Are 8 Major Projects Betting Big on MCP? Is the AI Agent Sector Primed for a Second Wave of Hype?
Multiple projects are rolling out MCP protocols, gaining significant traction as the missing link to connect AI agents with the real world—and with each other. What is MCP? Still confused about MCP? Let’s break it down. MCP (Multi-Agent Communication Protocol) is a standard introduced by Anthropic and now widely adopted by AI giants like OpenAI, Google, Cursor, and WindSurf. Think of it as a universal language for AI agents to communicate and collaborate.1. DeMCP Launched on April 25, DeMCP s...
Recent Data Analysis of Virtuals Genesis: Average New Issue Profit of 32 Times, Strong Correlation w…
It's still uncertain how long this craze will last, but @virtuals_io's Genesis project is undoubtedly one of the most profitable choices at the moment. They seem to have cracked the code to wealth, bringing in astonishing returns (x100, x60, etc.) and surprisingly stable ones. Here is a detailed analysis of the gameplay:Virtuals Genesis Recent Data Analysis: Average New Issue Profit of 32 Times, Strong Correlation with Oversubscription A month ago, Virtuals launched "Genesis Launches," which ...
$500 Million Funding Sold Out in an Instant: How Plasma, Backed by Tether, Aims to Build a Bitcoin F…
Plasma, a financial layer built on Bitcoin and backed by Tether, has launched with native privacy features that enable it to achieve goals that are difficult for other cryptocurrency projects to reach. With Circle's successful IPO and its impressive market performance, the focus on stablecoins has gradually increased. Plasma, a stablecoin chain supported by Tether, completed its ICO last night, with the $500 million quota being "snapped up" within minutes. While Plasma is primarily labeled as...
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Sapien: The AI Data Darling That Could Put Base on the Enterprise Map
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Support Exploring the public blockchain
Sapien: The AI Data Darling That Could Put Base on the Enterprise Map
Are 8 Major Projects Betting Big on MCP? Is the AI Agent Sector Primed for a Second Wave of Hype?
Multiple projects are rolling out MCP protocols, gaining significant traction as the missing link to connect AI agents with the real world—and with each other. What is MCP? Still confused about MCP? Let’s break it down. MCP (Multi-Agent Communication Protocol) is a standard introduced by Anthropic and now widely adopted by AI giants like OpenAI, Google, Cursor, and WindSurf. Think of it as a universal language for AI agents to communicate and collaborate.1. DeMCP Launched on April 25, DeMCP s...
Recent Data Analysis of Virtuals Genesis: Average New Issue Profit of 32 Times, Strong Correlation w…
It's still uncertain how long this craze will last, but @virtuals_io's Genesis project is undoubtedly one of the most profitable choices at the moment. They seem to have cracked the code to wealth, bringing in astonishing returns (x100, x60, etc.) and surprisingly stable ones. Here is a detailed analysis of the gameplay:Virtuals Genesis Recent Data Analysis: Average New Issue Profit of 32 Times, Strong Correlation with Oversubscription A month ago, Virtuals launched "Genesis Launches," which ...
$500 Million Funding Sold Out in an Instant: How Plasma, Backed by Tether, Aims to Build a Bitcoin F…
Plasma, a financial layer built on Bitcoin and backed by Tether, has launched with native privacy features that enable it to achieve goals that are difficult for other cryptocurrency projects to reach. With Circle's successful IPO and its impressive market performance, the focus on stablecoins has gradually increased. Plasma, a stablecoin chain supported by Tether, completed its ICO last night, with the $500 million quota being "snapped up" within minutes. While Plasma is primarily labeled as...
1. 48-Hour Snapshot – Price ≠ Hype Anymore
8/20 list on Binance Alpha → instant dump, -45 % first week.
9/1 low → 9/10 high: +110 %; 24 h volume $20 m → $200 m.
Options flow: Sept-30 $0.20 calls 25 % OI, skew flipped from puts—retail FOMO back.
2. Team Pedigree – Base Royalty + Tokenisation OG
CEO Rowan Stone – ex-co-founder of Base (yes, the Base).
