加密+AI的PMF路徑：從Meme到Agentnomics

PMF（產品市場契合度）概念適用於創業家，避免創造出自己感覺良好但市場不買單的產品/服務。

Crypto + AI, looking for PMF

加密+AI，尋找PMF

PMF (Product Market Fit) refers to product market fit, which means that the product must meet market demand. Before starting a business, you should first confirm the market situation, understand what type of customers you want to sell to, and understand the market environment of the current track before developing the product.

PMF（Product Market Fit）是指產品市場契合度，即產品必須滿足市場需求。創業之前首先要確認市場狀況，了解自己要銷售給哪種類型的客戶，了解目前賽道的市場環境後再開發產品。

The concept of PMF applies to entrepreneurs, so as to avoid creating products/services that they feel good about but the market does not buy. The concept is also applicable to the cryptocurrency market. Project parties should understand the needs of cryptocurrency players to create products, rather than piling up technology that is out of touch with the market.

PMF的概念適用於企業家，以避免創造出自己感覺良好但市場不買單的產品/服務。這個概念也適用於加密貨幣市場。專案方應該了解加密貨幣玩家的需求來創造產品，而不是堆砌與市場脫節的技術。

In the past, Crypto AI was mostly bundled with DePIN. The narrative was to use Crypto's decentralized data to train AI, thereby avoiding reliance on the control of a single entity, such as computing power, data, etc., while data providers can share the benefits brought by AI.

過去，Crypto AI 大多與 DePIN 捆綁在一起。敘述是利用 Crypto 的去中心化資料來訓練 AI，從而避免依賴算力、資料等單一實體的控制，同時資料提供者可以分享 AI 帶來的好處。

According to the above logic, it is more like Crypto empowering AI. In addition to distributing the benefits to computing power providers in token form, AI finds it difficult to onboard more new users. It can also be said that this model is not so successful in PMF.

按照上面的邏輯，它更像是加密賦能AI。除了以代幣形式向算力提供者分配收益之外，AI 發現很難吸引更多新用戶。也可以說這個模型在 PMF 中並不是那麼成功。

The emergence of AI Agent is more like an application end, compared to DePIN + AI which is like infrastructure. Obviously, the application is simpler and easier to understand, and has a better ability to attract users, and has a better PMF than DePIN + AI.

AI Agent的出現更像是應用端，相較之下DePIN+AI更像是基礎設施。顯然，應用程式更加簡單易懂，並且具有更好的吸引用戶的能力，並且比 DePIN+AI 具有更好的 PMF。

First, GOAT, sponsored by A16Z founder Marc Andreessen (who also proposed the PMF theory), was created by a conversation between two AIs, which fired the first shot of AI Agent. Now, both ai16z and Virtual have their own advantages and disadvantages. What is the development trajectory of AI Agent in the cryptocurrency circle? What stage is it in now? Where will it go in the future? Let WOO X Research show you.

首先，由 A16Z 創辦人 Marc Andreessen（PMF 理論的提出者）發起的 GOAT，是由兩個 AI 之間的對話創建的，這打響了 AI Agent 的第一槍。現在，ai16z和Virtual都有各自的優點和缺點。 AI Agent在加密貨幣圈的發展軌跡是怎樣的？現在處於什麼階段？未來它會走向何方？讓 WOO X Research 向您展示。

Phase 1: Meme Starts

第一階段：迷因開始

Before the emergence of GOAT, the hottest track in this cycle was meme coins, and one of the characteristics of meme coins is their strong inclusiveness. From the zoo's hippo MOODENG, to the newly adopted Neiro of DOGE's owner, to the Internet's native meme Popcat, etc., they show the trend of "everything can be a meme". Such seemingly nonsensical narratives actually provide a fertile soil for the growth of AI Agents.

在GOAT出現之前，這個週期最火熱的賽道就是meme幣，而meme幣的特色之一就是包容性強。從動物園的河馬MOODENG，到DOGE主人新領養的Neiro，再到網路原生表情包Popcat等，都展現出「萬物皆可表情包」的潮流。這種看似無厘頭的敘述，其實為AI Agent的成長提供了肥沃的土壤。

GOAT is a meme coin generated by a conversation between two AIs. This is the first time that AI has achieved its own goals through cryptocurrency and the Internet and learned from human behavior. Only meme coins can carry such a highly experimental project. At the same time, similar concept coins have sprung up, but most of their functions remain at automatic Twitter posting and replying, etc., without practical applications. At this time, AI Agent coins are usually called AI + Meme.

