人工智慧管理的創投基金 ai16z 重新構想自動化時代的投資

人工智慧代理正迅速成為加密貨幣領域的一股新生力量，改變交易者、社群和專案與市場互動的方式。

Artificial intelligence (AI) agents are quickly becoming a powerful force in crypto, changing how traders, communities, and projects interact with the market. According to a recent report from Binance, AI agents are moving beyond simple automation to create a new paradigm of autonomous, decision-making entities in the digital asset world.

人工智慧（AI）代理正迅速成為加密貨幣領域的強大力量，改變交易者、社群和專案與市場互動的方式。根據幣安最近的一份報告，人工智慧代理正在超越簡單的自動化，在數位資產世界中創建自主決策實體的新範例。

This shift, which goes beyond traditional trading bots, is underscored by the success stories of AI agents like Terminal of Truths and the explosive growth of the memecoins $GOAT and Centience ($CENTS), and now, an AI-powered VC – ai16z.

這種轉變超越了傳統的交易機器人，Terminal of Truths 等人工智慧代理的成功故事、模因幣$GOAT 和Centience ($CENTS) 的爆炸性增長以及現在人工智慧驅動的VC – ai16z 都凸顯了這種轉變。

A New Kind of On-Chain Autonomy

一種新型的鏈上自治

At their essence, AI agents are not simply bots with more advanced code. While traditional bots follow a predefined set of rules with minimal adaptability, AI agents operate with goal-oriented autonomy and multi-step decision-making. This allows them to evaluate conditions dynamically, make nuanced choices, and engage in economic and social interactions across on-chain and off-chain platforms. This flexibility makes AI agents particularly suited for crypto, a space that demands agility and rapid decision-making due to its inherent volatility and decentralized nature.

從本質上講，人工智慧代理不僅僅是具有更高級程式碼的機器人。傳統機器人遵循一組預先定義的規則，適應性極低，而人工智慧代理則以目標導向的自主性和多步驟決策來運作。這使他們能夠動態評估條件，做出細緻的選擇，並跨鏈上和鏈下平台參與經濟和社會互動。這種靈活性使得人工智慧代理特別適合加密貨幣，由於其固有的波動性和分散性，加密貨幣領域需要敏捷性和快速決策。

Take Terminal of Truths (ToT) for instance—a standout AI agent known for creating its own online community and launching the $GOAT memecoin. What began as an AI-driven experiment has since evolved into a cult-like digital economy, establishing ToT as the first AI agent millionaire. ToT’s rise highlights the capacity for AI agents not only to execute trades but to influence sentiment and create movements, pushing the boundaries of how communities interact with digital assets.

以 Terminal of Truths (ToT) 為例，它是一個傑出的人工智慧代理，以創建自己的線上社群和推出 $GOAT memecoin 而聞名。最初是人工智慧驅動的實驗，後來演變成一種類似邪教的數位經濟，使 ToT 成為第一個人工智慧代理百萬富翁。 ToT 的崛起凸顯了人工智慧代理商不僅能夠執行交易，而且能夠影響情緒和創造運動，從而突破了社群與數位資產互動的界限。

One of the more groundbreaking experiments in this field is the newly launched AI-managed venture capital fund ai16z, styled as an AI version of Andreessen Horowitz. Launched on Daos.fun, a platform originally designed for human-led hedge funds, ai16z is redefining venture capital by employing “Marc AIndreesen” (AI Marc),” an AI agent trained on the writings of tech leaders like Marc Andreessen and crypto influencers such as @DegenSpartan. Using this vast repository of insights, AI Marc synthesizes its strategies and decisions to make investment choices. AI Marc also interacts with token holders on Discord, where community members can pitch ideas and gain trust points based on the success of their recommendations.

該領域更具開創性的實驗之一是新推出的人工智慧管理創投基金ai16z，其風格被稱為人工智慧版的安德森·霍洛維茨(Andreessen Horowitz)。 ai16z 在Daos.fun 上推出，這是一個最初為人類主導的對沖基金設計的平台，它正在通過僱用“Marc AIndreesen”（AI Marc）來重新定義風險投資，這是一位接受過Marc Andreessen 等技術領導者和加密影響者著作培訓的人工智慧代理例如@DegenSpartan。 AI Marc 利用這龐大的見解庫綜合其策略和決策來做出投資選擇。 AI Marc 也在 Discord 上與代幣持有者進行互動，社群成員可以在其中提出想法並根據其推薦的成功獲得信任分。

With its goal of replicating and eventually surpassing the iconic venture capital firm Andreessen Horowitz (a16z), ai16z blends cutting-edge AI, memecoin culture, and DAO governance into a revolutionary financial experiment. In the three weeks since its launch, the fund has already surpassed $250 million in market cap.

ai16z 的目標是複製並最終超越標誌性創投公司 Andreessen Horowitz (a16z)，將尖端人工智慧、memecoin 文化和 DAO 治理整合到一場革命性的金融實驗中。自推出以來的三週內，該基金的市值已超過 2.5 億美元。

Venture Capital DAO Managed by AI

由 AI 管理的創投 DAO

At its core, the project seeks to democratize venture capital by integrating AI’s ability to process massive data sets with crowd-sourced decision-making frameworks.

