what is the most sober high-signal piece of writing about AI agents in the context of crypto

CTO @ OpenSea. Fmr. Co-Founder of Dharma Labs. 

Opinions my own

I’ll offer a short one.

There are protocols worth hundreds of millions which did nothing more than deploy an ollama wrapper. A 10-15 minute job for any dev.

Memecoins at least have communities that are aware that there is no intrinsic or utility value to their tokens. People buying up these massively inflated AI plays aren’t aware of the type of worthless bag they’re getting caught holding.

Conversely, there are teams that work slower but build actual value - however, in crypto, narrative favours vaporware with a green chart. The good projects aren’t moving.

We are making the same sobering mistakes that we have every cycle when there’s a popular tech narrative. We’re rewarding the grifters and ignoring the builders.