I've observed that the current technological narrative surrounding Crypto has been summarized into two main lines: 1) "Asset Tokenization": This involves putting traditional financial assets "on-chain," including stocks, government bonds, options, and commercial paper. The goal is to expand "what can be traded," breaking the current predicament of Crypto's purely virtual currency trading without value accumulation. Examples include Coinbase's integrated financial account, Nasdaq's 23-hour trading, JPMorgan Chase's issuance of commercial paper on Solana, BlackRock's BUIDL tokenized fund, and Robinhood's comprehensive integration of crypto assets. 2) "User Agentization": This allows AI agents to become independent actors, expanding "what the trading subject is," moving from the traditional "user" subject to "Agent," thereby forming an Agentic Economy ecosystem based on intent to complete payments, transactions, and asset allocation. Examples include Google's collaboration with Coinbase to promote the AP2+x402 standard, a16z's "Know Your Agent" trend, and prediction markets like Polymarket/kalshi integrating AI LLM to expand into derivatives markets. On the surface, the two narrative directions are not new: asset tokenization corresponds to RWA, and user agentification corresponds to AI Agent +x402. However, it should be noted that these two major narratives are not the efforts of Crypto alone, but rather a "two-way journey" between Crypto and the traditional financial market.

Actually, these two directions are: one is the combination of crypto and traditional finance, and the other is the combination of crypto and AI. Today I'm also writing a similar article on this topic; feel free to criticize.