The crypto market has experienced repeated pullbacks, with liquidity becoming increasingly scarce. Recently, new AI agent projects that have successfully launched have reached a maximum market cap (MC) of around $10 million. This is in stark contrast to 3 to 4 months ago, when AI agent projects that achieved product-market fit (PMF) could reach market caps of over $100 million, especially those positioning themselves as "agent + framework/launch platform tokens." For example, $AVA, as a 3D agent, also derived value from its audio-visual layer through its launch platform and supported projects.

The old model involved launching an agent project to showcase its functionality, attract developers, and require them to hold/burn/use their own tokens to gain access to the framework. However, this model had significant issues. The crypto Twitter sphere placed an excessive premium on framework tokens, which were largely undifferentiated. In most cases, these "framework agents" lacked real products, relying instead on Twitter hype to drive token price increases.

The old model has been mercilessly phased out by the market. If you are launching an AI agent project today, here is what you should consider:

1. Core Product (Actual Business)
   Your core product should solve real problems and not just be a conversational agent. You need to build a product that truly adds value to users. For example, develop a predictive model that increases betting odds, an optimization model for crypto asset trading, or an AI agent research search engine that aggregates insights from top-tier information sources like Cookie, Kaito, Nansen, Messari, Aixbt, CoinGecko (CG), Dexscreener, and Bubblemaps. Before launching a token, ensure that your core product has real market demand and that users are willing to pay for it.

2. Token (Coordination Tool)
   We have shifted from the "VC token" model to the "fair launch" model, which emphasizes high liquidity and low fully diluted valuation (FDV) tokens. However, fair launches are not truly fair, as every token issuance strategy has its pros and cons. If you launch an agent project's token with high liquidity and low FDV, you won't be able to raise funds from VCs and angel investors (due to the low valuation). However, you can use the token as a marketing tool to boost project attention.

3. Agent (Supplementary Product)
   Agents should be supplementary to the core product, not the core product itself. Agents can enhance the core product by changing the user funnel, for example, by showcasing the product on Twitter through text or video, or using the agent as an AI assistant.

To build a sustainable project, treat an agent project as a startup. Don't just focus on attracting attention from the crypto Twitter sphere or raising funds from VCs and angel investors. Instead, build a product with lasting value, not just for the next 6 months, but for the next 6 years.

The crypto market has experienced repeated pullbacks, with liquidity becoming increasingly scarce. Recently, new AI agent projects that have successfully launched have reached a maximum market cap (MC) of around $10 million. This is in stark contrast to 3 to 4 months ago, when AI agent projects that achieved product-market fit (PMF) could reach market caps of over $100 million, especially those positioning themselves as "agent + framework/launch platform tokens." For example, $AVA, as a 3D agent, also derived value from its audio-visual layer through its launch platform and supported projects.

The old model involved launching an agent project to showcase its functionality, attract developers, and require them to hold/burn/use their own tokens to gain access to the framework. However, this model had significant issues. The crypto Twitter sphere placed an excessive premium on framework tokens, which were largely undifferentiated. In most cases, these "framework agents" lacked real products, relying instead on Twitter hype to drive token price increases.

The old model has been mercilessly phased out by the market. If you are launching an AI agent project today, here is what you should consider:

1. Core Product (Actual Business)
   Your core product should solve real problems and not just be a conversational agent. You need to build a product that truly adds value to users. For example, develop a predictive model that increases betting odds, an optimization model for crypto asset trading, or an AI agent research search engine that aggregates insights from top-tier information sources like Cookie, Kaito, Nansen, Messari, Aixbt, CoinGecko (CG), Dexscreener, and Bubblemaps. Before launching a token, ensure that your core product has real market demand and that users are willing to pay for it.

2. Token (Coordination Tool)
   We have shifted from the "VC token" model to the "fair launch" model, which emphasizes high liquidity and low fully diluted valuation (FDV) tokens. However, fair launches are not truly fair, as every token issuance strategy has its pros and cons. If you launch an agent project's token with high liquidity and low FDV, you won't be able to raise funds from VCs and angel investors (due to the low valuation). However, you can use the token as a marketing tool to boost project attention.

3. Agent (Supplementary Product)
   Agents should be supplementary to the core product, not the core product itself. Agents can enhance the core product by changing the user funnel, for example, by showcasing the product on Twitter through text or video, or using the agent as an AI assistant.

To build a sustainable project, treat an agent project as a startup. Don't just focus on attracting attention from the crypto Twitter sphere or raising funds from VCs and angel investors. Instead, build a product with lasting value, not just for the next 6 months, but for the next 6 years.