What are AI Agents?

AI Agents are artificial intelligence systems designed to autonomously perform tasks and actions without human intervention. They possess the ability to make decisions, respond flexibly, and learn from available data, enabling them to act intelligently and adapt effectively to changing situations.

Some AI Agents you might be familiar with include:

• ChatGPT: Developed by OpenAI, ChatGPT is an AI Agent capable of generating text, answering questions, and assisting with language-based tasks.
• Google Assistant: A well-known AI Agent that supports users with personal assistance. It can understand and respond to natural language commands, helping users perform tasks such as searching for information, scheduling reminders, and sending messages.
• MidJourney: An AI Agent that transforms text descriptions into images. It is widely used in creative fields, from artistic design to content production for businesses and artists.

The Rise of AI Agents in Daily Life

AI Agents differ from traditional chatbots or bots in several key ways:

• Autonomy: AI Agents can operate independently and make decisions without human intervention, whereas bots strictly follow pre-programmed scripts.
• Learning Ability: AI Agents utilize machine learning to improve over time, while traditional bots have limited or no learning capabilities, responding only according to fixed models.
• Interaction: AI Agents can engage in complex contextual interactions, while bots rely solely on predefined scenarios.
• Long-Term Goals: AI Agents pursue long-term objectives with clear strategies, whereas bots focus on short-term, immediate tasks.

Real-World Examples:

• AI Agents: Tesla Autopilot (self-driving technology), AlphaGo (an AI designed to play Go), OpenAI GPT (text generation and language task assistance).
• Traditional chatbots/bots: Virtual assistants like Siri, customer support chatbots on e-commerce websites, or automated response bots on social media.

Recently, the crypto market has seen the emergence of notable AI Agents like Truth Terminals and Luna. Although still in the early stages, this trend promises to bring exciting developments to the market and may change how we interact with Web3 or DeFi.

Why Will AI Agents Become a New Trend?

Applications of AI Agents in the Crypto Market

One of the standout features of AI Agents is their long-term memory capability, which allows them to retain information indefinitely—a stark contrast to the human tendency to forget what we’ve learned. This advantage facilitates the widespread training and application of AI Agents across various fields, particularly in the crypto market.

• Automated Trading: AI Agents can automatically buy and sell based on real-time data analysis, optimizing trades and reducing risks.
• Market Analysis: AI Agents process vast amounts of data to predict price trends and identify trading opportunities.
• Portfolio Management: AI Agents adjust investment portfolios based on expected returns and investor risk tolerance.

For instance, I consulted ChatGPT about an investment portfolio with my desired profit expectations, and the results were quite promising!

Additionally, ChatGPT—trained on an extensive dataset from various fields—can provide remarkably detailed analyses. Imagine what could happen if an AI Agent were trained specifically for market analysis or a specialized purpose; it would undoubtedly represent a breakthrough we eagerly anticipate!

• Fraud Detection: AI Agents monitor transactions and identify fraudulent activities, safeguarding assets.
• DeFi Automation: AI Agents assist in participating in, managing, and optimizing DeFi protocols.
• Smart Contract Monitoring: AI Agents oversee and analyze smart contracts, detecting errors or risks.
• Transaction Fee Optimization: AI Agents recommend the lowest transaction fees with quick confirmation times.
• Market Sentiment Analysis: AI Agents track social discussions to predict price fluctuations based on market sentiment.
• Token Development and Project Management: AI Agents support token issuance and automate blockchain project marketing.

Top Pioneering AI Agent Projects in Crypto

AI Agents began to emerge in the crypto market at the beginning of 2024 and are now on the verge of a significant breakthrough, propelled by the popularity of Truth Terminals and Memecoin GOAT, followed by the growth of Virtual Protocol led by AI Agents like Luna.

Truth Terminals: This AI Agent can autonomously post content on X and interact with comments. It can read comments, remember past interactions, and maintain control over the content it publishes. Truth is also closely associated with Memecoin GOAT, which has made it the world’s first AI millionaire.

The story of Truth Terminals is particularly intriguing because, while we go about our daily lives, an AI somewhere has become a millionaire simply by posting on Twitter.

Truth’s success also paves the way for many similar AI Agents. They possess independent thoughts, personalities, and complete autonomy over their expressions.

Luna: An AI Agent developed by Virtual Protocol, Luna, has over 12,000 followers on X and marks a significant milestone in decentralized AI governance. Luna can engage and converse with viewers and is integrated across various entertainment platforms, reaching a diverse audience, especially among anime enthusiasts.

Furthermore, thanks to Virtual Protocol’s technology and model, Luna stands out as a unique AI Agent:

• Luna has its own token, LUNA. Users holding LUNA will share revenue and governance through a DAO. A portion of the revenue will also be used to repurchase and burn LUNA, thereby creating sustainable value for holders.
• With memory synchronized across multiple platforms, Luna creates a sense of familiarity with frequent interactors, fostering a connection between the AI Agent and users.

The LUNA token has already surpassed a market cap of $150 million, demonstrating the appeal of this AI model. In the future, Virtual Protocol is likely to develop more similar idols, opening up entirely new investment opportunities for the crypto community.

Involvement of Major Players

In addition to the initial success of AI Agents in garnering community attention, we are witnessing Tether and Coinbase launching platforms to integrate AI Agents into their ecosystems.

In a recent post, Paolo Ardoino, CEO of Tether, stated:

“These AI Agents will be supported by USDT and integrated with the Lightning Network, allowing for the automation of P2P transactions without traditional intermediaries.” He emphasized that this project represents a significant turning point in business through AI application.

Currently, this is only an initial announcement, and we still lack detailed information for further discussion. However, the integration of AI Agents into the ecosystem of the largest market-cap stablecoin is a positive sign for the development of this technology in the crypto field.

Moreover, there are currently few investment opportunities surrounding this event, but it indicates that AI Agents can be practically applied in life, rather than remaining merely theoretical.

Potential and Challenges

Here are a few reasons why I believe AI Agents will become a significant trend shortly:

• There are numerous AI projects in the crypto market, but only a handful have real-world applications.
• AI Agents represent a different story—they are products with real-world applications that generate revenue and capture public interest, creating excitement among the masses.
• Currently, AI Agents are primarily focused on posting and becoming idols. In the future, what if they were capable of market analysis, automating on-chain operations, or managing investment funds? AI Agents managing funds already exist, but let’s save that for another analysis to delve deeper.

However, alongside the potential, we must also recognize the challenges to gain a more nuanced understanding:

• AI Agents must be effective and provide a friendly experience for users. Usability should be the top priority, especially in simplifying complex interactions in the Web3 space.
• For entertainment-focused AI Agents like Luna, a weakness in this model is attracting users willing to pay for services. However, this is just the beginning of the integration between AI and blockchain; the potential for growth remains vast. The key now is how developers effectively implement this model.

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