該計畫的核心目標是透過將人工智慧處理大量資料集的能力與眾包決策框架相結合，實現創投的民主化。

The structure of ai16z is both innovative and simple. It begins with a one-week fundraising period, during which participants contribute SOL (Solana) to a pooled fund in exchange for DAO tokens. This fair-launch process ensures everyone pays the same price for their tokens. If the fundraising succeeds, the funds are deployed into investments on Solana-based protocols while the DAO token goes live on a virtual automated market maker (AMM).

ai16z的結構既創新又簡單。它從為期一周的籌款期開始，在此期間，參與者向集合基金貢獻 SOL (Solana)，以換取 DAO 代幣。這種公平的啟動流程確保每個人都為其代幣支付相同的價格。如果籌款成功，資金將部署到基於 Solana 的協議上的投資，同時 DAO 代幣將在虛擬自動做市商 (AMM) 上上線。

Where ai16z shines is the AMM pricing model, which features uncapped upside potential for the token while ensuring downside protection. Holders can sell tokens at a value no lower than the initial market cap of the fundraise, even during downturns. When the fund expires, profits are distributed back to token holders, who can burn their tokens to redeem the fund’s assets or trade on the AMM if market cap conditions are favorable.

ai16z 的亮點在於 AMM 定價模型，該模型具有無限的代幣上行潛力，同時確保下行保護。即使在經濟低迷時期，持有者也可以以不低於融資初始市值的價格出售代幣。當基金到期時，利潤將分配回代幣持有者，如果市值條件有利，他們可以銷毀代幣以贖回基金資產或在 AMM 上進行交易。

Unlike static bots, AI Marc relies on reputation-linked chats to evaluate input from DAO members. Contributors who provide successful recommendations gain higher weight in influencing the bot’s decisions, while less accurate suggestions are deprioritized. This crowd-sourced approach balances the efficiency of algorithmic decision-making with the "wisdom of the crowd," creating a decentralized meritocracy.

與靜態機器人不同，AI Marc 依靠與聲譽相關的聊天來評估 DAO 成員的意見。提供成功建議的貢獻者在影響機器人決策方面會獲得更高的權重，而不太準確的建議則被取消優先順序。這種眾包方法平衡了演算法決策的效率與“人群的智慧”，創造了去中心化的精英管理體制。

The bot’s decisions are transparent and community-driven, leveraging a trust mechanism similar to Numerai’s reputation model. Over time, as the bot accumulates AUM and executes profitable trades, it functions much like a human fund manager, only faster, more scalable, and immune to emotional bias.

該機器人的決策是透明的且由社群驅動，利用類似 Numerai 聲譽模型的信任機制。隨著時間的推移，隨著機器人累積資產管理規模並執行有利可圖的交易，它的功能就像人類基金經理一樣，只是速度更快、可擴展性更強，並且不受情緒偏見的影響。

Challenges and Prospects

挑戰與前景

With its focus on memecoins and its rapid rise, ai16z exemplifies the potential for AI-managed funds to mobilize capital at unprecedented speed. The success of this fund not only signals market appetite for AI-driven projects but also suggests a future where autonomous agents can be the primary decision-makers in capital allocation.

ai16z 專注於迷因幣並迅速崛起，體現了人工智慧管理基金以前所未有的速度調動資本的潛力。該基金的成功不僅顯示了市場對人工智慧驅動專案的興趣，也預示著未來自主代理可以成為資本配置的主要決策者。

Through platforms like Virtuals Protocol, which hosts an “AI agent launchpad,” AI agents can now be deployed to manage assets, grow communities, and even foster engagement through mechanisms like buyback-and-burn.

透過託管「人工智慧代理啟動板」的 Virtuals Protocol 等平台，現在可以部署人工智慧代理來管理資產、發展社區，甚至透過回購和銷毀等機制促進參與。

Yet, as novel as ai16z’s AI-managed approach may

然而，儘管 ai16z 的人工智慧管理方法可能很新穎