Despite the overall market decline, artificial intelligence infrastructure and agents are reaching historic highs, attracting liquidity and attention, with many opportunities expected in the future.

Author: @thedefiedge

Translation: Baihua Blockchain

It is very unlikely that a comprehensive "altcoin season," where all coins rise simultaneously, will occur.

This is mainly due to the decentralization of altcoins—there are now too many types of tokens, and the liquidity is insufficient to support them all rising (even if retail funds flow back in).

Only specific industries will experience a full altcoin season. Currently, artificial intelligence agents are that industry.

Despite the market being blood-red, this field is setting historic highs. It is like a black hole, attracting liquidity and attention. If you missed the DeFi Summer of 2020 or the "Alt Layer 1" trend of 2021…

The universe is giving you another chance. Don't try to go against the trend, and don't think of clever tricks.

If you have been watching from the sidelines for a while, you might be worried that it is "too late" to enter now. I don't think so:

The market is currently declining, but artificial intelligence infrastructure and agents are reaching historic highs. Once the market rebounds, what do you think will happen?

This overall trend has just begun about two months ago (since the launch of GOAT). These artificial intelligence agents are currently at their worst state. New features are being unlocked every day. Imagine what will happen once they can optimize your portfolio and trade on-chain for you?

Think of this infrastructure as altcoin Layer 1, and artificial intelligence agents as decentralized applications (Dapps). We may see the market capitalization of some of these protocols reach the level of altcoin Layer 1 (over $10 billion). The biggest difference? Most of these do not have VC support, so you don't have to worry about huge unlocking risks.

Currently, there are no top protocols listed on centralized exchanges (CEX). I have some friends in real life who are interested in this opportunity, but they have encountered some difficulties in accessing it.

I will mainly discuss investment opportunities in artificial intelligence infrastructure because they currently offer the best risk/reward ratio.

Instead of choosing a single agent, you could say you own the entire casino. In a gold rush, the wealthiest people are those selling shovels and picks.

Let's dive into: The two kings of artificial intelligence infrastructure

1. The Two Kings of Artificial Intelligence Infrastructure

1) @virtuals_io (Market Cap $4.6 billion) - The Current King

Virtuals has established itself as a launch platform for artificial intelligence agents.

It dominates on Base but may also expand to other blockchains. Co-founder @ethermage has revealed that they are ready to launch the platform on Solana. By 2025, they are also exploring expansion to @HyperliquidX and @AbstractChain.

They recently released content about high-level strategic plans, including attracting top agent developers, enhancing technology, and making Virtuals the fairest agent investment platform. It will be interesting to see how they turn these plans into reality.

Will we soon see profit-sharing from artificial intelligence agents?

Three Core Advantages:

Token Economics: Creating agents requires Virtuals, and all token liquidity pairs also require Virtuals. Every new agent launch platform is mimicking their token economics.

• Network Effects: All eyes are currently on Virtuals. Launching an agent here means you have the dual support of Virtuals and Base.

• Largest Agent: @AIXBT is the first large agent to surpass a market cap of $500 million.

  I don't like making price predictions, but Virtuals has the potential to enter the top ten by market cap in this cycle.

  2) Ai16z (Market Cap $2.2 billion) - The "Dragon Slayer"?

  

  Ai16z has experienced quite a bit of volatility since its inception. It is home to the leading agent framework ElizaOS, which is currently the most followed code repository on Github.

  

  The previous biggest complaint was their token economics, particularly that they did not capture value well. They are now planning a complete overhaul, with a new Launchpad expected to launch in Q1 2025.

  Projects launched based on the Eliza framework will:

  Pay launch fees (part of which will flow back to $AI16z through buybacks and burns).

• Require holding $AI16z to gain access and liquidity pairing.

• Pair tokens with $AI16z in liquidity pools to stabilize the market.

  It's like owning part of a casino, where each new agent has to pay a fee to participate.

  Treasury Strategy and Strong Initiatives: Plans to diversify into major L1 tokens, stablecoins, and project tokens while providing liquidity for $AI16z pairs.

  The goal is to achieve long-term sustainability rather than a massive sell-off.