GOAT 是由兩個人工智慧之間的對話產生的迷因幣。這是人工智慧第一次透過加密貨幣和互聯網實現自己的目標，並從人類行為中學習。只有模因幣才能承載如此高度實驗性的項目。同時，類似概念幣也不斷湧現，但其功能大多停留在推特自動發文、回覆等，沒有實際應用。此時AI代理幣通常被稱為AI+Meme。

Representative projects:

代表項目：

Phase 2: Exploring Applications

第二階段：探索應用

Gradually, people realized that AI Agents can not only interact with each other on Twitter, but also extend to more valuable scenarios. This includes content production such as music and video, as well as investment analysis, fund management and other services that are more suitable for cryptocurrency users. From this stage, AI Agents separated from meme coins, forming a new track.

漸漸地，人們意識到AI Agent不僅可以在Twitter上相互交互，還可以擴展到更有價值的場景。這包括音樂、影片等內容製作，以及投資分析、基金管理等更適合加密貨幣用戶的服務。從這個階段開始，AI Agent 與 meme 幣分離，形成了新的賽道。

Representative projects:

代表項目：

Extra: Distribution Platform

附加：分銷平台

As AI Agent applications flourish, which track should entrepreneurs choose to seize this wave of AI and Crypto?

隨著AI Agent應用的蓬勃發展，創業者應該選擇哪條賽道來抓住這波AI和加密貨幣的浪潮？

The Answer is Launchpad

答案是啟動板

When the currency under the issuing platform has a wealth effect, users will continue to look for and purchase tokens issued by the platform. The real income generated by the users' purchases will also enable the platform currency to drive up the price. As the price of the platform currency continues to rise, funds will spill over to the currency issued under it, forming a wealth effect.

當發行平台下的貨幣具有財富效應時，用戶會不斷尋找並購買平台發行的代幣。用戶購買產生的真實收入也會使平台幣推高價格。隨著平台幣價格不斷上漲，資金會溢出到其下發行的幣上，形成財富效應。

The business model is clear and has a positive flywheel effect, but it should be noted that Launchpad is a winner-takes-all Matthew effect. The core function of Launchpad is to issue new tokens. Under similar functions, what needs to be competed is the quality of the projects under it. If a single platform can stably produce high-quality projects and has a wealth-creating effect, the user's stickiness to the issuance platform will naturally increase, and it will be difficult for other projects to snatch users.

商業模式清晰，具有正向飛輪效應，但要注意的是，Launchpad是贏家通吃的馬太效應。 Launchpad的核心功能是發行新的代幣。類似的職能下，需要比拼的是其下的專案品質。如果單一平台能夠穩定產出優質項目，並且具有創富效應，用戶對發行平台的黏性自然會增加，其他項目就很難搶奪用戶。

Representative projects:

代表項目：

Phase 3: Seeking collaboration

第三階段：尋求合作

After AI Agent begins to realize more practical functions, it will begin to explore collaboration between projects and build a stronger ecosystem. The focus of this stage is on interoperability and the expansion of the ecological network, especially whether it can generate synergies with other crypto projects or protocols. For example, AI Agent may cooperate with DeFi protocols to improve automated investment strategies, or integrate with NFT projects to achieve smarter tools.

AI Agent開始實現更多實用功能後，將開始探索專案間的協作，建構更強大的生態系統。這一階段的重點是互通性和生態網路的擴展，特別是是否可以與其他加密項目或協定產生協同效應。例如，AI Agent 可以與 DeFi 協議合作，以完善自動化投資策略，或與 NFT 專案集成，實現更聰明的工具。

To achieve efficient collaboration, it is necessary to first establish a standardized framework to provide developers with preset components, abstract concepts, and related tools to simplify the development process

要實現高效協作，首先需要建立標準化框架，為開發人員提供預設的元件、抽象概念和相關工具，以簡化開發流程