Top VCs discuss Crypto+AI investment methodology: Which teams are worth investing in?

Chainfeeds Digest:

This article is the third installment of the "Crypto Evolution" column by OKX, co-hosted by OKX Ventures, Polychain, and Delphi Digital, focusing on the "Convergence of AI and Crypto".

Source:

https://mp.weixin.qq.com/s/MNHlFblrPXfDqZGmpuLLhA

Author:

Wu Blockchain

Viewpoints:

Polychain: The AI field is transitioning from closed-source models to more complex open-source solutions. While this democratizes access to AI capabilities, it also brings new challenges, particularly in terms of value capture for model creators. The financialization of open-source models is an innovative area where crypto and AI intersect. The convergence of crypto and AI also drives innovations in public governance and system transparency. A promising direction is the emergence of AI agents and executable task systems, which can serve as extensions of individuals, automating complex tasks from personalized assistants to advanced automation in decentralized finance. However, their realization depends on data privacy protection, verifiable computing systems, and seamless integration of infrastructure.

OKX Ventures: The Crypto+AI sector is currently transitioning from hype to substance. The market will shift from speculation-driven to demand-driven, with a focus on actual usage and adoption rather than potential value. Based on these trends, we have abstracted the corresponding investment logic, with three core points: 1. Market demand-oriented: First, assess the market size and growth potential of the project's Crypto & AI sector, as well as the competitive landscape. Second, consider what problem the project solves and what needs it meets, even if it's a very small point, as long as it addresses a market pain point. 2. Not just storytelling: Realistic business scenarios and business models are particularly important. Startup teams need to have a clear business model and understand their revenue sources, rather than relying solely on storytelling to attract market attention. 3. Teams need AI background: AI has a high technical barrier, especially when combining Crypto and AI, requiring deep knowledge of both fields to effectively integrate the two, or else it will be difficult to gain market recognition.

Delphi Digital: Software is eating the world, and AI is eating software. The essence of AI is data and computation, so whoever can most effectively acquire these two key inputs (infrastructure), coordinate them (middleware), or leverage them to meet user needs (applications) will capture immense value. At the infrastructure layer, DeAI relies on data and computation, especially through crypto incentive mechanisms to efficiently acquire these resources; at the middleware layer, DeAI aims to achieve efficient composable computation, similar to the "Lego" model of DeFi; at the application layer, on-chain agent protocols may be the key to improving the user experience in the crypto space. While the current DeAI narrative may be overly optimistic, the scale of the opportunity is massive. The true vision of DeAI's composable computation may even prove the inherent value of blockchain itself.