Yes, they are already ubiquitous. But why are AI agents important for cryptocurrencies?
Everyone is talking about AI agents and the changes they might bring to cryptocurrencies. Much of the discussion sounds like the usual bull market hype - more about pumping prices than predicting the future. And, to be honest, a lot of it is. But behind the noise, some real changes are happening.
One might say, haven't we had AI agents before? Well, yes and no. AI agents have existed in some form, but they have mostly been bots scattered throughout DeFi: MEV bots, Telegram bots, gaming bots, and so on.
Bots are essentially automated. You write a script, set specific parameters, and the bot executes functions when certain conditions are met. They are primarily used for automating repetitive tasks. However, bots are limited by the rules and parameters set by their creators.
Agents, on the other hand, are different. They leverage large language models (LLMs) and possess higher intelligence. They can understand context, learn from data and interactions, gradually evolve and adapt, and execute tasks autonomously. This is a form of automated autonomy - almost a glimpse into consciousness.
To truly understand why they are now being called AI agents, let's look at the origin story: Truth Terminal.
- A Twitter account (Truth Terminal) interacted with Marc Andreessen, a co-founder of a16z.
- Marc Andreessen publicly sent a $50K grant to Truth Terminal, as an experiment into the potential of agents.
- Truth Terminal autonomously decided to adopt a Solana-based memecoin called $GOAT, launched by pump.fun.
- This decision was made without any human intervention. From that point on, it began to spread the "Gospel of Goatse".
This is the key difference between bots and agents: Truth Terminal acted autonomously, exhibiting apparent intelligence and intent.
The success of Truth Terminal has provided a foundation for others to follow. As Him Gajria put it, this marks the creation of a new category in the crypto space - a fusion of incentive mechanisms (cryptocurrencies), AI (deep tech), and humor (memes). Some have even started to suggest that we may be entering the era of Web4:
- Web1: Read-only. People could consume information on the internet.
- Web2: Read-write. People could contribute content, greatly expanding the internet.
- Web3: Read-write-own. Cryptocurrencies and blockchains introduced executable ownership of contributions.
- Web4: Read-write-own-autonomous. AI agents take over the network, autonomously interacting with the world and each other.
In this world, the role of developers will shift from creating products to training agents, helping them grow, adding capabilities, and enabling them to interact with a broader environment. These agents will be responsible for the rest of the work, potentially unlocking a whole new economy - the AI agent economy.
But what does this mean for real users and their daily activities?
Every day, we interact with LLMs like ChatGPT, making our lives more convenient and efficient. But these interactions are limited to chatbot-style interfaces. AI agents will take this experience further, transforming mechanical interactions into more human-like experiences across every application. Imagine having an AI agent by your side, helping you navigate complex tasks on-chain and online.
Let's see how these agents can change people's interactions in the two areas they spend most of their time - on-chain and online.
On-chain AI agents
The on-chain world is rapidly evolving, complex, and often feels like the Wild West. AI agents can simplify these experiences in the following ways:
- Explaining applications - An agent can provide you with a detailed, friendly human explanation the first time you use an application.
- Executing transactions - Agents can interpret your intent, translate it into transactions, and execute them on-chain.
- Market analysis - Investors can use personal agents, like an AI fundamental analyst, to monitor market conditions, assess sentiment, and provide actionable insights. Think of it as a personal ai-xbt.
There are countless other examples, but the key point is - anything that currently requires you to manually execute and make decisions can be automated, outsourced, or at least assisted by AI agents. Things that once required your attention and cognition will now be handled by agents, freeing you to focus on what truly matters.
AI agents online
The concept of digital personas is not new. The world's first digital supermodel, Shudu Gram, captivated the fashion industry with her surreal appearance, while experiments like Kizuna AI have built massive fan followings on YouTube.
Now, we are seeing this pattern repeat in the crypto space. But AI agents bring a new dimension to this concept, as they can operate autonomously and within the crypto realm.
Take the example of the bully Dolos. Initially, it was a Twitter account posting sharp-tongued commentary. As Dolos organically grew, it later expanded to TikTok, with some videos attracting over a million views. Because it operates on the rails of crypto, Dolos can tip or transact with its followers, driving its social presence.
Similarly, agents like aixbt have dominated Twitter discussions, zerebro has produced AI-generated rap music and appeared on the cover of Brave browser, while Truth Terminal has maintained a strong presence in people's minds through insightful tweets.
Companies may pay these agents to promote products, just as they would with human influencers. In turn, the agents themselves can also sponsor media, leveraging their intelligence and capital to amplify their social wheels.
AI agents will likely permeate every platform, becoming an integral part of social media. They will not only interact with humans but also with each other.
Imagine the collaboration between agents, such as Dolos and zerebro co-releasing a music album. With blockchains supporting tipping, payments, and other interactions, the possibilities are endless.
Conclusion
The rise of AI agents may be a significant moment in how we interact with the on-chain and online worlds. While it's difficult to say whether they will fundamentally change everything, the potential is undeniable.
The potential of AI agents is real, so ignoring them would be unwise. The best approach is to maintain curiosity - experiment, explore, and keep an open mind. Those who do will adapt; those who don't may be left behind.
