人工智能管理的风险投资基金 ai16z 重新构想自动化时代的投资

人工智能代理正在迅速成为加密货币领域的一股新生力量，改变交易者、社区和项目与市场互动的方式。

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.

人工智能（AI）代理正在迅速成为加密货币领域的强大力量，改变交易者、社区和项目与市场互动的方式。根据币安最近的一份报告，人工智能代理正在超越简单的自动化，在数字资产世界中创建自主决策实体的新范例。

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.

这种转变超越了传统的交易机器人，Terminal of Truths 等人工智能代理的成功故事、模因币 $GOAT 和 Centience ($CENTS) 的爆炸性增长以及现在人工智能驱动的 VC – ai16z 都凸显了这种转变。

A New Kind of On-Chain Autonomy

一种新型的链上自治

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.

从本质上讲，人工智能代理不仅仅是具有更高级代码的机器人。传统机器人遵循一组预定义的规则，适应性极低，而人工智能代理则以目标导向的自主性和多步骤决策来运作。这使他们能够动态评估条件，做出细致入微的选择，并跨链上和链下平台参与经济和社会互动。这种灵活性使得人工智能代理特别适合加密货币，由于其固有的波动性和分散性，加密货币领域需要敏捷性和快速决策。

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) 为例，它是一个杰出的人工智能代理，以创建自己的在线社区和推出 $GOAT memecoin 而闻名。最初是人工智能驱动的实验，后来演变成一种类似邪教的数字经济，使 ToT 成为第一个人工智能代理百万富翁。 ToT 的崛起凸显了人工智能代理不仅能够执行交易，而且能够影响情绪和创造运动，从而突破了社区与数字资产互动的界限。

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.

该领域更具开创性的实验之一是新推出的人工智能管理风险投资基金ai16z，其风格被称为人工智能版的安德森·霍洛维茨(Andreessen Horowitz)。 ai16z 在 Daos.fun 上推出，这是一个最初为人类主导的对冲基金设计的平台，它正在通过雇用“Marc AIndreesen”（AI Marc）来重新定义风险投资，这是一位接受过 Marc Andreessen 等技术领导者和加密影响者著作培训的人工智能代理例如@DegenSpartan。 AI Marc 利用这一庞大的见解库综合其策略和决策来做出投资选择。 AI Marc 还在 Discord 上与代币持有者进行互动，社区成员可以在其中提出想法并根据其推荐的成功获得信任分。

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 的目标是复制并最终超越标志性风险投资公司 Andreessen Horowitz (a16z)，将尖端人工智能、memecoin 文化和 DAO 治理融合到一场革命性的金融实验中。自推出以来的三周内，该基金的市值已超过 2.5 亿美元。

Venture Capital DAO Managed by AI

由 AI 管理的风险投资 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.

该项目的核心目标是通过将人工智能处理海量数据集的能力与众包决策框架相结合，实现风险投资的民主化。

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的结构既创新又简单。它从为期一周的筹款期开始，在此期间，参与者向集合基金贡献 SOL (Solana)，以换取 DAO 代币。这种公平的启动流程确保每个人都为其代币支付相同的价格。如果筹款成功，资金将被部署到基于 Solana 的协议上的投资，同时 DAO 代币将在虚拟自动做市商 (AMM) 上上线。

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 的亮点在于 AMM 定价模型，该模型具有无限的代币上行潜力，同时确保下行保护。即使在经济低迷时期，持有者也可以以不低于融资初始市值的价格出售代币。当基金到期时，利润将分配回代币持有者，如果市值条件有利，他们可以销毁代币以赎回基金资产或在 AMM 上进行交易。

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.

与静态机器人不同，AI Marc 依靠与声誉相关的聊天来评估 DAO 成员的输入。提供成功建议的贡献者在影响机器人决策方面会获得更高的权重，而不太准确的建议则被取消优先级。这种众包方法平衡了算法决策的效率与“人群的智慧”，创造了去中心化的精英管理体制。

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.

该机器人的决策是透明的且由社区驱动，利用类似于 Numerai 声誉模型的信任机制。随着时间的推移，随着机器人积累资产管理规模并执行有利可图的交易，它的功能就像人类基金经理一样，只是速度更快、可扩展性更强，并且不受情绪偏见的影响。

Challenges and Prospects

挑战与前景

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 专注于模因币并迅速崛起，体现了人工智能管理基金以前所未有的速度调动资本的潜力。该基金的成功不仅表明了市场对人工智能驱动项目的兴趣，还预示着未来自主代理可以成为资本配置的主要决策者。

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.

通过托管“人工智能代理启动板”的 Virtuals Protocol 等平台，现在可以部署人工智能代理来管理资产、发展社区，甚至通过回购和销毁等机制促进参与。

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

然而，尽管 ai16z 的人工智能管理方法可能很新颖