New Narratives of Web3 and AI Agents: Analysis of Potential Projects

In the first half of 2024, the total market capitalization of the cryptocurrency market grew by 37.3%. Among them, AI-related projects performed strongly, second only to Memecoin. The combination of Web3 and AI has become a hotspot of interest for major venture capitalists, especially the application of AI Agents in the Web3 field.

AI Agent is an "agent" based on a large language model that can autonomously perceive, think, decide, and execute. Unlike traditional AI chatbots, AI Agent is designed to complete autonomous tasks without the need for continuous human guidance.

Introducing AI Agents to Web3 can bring the following advantages:

1. Enhance censorship resistance
2. Achieve decentralization and distributed ownership
3. Provide developers with new profit models
4. Improve the composability between systems

At the same time, AI Agent can also bring convenience to Web3 users:

1. Simplify the process of on-chain information retrieval and aggregation.
2. Improve the way users interact with Web3, such as automating airdrop tasks, building trading bots, etc.

Currently, Web3 x AI Agent projects are mainly divided into two categories:

1. On-chain conversational AI Agent: Used for learning and research, not involving on-chain operations.
2. AI Agent with on-chain interaction capabilities: capable of executing specific on-chain tasks

Spectral Project Analysis

Spectral was originally a credit scoring protocol on Ethereum, but it has now transformed into a machine intelligence network that allows users to build on-chain AI Agents.

Main products:

• Spectral Syntax: Officially developed collection of Agents
• Spectral Nova: Decentralized Machine Learning Inference Platform
• Agent Wallets: Crypto wallets integrated with AI Agent
• Inferchain: Layer 1 powered by AI Agent

Token Economy:

• $SPEC is used for payment of service fees, governance, and staking.
• Currently circulating market value is 85 million USD, FDV is 800 million USD.
• Token unlock for core contributors and investors starts in May 2025

Development Data:

• Registered users 65,362
• Number of contracts generated: 1,055,568
• An average of 25 interactions per user

GaiaNet Project Analysis

GaiaNet is a distributed AI infrastructure aimed at building a decentralized AI Agent ecosystem.

Core Components:

• GaiaNet Node: Individuals and businesses can deploy knowledge-based AI Agents
• GaiaNet domain name: A collection of nodes in a specific domain
• GaiaNet DAO: Management and Incentive Mechanism

Business Model: Users pay nodes to use the AI Agent, and the fees are shared among nodes, domain operators, and stakers.

Financing situation: Completed a $10 million seed round financing in May 2024.

Current data:

• 35 available conversational AI agents
• Total node count 18,594

Other Early Projects

• Zotto: Users can create trading intent AI Agents.
• AgentLayer: AI Agent Layer2 based on OP Stack
• Olas Network: Off-chain AI Agent Ecosystem
• Theoriq: Modular and Composable AI Agent Foundation Layer
• AgentCoin: Universal Web3 AI Agent
• Giza: Web3 AI Agent framework, supports ZKML