Eliza Labs, backed by ai16z, releases a whitepaper on Web3 native AI agents
The company envisions a world where AI agents like Eliza will automatically transact on-chain.
On January 14, 2024, Eliza Labs - the development company behind ai16z - released a whitepaper outlining its vision for Web3 native artificial intelligence agents, according to the Web3 AI project.
The 20-page document details ai16z's Eliza AI agent toolkit, aiming to serve as an "ideal agent framework that can seamlessly integrate Web3 applications into AI agent capabilities."
The whitepaper states that Eliza was launched in 2024 to support AI agents capable of "reading and writing blockchain data, interacting with smart contracts, and more."
Ultimately, Eliza Labs hopes to foster Web3 native AI agents with the ability to autonomously analyze data and execute transactions.
The whitepaper notes that "individual investors urgently need a system to help manage their portfolios and perform intelligent operations and trades."
Open-source AI agent operating systems like Eliza aim to "democratize access to advanced AI capabilities, significantly lowering the barrier for the general public to enter this field."
Comparison of Eliza with peers. Source: Eliza Labs
The Rise of Agent-Based AI
Industry executives predict that AI agents will transform Web3 by 2025, with early use cases including cryptocurrency trading.
Agent-based AI - machines that autonomously pursue complex objectives - has already begun reshaping the digital economy, building Web3 applications, launching tokens, and interacting independently with humans.
"By 2025, AI agents are expected to play a more prominent role in decentralized communities," J.D. Seraphine, CEO of Raiinmaker Web3 AI development company, told Cointelegraph.
According to a VanEck report, by December, Web3 had already hosted around 10,000 AI agents, collectively earning millions of dollars through on-chain activities each week. The report forecasts that by the end of 2025, there will be over 1 million AI agents within blockchain networks.
AI agent tokens by market capitalization. Source: CoinGecko
The AI Token Frenzy
According to CoinGecko data, in 2024, the total market capitalization of tokens tied to AI agents surpassed $10 billion, primarily concentrated in the fourth quarter.
The native token of the ai16z project, AI16Z, has been particularly outstanding. According to CoinGecko data, since its launch in October, AI16Z has driven nearly $1.4 billion in market capitalization.
ai16z describes itself as the "first investment DAO led by AI agents" on its official website.
According to a community dashboard operated by the Elizaverse Observatory, the Eliza operating system supports over ten Web3 AI agents.