CSO Trevor Koverko – founder Polymath, co-author ERC-1400 RWA standard.
Seed raise: $15.5 m (Apr + Oct 2024) led by Primitive, Animoca, YGG.
Signal: Coinbase alumni + RWA lawyer = compliance-first design—exactly what Fortune-500 buyers want.
3. Product – Proof-of-Quality (PoQ) in One Graphic
User journey:
Stake SPEN → Submit label → Peer review (≥3) → Consensus > 80 % → Earn stablecoin + SPEN bonus
Slashing: 25-100 % of stake for spam; reputation on-chain → future earning multiplier.
TAM: high-precision verticals—oncology imaging, LiDAR segmentation, retail SKU tagging.
Live case: radiologist in Turkey $400/h labeling tumour scans; cost 30 % below AWS SageMaker Ground-Truth.
4. Traction – Web2 Giants Already Paying
Client | Use-case | Data points | $ value (disclosed) |
|---|---|---|---|
Toyota | autonomous corner-case video | 12 M frames | $1.8 m |
Alibaba | e-commerce fine-grain taxonomy | 47 M labels | $2.4 m |
Midjourney | style-ranking pairs | 5 M pairs | $0.9 m |
UN HCR | refugee camp satellite IDs | 1.1 M tags | grant $0.6 m |
29 customers, 1.87 B tasks completed, 1.8 M registered contributors, 50 % MoM user growth.
Revenue run-rate Q3-25: $18 m ARR (token + cash) → >100 % YoY.
5. Base-Ecosystem Fit – AI Lego Block
Base TVL $68 b (#5 L2); AI sub-sector $20 b TVL—Sapien is #1 data layer.
Venice DIEM (tokenised GPU) + Sapien (verifiable human data) = end-to-end AI pipe on Base.
Coinbase internal 40 % code AI-generated (Armstrong tweet) → enterprise PoC sandbox for Sapien.
6. Tokenomics – Utility, Not Meme
Ticker: SPEN (ERC-20 on Base)
Triple sink: stake-to-label, customer payment rail, governance (parameter/fee votes).
Float: 18 % circulating; 65 % ecosystem/lock (4 yr cliff + 24 mo linear).
Burn: 20 % of cash revenue used to market-buy & burn quarterly—first burn Sept-30 (est. $1 m).
7. Risks – Scale, Law, Model-Obsolescence
Quality decay: marginal reviewer cost ↑ with scale; reputation grinding can turn into Sybil treadmill.
Cross-border data: medical & geo-imagery ITAR/EAR controlled—US Treasury fine >$10 m if breached.
AI-model shift: self-supervised & synthetic data could erase 30-50 % demand by 2027.
Token concentration: top 9 wallets hold 42 % SPEN; VC unlock #1 in Apr-26.
8. Valuation Quick-Sketch
Trad-comps: Scale AI (last $13 b), Snorkel ($1 b) → 12-18× ARR.
Crypto premium: network ownership + burn → 25× ARR not insane.
$18 m ARR × 25 = $450 m FDV → current $390 m FDV = fair-value band; upside if ARR doubles in 6 mo (historical 50 % MoM implies >2×).
9. How to Play It
Bulls
Accumulate spot ahead of 30 Sep burn; theta-neutral via selling Dec-25 $0.30 calls (30 % IV) to fund downside protection.
Bears
Apr-26 VC unlock = 12 % supply; short via calendar put-spread (buy Apr-26 $0.15, sell Jan-26 $0.10).
Enterprise watch-list
If Amazon AWS or Google Cloud white-label PoQ → $1 b FDV becomes floor.
10. One-Sentence Summary
Sapien turned human data-labeling into a stake-for-truth economy, landed Fortune-500 cash-flow before most crypto projects have a working app, and is one regulatory green-light away from becoming the Chainlink of AI datasets—all while trading at only a 1.2× revenue premium.
1. 48-Hour Snapshot – Price ≠ Hype Anymore
8/20 list on Binance Alpha → instant dump, -45 % first week.
9/1 low → 9/10 high: +110 %; 24 h volume $20 m → $200 m.
