Eliza Labs, which developed ai16z, has published a white paper outlining its vision for a Web3-based artificial intelligence agent, the Web3 AI Project said on January 14.
The 20-page document details Eliza, ai16z’s AI agent toolkit that aims to serve as “the ideal agent framework for seamlessly integrating Web3 applications with AI agent functionality.”
Released in 2024, Eliza is designed to support AI agents that can “read and write blockchain data, interact with smart contracts, and more,” according to the white paper.
Ultimately, Eliza Labs expects to see Web3-based AI agents capable of autonomously analyzing data and executing transactions.
“Individual investors desperately need systems to help them manage their portfolios and conduct intelligent operations and transactions,” the white paper states.
Open source AI agent operating systems like Eliza seek to “democratize access to advanced AI capabilities, significantly lowering the barrier to entry for the general public.”
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The Rise of Agent AI
Industry executives expect AI agents to transform Web3 with cryptocurrency trading as an early use case in 2025.
Agentic AI, machines that autonomously pursue complex goals, is already reshaping the digital economy, building Web3 applications, launching tokens, and interacting independently of humans.
By 2025, “AI agents are expected to take on an increasingly important role in the decentralized community,” JD Seraphine, CEO of Web3 AI developer Raiinmaker, told Cointelegraph.
As of December, Web3 hosted approximately 10,000 AI agents and generated millions of dollars weekly through on-chain activity, according to a report by VanEck. More than 1 million AI agents are expected to populate blockchain networks by the end of 2025.
AI token craze
According to CoinGecko, the market capitalization of tokens related to AI agents in 2024 has grown to over $10 billion, mainly in the fourth quarter.
AI16Z, the native token of the ai16z project, performed particularly well. According to CoinGecko, AI16Z has bootstrapped its market capitalization to around $1.4 billion since its launch in October.
Ai16z describes itself on its website as “the first investment DAO (decentralized autonomous organization) driven by AI agents.”
According to the Elizaverse Observatory, a community-run dashboard, the Eliza operating system supports more than a dozen Web3 AI agents.
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