加密+AI的PMF路径：从Meme到Agentnomics

PMF（产品市场契合度）概念适用于企业家，避免创造出自己感觉良好但市场不买账的产品/服务。

Crypto + AI, looking for PMF

加密+AI，寻找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）是指产品市场契合，即产品必须满足市场需求。创业之前首先要确认市场情况，了解自己要销售给什么类型的客户，了解当前赛道的市场环境后再开发产品。

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的概念适用于企业家，以避免创造出自己感觉良好但市场不买账的产品/服务。这个概念也适用于加密货币市场。项目方应该了解加密货币玩家的需求来创造产品，而不是堆砌与市场脱节的技术。

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.

过去，Crypto AI 大多与 DePIN 捆绑在一起。叙述是利用 Crypto 的去中心化数据来训练 AI，从而避免依赖算力、数据等单一实体的控制，同时数据提供者可以分享 AI 带来的好处。

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.

按照上面的逻辑，它更像是加密赋能AI。除了以代币形式向算力提供商分配收益之外，AI 发现很难吸引更多新用户。也可以说这个模型在 PMF 中并不是那么成功。

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的出现更像是一个应用端，相比之下DePIN+AI更像是基础设施。显然，应用程序更加简单易懂，并且具有更好的吸引用户的能力，并且比 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 创始人 Marc Andreessen（PMF 理论的提出者）发起的 GOAT，是由两个 AI 之间的对话创建的，这打响了 AI Agent 的第一枪。现在，ai16z和Virtual都有各自的优点和缺点。 AI Agent在加密货币圈的发展轨迹是怎样的？现在处于什么阶段？未来它会走向何方？让 WOO X Research 向您展示。

Phase 1: Meme Starts

第一阶段：模因开始

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出现之前，这个周期最火的赛道就是meme币，而meme币的特点之一就是包容性强。从动物园的河马MOODENG，到DOGE主人新领养的Neiro，再到互联网原生表情包Popcat等，都展现出“万物皆可表情包”的潮流。这种看似无厘头的叙述，实际上为AI Agent的成长提供了肥沃的土壤。

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 是由两个人工智能之间的对话生成的模因币。这是人工智能第一次通过加密货币和互联网实现自己的目标，并从人类行为中学习。只有模因币才能承载如此高度实验性的项目。与此同时，类似概念币也不断涌现，但其功能大多停留在推特自动发帖、回复等，没有实际应用。此时AI代理币通常被称为AI+Meme。

Representative projects:

代表项目：

Phase 2: Exploring Applications

第二阶段：探索应用

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.

渐渐地，人们意识到AI Agent不仅可以在Twitter上相互交互，还可以扩展到更有价值的场景。这包括音乐、视频等内容制作，以及投资分析、基金管理等更适合加密货币用户的服务。从这个阶段开始，AI Agent 与 meme 币分离，形成了新的赛道。

Representative projects:

代表项目：

Extra: Distribution Platform

附加：分销平台

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

随着AI Agent应用的蓬勃发展，创业者应该选择哪条赛道来抓住这波AI和加密货币的浪潮？

The Answer is Launchpad

答案是启动板

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.

当发行平台下的货币具有财富效应时，用户会不断寻找并购买平台发行的代币。用户购买产生的真实收入也会使平台币推高价格。随着平台币价格不断上涨，资金会溢出到其下发行的币上，形成财富效应。

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.

商业模式清晰，具有正向飞轮效应，但需要注意的是，Launchpad是赢家通吃的马太效应。 Launchpad的核心功能是发行新的代币。类似的职能下，需要比拼的是其下的项目质量。如果单一平台能够稳定产出优质项目，并具有创富效应，用户对发行平台的粘性自然会增加，其他项目就很难抢夺用户。

Representative projects:

代表项目：

Phase 3: Seeking collaboration

第三阶段：寻求合作

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开始实现更多实用功能后，将开始探索项目间的协作，构建更强大的生态系统。这一阶段的重点是互操作性和生态网络的扩展，特别是是否可以与其他加密项目或协议产生协同效应。例如，AI Agent 可以与 DeFi 协议合作，完善自动化投资策略，或者与 NFT 项目集成，实现更智能的工具。

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

要实现高效协作，首先需要建立标准化框架，为开发人员提供预设的组件、抽象概念以及相关工具，以简化开发流程