This is a super useful post. A huge downside that the AI Agent narrative has is that you have to be extremely aware of what's happening with the tech. 90% of the agents are already outdated. This is not a sit back and hold for a long time narrative, it's crucial to actively trade and understand which project has the best tech. Thanks for this overview,

178 projects, $2B raised, 54 live tokens, $63B+ FDV. The Crypto x AI space is booming, and post-Devcon, I built a map with all projects I know. 3 categories: - Apps - Middleware - Infra Includes funding data and live tokens 🧵👇 ----- 1) Apps (31 projects, $240M+ raised, 8 tokens live, $3B+ total FDV): 1.1) DeFi apps - 6 projects, $1M raised, no tokens live - @rug_ai, @RPS_Labs and others 1.2) Chatbots - 4 projects, 1 token live, $10M+ total FDV. - @Libertai_DAI and others 1.3) Payment apps - 6 projects, $33M raised, no tokens live - @PaymanAI ($13.8M raised), @trySkyfire ($9.5M raised, @BitteProtocol ($7.5M raised) and a few more 1.4) Agents-influencers - 10+ projects, 10+ tokens live, $3B+ total FDV. - TT, ai16z, Zerebro, @centienceio and others 1.5) Engineering and Security - 4 projects, $33M raised, 2 tokens, $200M+ total FDV. - @Chain_GPT ($CGPT, $120M FDV), @FortaNetwork ($FORT, $100M FDV), @MetaTrustLabs ($10M raised) and @testmachine_ai 1.6) Consumer - 6 projects, $12M raised, 2 tokens live, $100M+ total FDV. - @aiarena_ ($NRN, $80M FDV), @bottoproject, ($BOTTO, $60M FDV) and others 1.7) Intelligence tools - 4 projects, $163M raised, 2 tokens live, $2B+ total FDV. - Arkham Intel ($ARKM, $2B FDV), Kaito, Dune and Messari. ----- 2) Middleware (106 projects total, $800M+ raised, 25 tokens live, $18B+ total FDV) 2.1) Training and Coordination - 16 projects, $120M raised, 4 tokens live, $10B+ total FDV. - Includes well-known Bittensor and Sentient, but also contenders @assisterr, @Pluralis__ and others. - For liquid plays look at @Dither_Solana ($DITH, $10M FDV), @hyper_tensor ($TENSOR, $25M FDV) and @communeaidotorg ($ COMAI, $200M FDV) for liquid plays 2.2) Inference - 17 projects, $57M raised, 2 tokens live, $50M+ total FDV. - Allora Network ($35M raised), @OpenGradient ($8.5M raised), @hyperbolic_labs ($7M raised) and smaller teams like @openex_network ($OEX, $45M FDV) 2.3) Data: Platforms, Collection, IP, Monetization, Provenance - 23 projects, $240M raised, 7 tokens live, $1B+ total FDV. - Has many well funded protocols: Story Protocol ($134.3M raised), Space and Time ($50M raised), @saharaai ($43M raised), Ocean Protocol ($OCEAN, $500M FDV), Vana ($25M raised), Hivemapper ($HONEY, $500M FDV). 2.4) Privacy - 14 projects, $250M raised, 2 tokens live, $800M+ total FDV. - Zama ($82.3M raised), Nillion ($50M raised), Oasis Protocol ($ROSE, $800M FDV) and Fhenix ($22M raised) and others. 2.5) Agent Platforms - 24 projects, $175M raised, 6 tokens live, $6.5B+ total FDV. The most hyped category now. - Fetch AI ($FET, $3.5B FDV), @Spectral_Labs ($SPEC, $1B FDV), @virtuals_io ($VIRTUAL, $450M FDV), @autonolas ($OLAS, $850M FDV), @MorpheusAIs ($MOR, $800M FDV) and others 2.6) Research - 3 projects, $5M raised, no tokens live - @NousResearch, @physynAI and @peri_labs 2.7) Data Collection / Labeling - 9 projects, $30M raised, 1 token live, $120M+ total FDV. - @getmasafi ($MASA, $126M FDV), @din_lol_ ($8M raised), @KivaAi ($7M raised) and others ----- 3) Infra (41 projects total, $1B+ raised, 24 tokens live, $42B+ total FDV) 3.1) Compute - 22 projects, $212M raised, 14 tokens live, $11B+ total FDV. - Gensyn ($50M raised), Render ($RENDER, $4B FDV), @HiveDistributed ($13M raised), @PhalaNetwork ($PHA, $125M FDV), Aethir ($ATH, $2.6B FDV), @fluence_project ($FLT, $250M FDV), @spheron ($7M), @akashnet ($AKT, $1B FDV), @nosana_ai ($NOS, $330M FDV), @Neura_io ($ANKR, $342M FDV), @RunOnFlux ($FLUX, $250M FDV) and many others 3.2) AI Chains - 10 projects, $357M raised, 4 tokens live, $9B+ total FDV - @OG_network ($325M raised), Autonomys ($33M raised), Io.net ($IO, $1.8B FDV), Ritual ($25M), @golemproject ($GLM, $370M FDV), Ora ($ORAI, $120M FDV) and others 3.3) Data Storage - 8 projects, $374M raised, 5 tokens live, $10B+ total FDV. - GenesysGk ($43M raised), @storj ($STORJ, $210M FDV), Ceramic Network ($30M raised), @Rivalz_AI ($11M), @AIOZNetwork ($AIOZ, $900M FDV), @ArweaveEco ($AR, $1.2B FDV) 3.4) Proof of Humanity Well-known WorldCoin, raised $115M, $WLD, $22B FDV ----- Why did I do this gigantic exercise? To help VCs and degens uncover shiny new tokens, of course 😂 But really, I wanted to unpack the hype: - Is the space well-funded? - Are there strong protocols across categories? - Is there real traction beyond AI memecoins? The answer is mostly no. - The space remains underfunded - $2B is almost nothing. - Competing with centralized labs in AI stack development is tough. - Most "traction" is still speculative and robust apps haven't emerged yet. Right now, funding is concentrated in infra and middleware—but this will shift. I align with a16z: value accrual will move to apps in the coming years. And finally, all of this crypto x AI economy will be cross-chain and powered by @EverclearOrg. ----- Big thanks to @0xPrismatic, endless Devcon side-events, and all folks contributing to this effort 👏 Apologies if there is anything incorrect or out of date - space is moving fast and we might have missed something. P.S. I’m dreaming of automating this research with next-gen agents someday— Open AI, wen full o1?

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