How did AI16z, the leader of AI Agent tokens in the past, come to an end?
Author: David, Shenchao TechFlow Original title: Drowning Tide, the End of “Cryptographic XAI” pioneer ai16z, ai16z, do you remember the name? If you remember, it means you experienced the AI coin boom in the cryptocurrency industry at the end of 2024. If you don't remember, it's normal. The AI Agent token category has been quiet for a long time. Cryptography x AI seems too much like a fake concept and an old-fashioned toy in the current version of AI tools that are gradually being implemented and rapidly progressing. Today, Shaw Walters, the founder of the Eliza OS project, wrote a long, long article to the effect that the ai16z token is completely dead, the foundation is closed, there will be no repurchases, and the holders will handle it themselves. He suggests you either sell it or “get a bunch of people to fry it up,” but don't expect him to do anything more. The tone of this letter isn't like a founder politely announcing the termination of the project, but more like a person falling down the door in disappointment after scolding everyone. He called the crypto community “a bunch of used to crying bags,” saying that a law firm sued him from the standpoint of the token holder. However, the Eliza OS Foundation had no money to file a lawsuit and lost all the rest of the money. Shaw also said that he used to have 25 million dollars of AI16z tokens in his wallet, but not a single one was sold and went all the way back to zero; now he lives on his savings, lives in a small, dilapidated bedroom in San Francisco, and writes code every day. From his point of view, he probably thought he was standing in a smoky market and using idealistic colors to develop, ultimately leaving behind a heart full of ruin, disappointment, and anger. I have no intention of judging these personal feelings. However, standing at the crossroads of changing hot spots, shifting industry focus, and the rise of AI, the shutdown of Eliza OS inevitably made people feel emotional about encryption X AI. It really started early in the morning and caught up in the evening episode. One step ahead. In October 2024, ai16z launched crowdfunding on DAOS.fun. The goal is to raise 420.69 SOL, equivalent to about 75,000 US dollars, to become an investment fund managed independently by AI. 420.69. Anyone familiar with crypto culture knows this is a rough number. Starting with the selection of the amount of capital raised, the undertones of this matter have already been decided. But it actually flew. In less than three months, ai16z's market capitalization reached $2.6 billion. It also brought in an entire category. Before GOAT, after VIRTUAL, various Agent concept coins were constantly emerging, and the entire AI Agent circuit grew from zero to close to 10 billion US dollars. Cryptography is conceptually one step ahead of others. What will the AI market look like at the end of 2024? ChatGPT has just turned two, and is often criticized for answering various illusions; Claude doesn't have the tools to directly operate a computer, and most people's understanding of an “AI Agent” is still at the conceptual level. The crypto market has already set a price for this concept. But there is one detail that not many people cared about at the time. Less than a week after ai16z went live, some cryptographic media published reports questioning it, saying that the AI agent at the core of the ai16z project, the “Marc IndReessen,” which claims to be able to make independent investment decisions, is actually a person operating, not the real agent himself. This question later also occurred on AIIxBT, a well-known crypto market analysis agent. At the time, it was difficult for such questioning to cause any uproar and FUD. The market capitalization continues to rise, the community continues to shout, and new AI Agent tokens continue to be issued... Looking back, this is probably the most accurate microcosm of the entire cryptographic AI narrative. True or false, it doesn't matter. In an environment of excessive fluidity, a leading version of the narrative is enough to cause a wave of speculation. The concept is realistic, the direction is right, but the token exists before the product, and the price comes before the technology. This is the essence of cryptography being one step faster. The future has arrived, but Rain Girl won't help but in 2026, AI Agent will actually arrive. There are CodeX and Claude in the west, and Workbuddy in the east, which are more suitable for domestic physiques. Looking back at the white paper's narratives living in the hype boom of cryptographic AI, such as helping people automatically analyze market conditions, process workflows, monitor public opinion, etc., have actually completely become reality. This is probably one of the few real-world stories in the crypto industry other than stablecoins. But the people who redeemed them...