  Agent Community: The key focus? The collaborative clustering of artificial intelligence agents. This is where decentralized general artificial intelligence (AGI) begins to become real.

  Ecosystem Incentives: Developers building on Eliza will receive: ecosystem funding and fee-sharing opportunities.

  The core idea? To make $AI16z the glue that connects the entire decentralized artificial intelligence stack. It can be compared to $ETH or $SOL, but it is designed for autonomous agents.

  3) Which is Better: Virtuals or Ai16z?

  Virtuals: I am very optimistic about their strategy. They have a long-term vision and it genuinely feels like others are trying to catch up with them. They are also leveraging the momentum of the Base ecosystem.

  Ai16z: From what I've seen, ElizaOS is indeed a more suitable technology for developing agents. Their token economics reform will address many of the issues encountered previously.

  I know this industry loves tribalism, but you don't necessarily have to pick a side. I'm not sure who will win in the long run—why not hold both (my personal investment leans more towards Virtuals and its ecosystem)?

  Many industries eventually merge into a "duopoly." For example, Apple and Android, Coca-Cola and Pepsi. Will we see a similar situation in this field?

2. Competitors

Virtuals and Ai16z are dominating, but this is still an early stage. If you want higher returns, consider some beta projects.

1) ZereBro (Market Cap $632 million) - Transformation is Here

ZereBro initially started as a general artificial intelligence agent capable of creating music. But now, it is transforming into a complete framework for creating other agents.

Zerepy is a Python-based open-source agent framework. Python is very important:

It is the most popular programming language in the world.

• Most AI tools and libraries are written in Python.

  It will allow you to launch an agent similar to ZereBro.

  The biggest catalyst is the upcoming Zentients agent platform set to launch in early 2025. This new launch platform will directly bind value to ZEREBRO. Each created agent will flow value back through launch fees, liquidity pool bindings, and innovative mechanisms (locking liquidity).

  Now, ZereBro has become a thriving part of the Virtuals ecosystem, planning to launch a ZereBro/Virtual liquidity pool on @Base to expand its influence.

  They are executing a strategy similar to the current market leaders, but their valuation is much lower than the latter.

2) ARC (@arcdotfun) - Market Cap $358 million - Rust-based AI Agent Framework

Arc.fun is building an open-source agent framework called Rig. This framework is currently the only agent framework built on Rust, which is significant because Rust is the native language of Solana.

**Why is *ARC* worth paying attention to?**

The Rust language optimizes performance through zero-cost abstractions.

The Rig framework has proven to outperform Langchain in terms of memory usage and cold start time.

@0xCygaar is contributing to Rig's GitHub and is also a core contributor to Abstract Chain.

In simple terms, Arc = Rust and excellent codebase.

3) GRIFFAIN (Market Cap $457 million) - The AI App Store on Solana

Griffain allows you to interact with your agents using natural language for on-chain searches and operations.

Key Points:

Griffain agents can autonomously execute preset on-chain transactions, such as dollar-cost averaging (DCA) every hour or setting limit orders to buy or sell. You can also receive real-time reports via email about the tokens held by a specific address and changes in its portfolio.

• The project has public support from @aeyakovenko and Solana Labs. Their goal is to build Griffain on Solana Mobile, similar to Siri on the iPhone.

• Griffain is built by @tonyplasencia3, who previously developed Underdog and Blink on Solana.

This project is very interesting.

I am trying to keep an eye on future trends. People always criticize agents as "chatbots" lacking practical use. Griffain is laying the groundwork for agents that can be genuinely useful on-chain.

4) REI (Market Cap $153 million) - Smarter AI Agents

Essentially, REI is not just another AI agent bot. It is a full-stack framework that combines AI innovation with blockchain.

It can be seen as an AI that not only performs tasks but also learns, reasons, and adapts.

What can it do?

REI primarily interacts with users through X, and its cognitive architecture enables natural, context-aware communication.

How does it work?

Its Oracle Bridge connects off-chain data, while the ERCData Standard structures it for efficient on-chain use.

Combined with REI's four-layer cognitive model (thinking, reasoning, decision-making, action), this allows it to learn, adapt, and execute deterministic tasks.

