November 29, 2024
AI Agents are having a "field" day. Everyone loves Andy.
GM!
It’s been a week, and everyone is still talking about AI agents—a good sign that this might not just be a passing trend but the start of something lasting.
Truth Terminal continues to dominate the conversation. Its creator, Andy Ayrey, has promised to release a full project history and technical breakdown from March to now. Keep an eye out for that—it’s bound to be fascinating.
Now you can even chat with the infinite backrooms model using the simulator Andy has set up.
The man of the moment: Andy Ayrey. (Source: Blocmates)
And let’s take a moment to appreciate Andy’s impeccable moustache and beard. Truly a man of culture. As he says:
“You don’t have your memes, your memes have you.”
In this edition of our weekly AI Edge, we cover:
The Crypto AI sector market cap dipped 1.8% this week, largely dragged down by the heavyweights. Bittensor (TAO), for example, fell 8.7% to $530.
However, it’s a completely different story for the low-cap tokens, many of which are having an absolute field day on the AI agents narrative.
VIRTUAL stole the show, surging 146% over the past seven days, fueled by its role as the pump.fun playground for AI influencers. We flagged VIRTUAL in last week’s newsletter—so congrats to those who hopped on board before the rally.
Meanwhile, GOAT continues to go viral. Even Brian Armstrong is on it, offering to help Truth Terminal create its own dedicated crypto wallet on Coinbase. If you haven’t checked it out yet, we published a deep dive on GOAT earlier this week—it’s worth a read.
SPEC and OLAS are also catching the AI agent buzz, climbing 28% and 21% respectively over the week.
Top 5 Losers (7D Change) in our Crypto AI token watchlist
SNS (-34%)
ENQAI (-31%)
COMAI (-20%)
PRIME (-18%)
NMT (-16%)
Source: Dune, @incyd_
Theoriq is building a modular, composable base layer for on-chain AI agents. It launched its testnet two weeks ago, and the early user metrics have been impressive.
Over the past week, 15,000–20,000 daily active users have been interacting with AI agents on the testnet. However, keep in mind that these numbers are incentivized—users earn points for taking actions.
There are 14 AI agents that you can interact with, including an investment planner (where you can ask it about specific tokens), an Eigenlayer agent and a crypto strategy game.
One that I found was pretty cool is the “Forecasting agent”. For example, it currently gives a “45% chance of Donald Trump winning the 2024 US presidential election.”, while outlining the key factors behind the forecast.
Fundraising
Upcoming Launches
Project Updates
Bittensor
A wave of exciting research from VCs in the space has dropped this week, so I’ve compiled the best of it here for your easy reference
Excited to announce the full Delphi Digital DeAI Series is now unlocked. This series spans four reports, 36,500 words, and 158 graphics.
I'm biased, but believe it to be the most comprehensive assessment of the space to date. A space likely to define crypto markets for the… x.com/i/web/status/1…
— Pondering Durian 🙏 (@PonderingDurian)
11:52 PM • Oct 23, 2024
AI people starting to take crypto seriously.
an immediate impact of @truth_terminal is that some sf ai ppl who were previously dismissive of crypto r starting to take crypto seriously again
"how will autonomous ai agents make payments or even more complex financial txs?"
"well they gotta use crypto"
— qw (@QwQiao)
3:50 PM • Oct 23, 2024
Marc Andreessen talks about GOAT and Crypto AI for 30 minutes
The amazing, wild, innovative, bananas, 100% true (I think), story of the world's first legitimately fun AI, @truth_terminal, plus the current+future convergence of AI and crypto! 🤖🚀🌚
0:25 - Introduction
1:56 - Three disclaimers
4:07 - Origin of Truth Terminal
11:50 - Two… x.com/i/web/status/1…
— Marc Andreessen 🇺🇸 (@pmarca)
6:36 PM • Oct 22, 2024
TAO’s virtuous cycle
Been thinking about $TAO's virtuous cycle:
network value drives network effects.
— anand iyer (@ai)
7:44 PM • Oct 18, 2024
Goody Alexander muses on AI Memecoins
Organizing thoughts:
What are AI meme coins
If normal meme coins are the flu, then AI meme coins are Covid 19. They are lab produced, and therefore innately optimized for vitality without the requirement of mutating in the general population.
This lab production is made… x.com/i/web/status/1…
— goodalexander (@goodalexander)
4:16 PM • Oct 19, 2024
The real supercycle is in AI
we are entering AI supercycle
— Sandra (@sandraaleow)
4:40 AM • Oct 24, 2024
Knower compiles a list of great resources on AI alignment
Think we get some new AI coins tomorrow and coming week, but today is for studying the literature
I'll drop some basic starter stuff in the replies to get the crypto community up to speed on alignment-related research and other info to get your head right
— knower (@knowerofmarkets)
10:03 PM • Oct 19, 2024
Where does value accrue to in Crypto AI?
On Crypto x AI Value Accrual, AI Memecoins, and The Future 🤖
The Fat protocol thesis is reversed with Crypto x AI.
Memecoins, the simplest form of apps, are accruing value (attention) since it's easy to fine tune an open source model like Llama and add a token.
GOAT did this… x.com/i/web/status/1…
— Tommy (@Shaughnessy119)
9:29 PM • Oct 19, 2024
That’s it for this week! If you have specific feedback or anything interesting you’d like to share, please just reply to this email. We read everything.
Cheers,
Teng Yan
This newsletter is intended solely for educational purposes and does not constitute financial advice. It is not an endorsement to buy or sell assets or make financial decisions. Always conduct your own research and exercise caution when making investments.