Options flow: Sept-30 $0.20 calls 25 % OI, skew flipped from puts—retail FOMO back.
2. Team Pedigree – Base Royalty + Tokenisation OG
CEO Rowan Stone – ex-co-founder of Base (yes, the Base).
CSO Trevor Koverko – founder Polymath, co-author ERC-1400 RWA standard.
Seed raise: $15.5 m (Apr + Oct 2024) led by Primitive, Animoca, YGG.
Signal: Coinbase alumni + RWA lawyer = compliance-first design—exactly what Fortune-500 buyers want.
3. Product – Proof-of-Quality (PoQ) in One Graphic
User journey:
Stake SPEN → Submit label → Peer review (≥3) → Consensus > 80 % → Earn stablecoin + SPEN bonus
Slashing: 25-100 % of stake for spam; reputation on-chain → future earning multiplier.
TAM: high-precision verticals—oncology imaging, LiDAR segmentation, retail SKU tagging.
Live case: radiologist in Turkey $400/h labeling tumour scans; cost 30 % below AWS SageMaker Ground-Truth.
4. Traction – Web2 Giants Already Paying
Client | Use-case | Data points | $ value (disclosed) |
|---|---|---|---|
Toyota | autonomous corner-case video | 12 M frames | $1.8 m |
Alibaba | e-commerce fine-grain taxonomy | 47 M labels | $2.4 m |
Midjourney | style-ranking pairs | 5 M pairs | $0.9 m |
UN HCR | refugee camp satellite IDs | 1.1 M tags | grant $0.6 m |
29 customers, 1.87 B tasks completed, 1.8 M registered contributors, 50 % MoM user growth.
Revenue run-rate Q3-25: $18 m ARR (token + cash) → >100 % YoY.
5. Base-Ecosystem Fit – AI Lego Block
Base TVL $68 b (#5 L2); AI sub-sector $20 b TVL—Sapien is #1 data layer.
Venice DIEM (tokenised GPU) + Sapien (verifiable human data) = end-to-end AI pipe on Base.
Coinbase internal 40 % code AI-generated (Armstrong tweet) → enterprise PoC sandbox for Sapien.
6. Tokenomics – Utility, Not Meme
Ticker: SPEN (ERC-20 on Base)
Triple sink: stake-to-label, customer payment rail, governance (parameter/fee votes).
Float: 18 % circulating; 65 % ecosystem/lock (4 yr cliff + 24 mo linear).
Burn: 20 % of cash revenue used to market-buy & burn quarterly—first burn Sept-30 (est. $1 m).
7. Risks – Scale, Law, Model-Obsolescence
Quality decay: marginal reviewer cost ↑ with scale; reputation grinding can turn into Sybil treadmill.
Cross-border data: medical & geo-imagery ITAR/EAR controlled—US Treasury fine >$10 m if breached.
AI-model shift: self-supervised & synthetic data could erase 30-50 % demand by 2027.
Token concentration: top 9 wallets hold 42 % SPEN; VC unlock #1 in Apr-26.
8. Valuation Quick-Sketch
Trad-comps: Scale AI (last $13 b), Snorkel ($1 b) → 12-18× ARR.
Crypto premium: network ownership + burn → 25× ARR not insane.
$18 m ARR × 25 = $450 m FDV → current $390 m FDV = fair-value band; upside if ARR doubles in 6 mo (historical 50 % MoM implies >2×).
9. How to Play It
Bulls
Accumulate spot ahead of 30 Sep burn; theta-neutral via selling Dec-25 $0.30 calls (30 % IV) to fund downside protection.
Bears
Apr-26 VC unlock = 12 % supply; short via calendar put-spread (buy Apr-26 $0.15, sell Jan-26 $0.10).
Enterprise watch-list
If Amazon AWS or Google Cloud white-label PoQ → $1 b FDV becomes floor.
10. One-Sentence Summary
Sapien turned human data-labeling into a stake-for-truth economy, landed Fortune-500 cash-flow before most crypto projects have a working app, and is one regulatory green-light away from becoming the Chainlink of AI datasets—all while trading at only a 1.2× revenue premium.
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