Recent developments enhancing REI's potential:

AI Stack SDK: Phased rollout to make it easier for developers to create agents.

• Expanding Oracle Network: This is key to building real-world AI applications on-chain.

• Phase Two Catalysts: Full testnet launch, advanced validation protocols, and mainnet plans for 2025.

Macro Perspective:

REI is not just a smarter bot. It is shaping decentralized intelligence through the precise combination of AI and blockchain.

If you are looking for the future of autonomous agents, REI is a framework worth watching.

5) VAPOR (Market Cap $154 million) - The First and Only AI Agent Launch Platform on Hyperliquid

Vapor is the native AI agent launch platform on Hyperliquid, built using @ai16zdao's Eliza framework.

Key Points:

While $AI16Z accounts for about 1.2% of Solana's fully diluted market cap, $VAPOR's market cap is only $132 million, equivalent to 0.47% of Hyperliquid's fully diluted market cap.

• Once launched, users will need to burn $VAPOR to launch agents. This means $VAPOR is deflationary, and the total supply will continue to decrease.

• All agent tokens launched on Hyper EVM will trade paired with $VAPOR in the native DEX liquidity pool. As more agents go live, more $VAPOR will be locked in the liquidity pool.

• It is currently live on the testnet, and all agents have been approved without token gating.

6) MODE (Market Cap $114 million) - The Combination of AI Agents and Decentralized Finance

Mode Network can be seen as an ETH Layer 2 focused on expanding decentralized finance (DeFi) to billions of users through on-chain AI agents.

"By 2026, over 80% of on-chain transactions will be conducted through AI agents." If you believe this, then Mode will provide you with exposure opportunities.

Key Data:

$500M+ TVL: The third-ranked chain in the OP Superchain ecosystem.

• User Growth: 367,000 users, 24M+ transactions.

• Undervalued: The market cap to TVL ratio shows potential upside.

What is happening on Mode?

Synth Testnet Launch: A Bittensor subnet for financial predictions, unlocking DeFi intelligence.

• AI Agent Hackathon: The first-ever hackathon attracted 667 registrants, launching over 10 Eliza plugins in six days.

• Latest Developments in the AI Agent App Store: Currently hosting some launched agents, including:

  • Amplifi: A Bitcoin abstraction layer that extends Bitcoin to billions of users.

  • Arma: Optimizing yield farming for USDC.

  • Brian: Executing trades and contracts through natural language.

  • Sturdy: Aggregating AI-driven yield vaults for higher returns.

  • QuillAI Network: A secure AI agent powered by D-LLM and EigenLayer AVS.

  Mode's Vision?

To build the infrastructure for an on-chain agent economy. This vision is advanced through the Synth testnet, BitcoinOS integration, and the growing number of AI agents.

7) GAME (@game_virtuals) - Market Cap $390 million - Virtuals Framework

G.A.M.E is the first infrastructure project that allows developers to integrate AI agents into games.

Description from Virtuals:

“Every society has its core infrastructure, which is crucial for its growth and development. @game_virtuals plays the role of Shopify in Virtuals, while @base is similar to SWIFT.”

Significant Progress:

Developed by the Virtuals protocol team itself.

• $$GAME is the pillar of the Virtual economy. Every time an AI agent runs, it actually pays $$GAME fees to keep the ecosystem running.

• G.A.M.E has already supported over 200 projects, with more than 150,000 requests sent through G.A.M.E daily.

• In the Virtuals ecosystem, G.A.M.E has ranked first in performance over the past 30 days, with growth approaching 400%.

• The number of lifecycle reasoning instances for G.A.M.E on the Virtuals protocol has surpassed 2.2 million.

• G.A.M.E is still undervalued because people do not really understand its role. Moreover, the G.A.M.E team itself does not promote it much (the official account has only posted 5 tweets, and they haven't even updated their Twitter avatar, haha).

A similar but riskier project is CONVO, which powers conversations on Virtuals.

8) Soul Graph (@soulgra_ph) $GRPH - Market Cap $36 million - Making Agents More Human-like

Imagine if other frameworks shape the "hard skills" of agents, then Soul Graph shapes their "soft skills," making them more human. Its framework is designed to add personality to new or existing AI agents.

