Integration of Web3 and AI Agents: New Trends and Project Analysis

As the crypto market continues to grow in the first half of 2024, the total market capitalization has increased by 37.3%. Among the major narratives, Memecoins, AI, and RWAs have performed the strongest. In particular, AI-related projects have shown performance just behind Memecoins.

The combination of Web3 and AI has become the focus of attention for major venture capitalists this year. Many Web3 projects have also started to introduce AI Agents, the latest trend in the traditional AI field. At the recent ETHCC conference, numerous Web3 developers and top venture capitalists focused their attention on the narrative of AI Agents.

Overview of AI Agent

AI Agent is a type of "agent" based on large language models that can autonomously perceive, think, decide, and execute. Its main difference from traditional chatbots is that:

• Chatbots are primarily used for human-computer interaction, while AI Agents aim to autonomously complete tasks.
• The AI Agent has the ability to act autonomously; it can complete tasks automatically as long as a goal is provided.

For example, an intelligent AI Agent can automatically analyze the condition based on the user's physical condition, generate a leave request, and even order the necessary medication.

The Integration of Web3 and AI Agents

The value that Web3 brings to AI Agents:

1. Enhance resistance to censorship
2. Achieve decentralization and ownership
3. Support monetization and new financing models
4. Enhanced Composability

The value that AI Agent brings to Web3:

1. Simplify on-chain information retrieval and aggregation
2. Improve user interaction experience and achieve large-scale adoption.
3. Automated on-chain operations, such as trading and airdrop participation

Currently, Web3 x AI Agent projects can be divided into two categories:

1. On-chain Conversational AI Agent: Focused on Web3 knowledge learning and on-chain research, not involving on-chain operations.
2. On-chain Interactive AI Agent: A smart agent capable of performing on-chain operations.

Typical Project Analysis

Spectral

Spectral has transformed from an Ethereum credit scoring protocol into a machine intelligence network, allowing users to build on-chain AI Agents.

Main products:

• Spectral Syntax: Officially developed collection of Agents
• Spectral Nova: Decentralized Machine Learning Inference Platform
• Agent Wallets: Encrypted wallets integrated with AI Agent
• Inferchain: A Layer 1 centered around AI Agents

Development History:

• Completed financing in 2021-2022
• Syntax will be launched in March 2024, marking a formal transformation.
• Token issuance and airdrop in May 2024
• Collaborating with Turnkey in June 2024, planning to launch Agent Wallet in Q3

Token Economy:

• $SPEC is used for payment, governance, and staking.
• Circulating market cap of 85 million USD, FDV of 800 million USD
• Investors will start unlocking in May 2025, and attention must be paid to the selling risk.

User Data:

• Registered users 65,362
• Generate contract 1,055,568
• An average of 25 interactions per user

GaiaNet

GaiaNet is a distributed AI infrastructure aimed at becoming a decentralized AI Agent ecosystem.

Core Components:

• GaiaNet Node: Software stack for rapid deployment of AI Agents
• GaiaNet Domain: A collection of nodes in a specific domain
• GaiaNet DAO: Token Staking and Revenue Distribution Mechanism

Main Value:

• Lower the deployment threshold for Agents
• Supports various open-source LLMs and models
• Generate a collection of professional knowledge AI agents for various industries.

Financing situation: In May 2024, completed a $10 million seed round financing, with investors including Mantle Network, ByteTrade, and others.

Current progress:

• 35 available conversational AI Agents
• Total number of nodes 18,594

Other Early Projects

• Zotto: Users can create AI Agents to realize trading intentions.
• AgentLayer: AI Agent Layer2 based on OP Stack
• Olas Network: Off-chain AI Agent ecosystem
• Theoriq: Modular and Composable AI Agent Base Layer
• AgentCoin: Universal Web3 AI Agent
• Giza: Web3 AI Agent framework, supports ZKML