However, practical on-chain AI agents are indeed possible, and we’re seeing activity in this field.
For instance, in a recent Metaversal “Tool Tips” piece, I highlighted NANI, a chain-based agent operating system that lets you control your wallet on Ethereum, Arbitrum, or Base simply through chat.
You can certainly use such a system to create your own meme coin. But what about autonomous AI agents running on-chain, following instructions or acting on their own devices?
That’s precisely what the thinkers behind the parallel NFT trading card game Wayfinder are building. It’s a combination of protocol and platform that allows users to have AI agents they own automatically execute transactions like minting and swapping across multiple chains, including Ethereum and Solana.
Though still in development, Wayfinder is paving the way for a future where AI can directly and autonomously manage on-chain funds. This power will impact many things, from personal portfolio management to the economy of virtual worlds on-chain.
2) More DAO and Public Goods Experiments
Botto is an AI artist who, with its Botto DAO community, became one of the first (if not the first) AI millionaires in 2021 through its crypto art sales.
Unsurprisingly, as interest in $GOAT reenters the AI x crypto crossroads, with governance token prices surging 118% in the past week, many have turned their attention to $BOTTO.
Botto has shown that you can have an on-chain AI project that 1) has collective governance and 2) is more than just a narrative-driven game, as evidenced by its successful art creations.
So, just as interest in $BOTTO resurfaces, the hunt for more projects returning to Botto’s DAO governance structure serves as inspiration for new community experiments around AI agents in various directions, including both within and outside of the art realm.
Where there are communities, there are shared visions and goals.
An interesting question worth keeping an eye on for the future is the emergence of new AI-driven public goods.
Many in the crypto space support experiments in public goods, so expect to see more collectives coming together on-chain and using mechanisms like transaction splits to bring on-chain AI to the public’s benefit.
3) Advancements in Gaming and Virtual Reality
Onchain Gaias is creating a decentralized AI agent network that trains agents through games and stores them in users’ NFTs.
Then there’s the upcoming Parallel Colony game, which relies on the aforementioned Wayfinder system to power its AI characters, representing human players in the “game.”
These are just two notable examples of AI becoming more foundational in collaborative crypto gaming scenes. But what about competition with AI agents in the future?
Yes! Projects like Biomes, a virtual world, have already designed their gameplay in ways that AI competitors don’t have a natural advantage over humans. It’s a matter of game design where the rules keep AI as a facilitator of fun rather than a killer.
Looking ahead, as AI’s role expands in gaming and virtual world environments, expect to see more possibilities for collaboration and competition at this intersection.