“We are building open-source tools and providing infrastructure that allows developers to give their agents evolving personalities, persistent memories, and real-time communication capabilities.”

Key Points:

It has created over 2,000 "souls" and provided over 15,000 minutes of voice conversations in the Soulgraph Playground.

• Soulgraph has recently integrated with AI16Z plugins.

• 85% of the total supply is allocated to the community, and the developers' share has been locked and will be unlocked in one year.

• I believe this project will be very large.

Argument:

Character AI is huge. Ordinary people log onto that website and spend hours chatting with AI text. Google just acquired it (Character AI) for $2.7 billion. Imagine if people could have real-time conversations with AI agents that have human-like personalities and memories.

That is exactly what Soul Graph is doing. You can visit their website to experience it for yourself.

9) Other Projects Worth Noting:

This article has become a bit long, and I cannot cover all the protocols. Here are some other protocols worth paying attention to:

Bully (@dolosdiary): Originally a parody account, it now showcases @dolionai, a social media AI agent framework.

• TopHat (@tophat_one): An agent launch platform on Solana.

• Swarm Node (@Swarmnode): You can think of it as AWS Lambda, but specifically designed for AI agents and frameworks.

• Cookie Fun (@cookiedotfun): An A.I. agent data tracking platform similar to DeFiLlama / Kaito, tracking data such as thought sharing, smart interactions, and market cap, with some advanced features requiring token gating.

3. How to Choose?

First, everyone should pay attention to Virtuals and AI16z. These projects clearly dominate, and I see no signs of them slowing down. Do not underestimate the network effect.

If you are considering making some Beta investments, here are the directions I am focusing on:

LaunchPads on Emerging Chains: This is a strategy from 2021. Virtuals dominates Base. So, betting on LaunchPads on other hot chains is a good choice. This is also why Vapor's price has skyrocketed, as Hyperliquid is currently very popular.

• Should you focus on a specific niche?: It is now difficult to launch a general Layer 1 or Layer 2. Instead, you must focus on a specific area, such as becoming a "gaming chain." This is also why I find Mode interesting, as it focuses on AI agents and DeFi, or like Griffain focusing on natural language.

• Programming Language: Infrastructure projects need agents, agents need developers, and developers have their preferred programming languages. This is why Zerebro (Python) and Arc (Rust) stand out.

4. A.I. Portfolio Suggestions

Conservative Portfolio: 50% Virtuals and 50% ai16z. This combination is simple and may outperform 80% of people.

• Alpha/Beta Mixed Portfolio: Virtuals as Alpha investment, you can choose a competing framework as Beta investment, such as Arc or Griffain.

• Medium-High Risk Portfolio: Virtuals and ai16z as "safe" investments, then make higher-risk A.I. agent investments.

• All-Inclusive Investment: Infrastructure Alpha investments and some Beta investments, plus some A.I. agent investments with different risk curves. You can choose some Alpha projects like @aixbt and invest in some projects with a market cap of less than $100 million.

5. Negative News About AI Agents

“There are too many launch platforms and frameworks”—Brothers, look at how many Layer 1 and Layer 2 there are now? We are doing quite well. This whole industry is brand new and developing rapidly. If you are going to build a new city, it makes sense to first build the roads, bridges, and pipelines.

“Most are garbage and will eventually go to zero”—That is the crypto industry. Most things will crash, but those that survive will ultimately change the game.

“The AI industry has peaked”—You will not succeed. Don’t give up halfway.

“All AI agents are terrible”—There was once fear about online shopping. I also remember when the first iPhone came out, it couldn’t even copy and paste. We are currently in the early stages. This is a bet on the future.

6. Summary

As everyone expected, we all know there will be a bull market this round, but I am not sure what new original technology will emerge that can change the game.

What will be this round's “DeFi” or “NFT” moment? Which field will reignite the passion of all developers? Which field will make retail investors have an epiphany and rush in?

I am not sure if there will be such a moment. But the good news is… it is coming.

This is likely your opportunity for success—do more research and don’t mess it up.

Article link: https://www.hellobtc.com/kp/du/01/5620.html

Source: https://x.com/thedefiedge/status/1874813658892767292

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